CRO Analytics Announces Series A Investments from BFTP and VC4BC
Investments will support the Pilot to Production program for company’s Clinical Trial Quality System, Performer™
New Hope, PA, December 15, 2014 –
CRO Analytics, the leading provider of validated clinical trial performance data, announced Series A investments from Ben Franklin Technology Partners (BFTP) of Southeastern Pennsylvania, and the newly established Venture Capital for Bucks County (VC4BC) fund. The investment will support the Pilot to Production program of the company’s Performer™ platform, the only validated Clinical Trial Quality System in the industry.
“We are very pleased to add two of the most noteworthy investment groups as business partners,” said Peter Malamis, CEO of CRO Analytics. “BFTP has an unparalleled history of supporting new businesses in our region, and we are honored to be among the first investments of the VC4BC initiative. Their confidence in CRO Analytics serves as both an endorsement of our team, and as motivation to keep working to improve the clinical research environment.”
CRO Analytics’ lead product, Performer, is a cloud-based software platform designed to improve clinical research by assessing clinical trial performance through online tools that measure the quality of more than 70 functional areas and professional skills involved in clinical trial delivery. The data is analyzed using a series of algorithms to deliver actionable insights. The Company launched Performer Version 1.0 earlier this year, accompanied by the initial version of its Trial Management and Oversight Module for Phase 2-4 clinical trials.
The recently launched Pilot to Production program provides a limited number of CROs and sponsors with the opportunity to work directly with CRO Analytics to develop a deeper understanding of how Performer is used, adds value, and can be improved prior to its full launch next year. Two companies have confirmed their participation in the program and CRO Analytics is looking to add four others.
“Clinical trial performance problems have a substantial impact on the health and well-being of patients in the US and around the world,” stated Malamis. “Performer is designed to properly assess trial performance, providing sponsors and CROs with the insight necessary to move trials forward, anticipate and address issues, and ultimately get new and improved treatments to market sooner.”
About CRO Analytics
CRO Analytics provides the only validated performance data collection system for clinical trials, providing straightforward access to reliable benchmarking, key performance drivers and predictive analytics in an intuitive format – making clinical research better, faster and less expensive. To learn more, please visit croanalytics.com.
About the Performer™ Pilot to Production Program
The Pilot to Production program provides a limited number of sponsors and CRO partners with the opportunity to work over a six-month period with CRO Analytics to develop a deeper understanding of how Performer is used, adds value, and can be improved prior to its full launch next year.
Those interested in participating in Pilot to Production are asked to contact CRO Analytics CEO, Peter Malamis at firstname.lastname@example.org.
About Ben Franklin Technology Partners of Southeastern Pennsylvania
Ben Franklin is the most active early stage capital provider for the region’s technology sectors. Ben Franklin combines best practices of venture capital with a public-spirited purpose: leading the region’s technology community to new heights, creating jobs and changing lives for the better. Ben Franklin is an initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority. www.sep.benfranklin.org
About Venture Capital for Bucks County
A partnership between the Bucks County Retirement Board and Ben Franklin Technology Partners of Southeastern PA, VC4BC is looking to invest $4 million in emerging advanced technology companies located in or willing to locate in Bucks County. All VC4BC investment opportunities in the IT, Life Sciences and Physical Sciences technology sectors are evaluated through Ben Franklin Technology Partners of Southeastern PA’s highly regarded technology sector-specific review process, which incorporates many of the region’s top technology experts and early stage investors. For additional information about the program, and how to apply, go to the BCIDA website at: http://buckscountyida.com/services.php#vc4bc
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