Clinical Ink, CentrosHealth Merge in Paperless Drug Trials Push
Winston-Salem, NC-based Clinical Ink disclosed no financial terms for either the merger or for the new investment, which was led by MPM Capital, the Boston-based venture capital firm that founded CentrosHealth. CentrosHealth is also based in Boston. F2 Ventures, FCA Ventures, and other existing investors joined MPM in the new financing.
Clinical Ink offers a clinical trials software product called SureSource that allows workers in those trials to enter data electronically into tablet computers. CentrosHealth offers mobile apps that engage patients who are participating in clinical trials and electronically reports patient outcomes to investigators. Clinical Ink also said that it has entered into a partnership with Novartis (NYSE: NVS), joining that company’s initiative to support fully electronic clinical trials.
“The pharmaceutical industry is at an inflection point in its embrace of mobile technologies,” Todd Foley, managing director of MPM capital, said in a prepared statement.
Clinical Ink was founded in 2007 by Tommy Littlejohn, a longtime clinical trials investigator, and Doug Pierce, who spent more than 20 years in medical forms publishing. The two aimed to develop tablet-based software that would emulate the look and feel of paper. Clinical Ink last raised money in 2013, when FCA Ventures led a $4.3 million Series B round. The company raised $2.7 million in a Series A round four years ago.