DataLabs Expands Into eClinical Collaboration With Latest Acquisition
DataLabs, an innovative developer of Internet-based software applications for clinical development, today announced that it has acquired Broadpeak LLC, an eClinical Collaboration software company that provides applications to the biopharmaceutical and Contract Research Organizations (CRO) industries to improve the workflow and communication processes in managing clinical trials.
“The rapid adoption of EDC has created a Web-connected user base, which is now looking for better tools to manage and collaborate within this new electronic environment. Broadpeak’s software products address these new found needs and will quickly set the bar for the next generation of clinical trial management and collaboration solutions,” said Nick Richards, COO of DataLabs. “DataLabs’ commits more than 30 percent of its annual budget to research and development, more than any other vendor in the market. The addition of Broadpeak further demonstrates DataLabs’ commitment to provide the best software solutions in the clinical trials market.”
Broadpeak’s application suite is an eClinical Collaboration System that paves the way for the next generation in Clinical Trial Management Systems (CTMS). The Broadpeak solution facilitates all internal and external collaboration for study activities, from beginning to end. It accelerates the time for recruiting qualified investigators, initiating each site (including the collection and versioning of regulatory documents), communicating with investigative sites, and providing a central portal in which to manage the progress of each clinical trial.
“DataLabs is a leader in providing software for clinical development, and being part of DataLabs will allow us to accelerate the development and delivery of our vision of truly connected clinical trials,” said Zikria Syed, CEO of Broadpeak. “The fact that DataLabs and Broadpeak share the philosophy of delivering innovate software solutions based on open standards and technologies to accelerate and improve clinical trials, made this a perfect match.”
Recently DataLabs announced securing a credit facility with Comerica Bank, and indicated that part of the funding would be used to implement its acquisition strategy, of which Broadpeak is the first. DataLabs believes the Broadpeak solution will be additive to the sales of their flagship product, DataLabsXC(TM), and will be sold as part of a larger trial management solution, in addition to a stand alone solution. DataLabs management believes that the addition of Broadpeak will have a significant impact on sales for 2006. DataLabs was advised in their acquisition of Broadpeak by Crosstree Capital Partners ( www.CrosstreeCapital.com ).
About DataLabs
DataLabs is an innovative developer of Internet-based applications for clinical development that helps the biopharmaceutical industry accelerate clinical trials with proven software for study design, data capture and data management. Based on Microsoft platform technology, XML Web services and CDISC ODM standards, the DataLabsXC product suite adapts to established operating procedures and integrates easily with existing technology systems. As a result, DataLabsXC customers enjoy a low total cost of ownership and high return on investment. Major pharmaceutical companies, government entities, healthcare organizations and contract research organizations are currently realizing time and cost savings using DataLabsXC. DataLabs, a Microsoft Certified Partner, is based in Irvine, Calif. with East Coast offices in Pennsylvania. For more information, please visit www.datalabs.com .
