Phase Forward acquires Green Mountain Logic

Nov. 5, 2007 - PRLog -- Phase Forward (Waltham, Massachusetts), which provides data management systems for clinical trials and drug safety, has acquired privately held Green Mountain Logic for $5.25 million in cash.  Founded in 1998, GML supplies process automation software for managing Phase I clinical trials.  It will continue to operate from its offices in Montpelier, Vermont, and its former president, John Rosenblum, will become a Phase Forward vice-president responsible for GML's products.

The acquisition is not expected to have a significant impact on Phase Forward’s revenues this year, but the company forecasts additional revenues of $1-2 million in fiscal 2008.  Phase Forward aims for GML to expand its deals in the CRO sector by benefiting from its own relationships with some 50 CROs.

GML's primary product is LabPas CT, which manages clinic workflow and information - from subject recruitment to data collection and sample management.  It helps to ensure data integrity by barcode scanning of subjects’ wristbands, treatments and laboratory samples.  The system includes features to facilitate real-time data capture of vital signs, adverse events, clinical test results and other clinical events.

GML also offers: LabPas EM, an environmental monitoring product designed to support precise reporting of subject sample storage conditions; and LabPas LIMS, a workflow module that automates sample processes for life science laboratories.  The LabPas products are based on a flexible software platform that Phase Forward aims to develop for use in other segments of the market.

Phase Forward plans to integrate GML’s technology with its eClinical Suite.  “LabPas CT brings important functionality to the Phase Forward product portfolio, enabling us to offer a broader and more extensive solution for Phase I clinical trials," said president and CEO Bob Weiler.  “Phase I trials represent an important growth area for our products.”

Indeed, Phase I trials represent one of the fastest-growing segments of the clinical research market.  US Phase I R&D spending was $5,200 million in 2005, rising to $5,800 million in 2006, and will reach $8,900 million by 2010, according to Goldman Sachs estimates quoted by Phase Forward.  Growth is expected to be particularly robust in the electronic data capture sector, with the US market estimated at $45 million in 2007 and forecast to reach $120 million by 2010 by market research firm Health Industry Insights. Article submitted by www.jobs4dd.com.

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