Clinical trial health tech firm eResearchTechnology (ERT) is trying to round off a tough year with a new deal by merging with Bioclinica.
The deal, financials of which were not made public, will integrate Bioclinica's imaging focus with ERT's expertise in eCOA, cardiac safety, respiratory and wearables.
“Leveraging a unique footprint, the combined company will deliver data analytics, insights, business intelligence, virtual patient visits and hybrid technological solutions as a strategic partner to global pharmaceutical and biotechnology companies, delivering best-in-class clinical research tools, expertise and technologies to partners and patients alike across all therapeutic areas,” the pair said in a statement.
ERT has also been at work on pandemic drugs, but it's had a tough 2020. Back in the fall, The New York Times said its work on COVID-19 treatments had in fact been delayed due to a ransomware attack.
The company told the NYT it had been resolved quickly, though it did cause delays of a few weeks. Clinical trial patients were never at risk, but customers said the attack “forced trial researchers to track their patients with pen and paper,” which caused minor delays to some of its work with partners on COVID-19.
These include IQVIA, the CRO working on AstraZeneca’s COVID-19 vaccine trial, and Bristol Myers Squibb, which is working on a rapid test for the virus.
Strangely, the company did not send out its own release on what happened. Then, several days after the story broke in early October, ERT said then-CEO and President Jim Corrigan was stepping down, replaced immediately by Joe Eazor, most recently CEO of Conifer Health Solutions and previously leader of both Rackspace and Earthlink.
It’s not clear whether the two events are linked or whether Corrigan was sacrificed for the attack after news of it surfaced. He will, however, “continue to support the company during a transition period,” according to a statement.
Now, Eazor becomes the CEO of the newly merged company, with the management team made up of both ERT and Bioclinica execs. It is not clear what role Bioclinica’s chief Euan Menzies will have.
“As our customers continue to transform their R&D operations, we must continuously deliver a breadth of innovative technology and services. Our merger with Bioclinica will allow us to continue to reinvent end-point data collection by delivering higher-fidelity data and more integrated solutions to achieve our customers' goals for higher effectiveness, greater efficiency, safer trials, and more patient-centric virtual solutions," according to the release.
RELATED: Science 37 teams up with ERT to tap into high-quality data from virtual trials
ERT, did in the middle of a departing CEO, ransomware attacks and COVID-19 focus, also have time to pen a new deal with Science 37, the trendy virtual trial specialist. Under the pact, the pair will work together for ERT to grab the same high-quality data in a virtual model as it would in a traditional model.
“This merger will significantly enhance our commercial offerings and technology capabilities," added Menzies. "The combination will make us a more relevant partner to an even broader group of clients operating in today's complex and fast-moving clinical trials environment. We look forward to leveraging our new footprint together in the chapters ahead.”