OmniComm Systems, which owns early-phase clinical trial electronic data capture software TrialOne, announced that a major CRO has made a $11.7 million deal for its services.
The unnamed CRO will use the TrialOne system to “implement a number of automated clinical trial processes across multiple clinics, including the recruitment and screening of subject participants, study design and the collection, analysis and reporting of data,” said OmniComm in a release.
TrialOne is a browser-based, tablet-compatible data collection platform specifically designed for early-phase research sites. It can be integrated with several clinical devices to monitor participants’ data at bedside, allowing clinic staff to respond to safety incidents in real time.
While TrialOne focuses on phase 1 trials, the company’s EDC suite called TrialMaster supports all phases of clinical studies.
As of the end of last year, the company had about 120 customers, including biopharma big names Pfizer and Eli Lilly, CRO majors Covance, PPD and QuintilesIMS, as well as research institutes New York Medical Center and St. Jude Children’s Research Hospital, the company’s annual SEC filing shows (PDF). Its reported revenues for 2016 grew 22.7% to $25.42 million from $20.71 million in 2015.
The Fort Lauderdale, Florida-based company isn’t the only one excelling in the fast growing clinical trial EDC and data management market. Others include big names like Oracle and Medidata Solutions, as well as smaller ones like Medrio. Some CROs also have their own internal systems.
This new contract “comes after a period of significant investment within OmniComm in both product quality and highly skilled support resources,” said OmniComm’s CCO Kuno van der Post, in the release. “The timing could not have been better.”
The company also has offices in Somerset, New Jersey; Bonn, Germany; Southampton, the U.K.; and Leiden, the Netherlands. Besides those, OmniComm is also expanding its presence in emerging markets.
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In April, it signed two contracts to provide TrialOne to two major hospitals (as trial sites) in China, including Guangdong General Hospital, increasing the number of deals it holds in the country to five since its debut there last December. China’s FDA recently proposed several regulatory changes aiming at speeding up drug and clinical trial approvals, as well as lifting the administrative bottleneck on clinical trial sites to meet increasing drug development demand. That could mean a huge boost in demand for clinical trial management systems.
Those Chinese deals were also part of OmniComm’s growing businesses with academic and hospital-based research institutions. Contract value for that segment was already growing at a 45% compound annual growth rate over the past three years, the company reported in February.