WIRB-Copernicus Group (WCG) Acquires MedAvante and ProPhase
Names Dr. Jeffrey Litwin as the CEO of the Combined Company
PRINCETON, New Jersey, May 9, 2017 /PRNewswire/ -- WIRB-Copernicus Group® (WCG™), the world's leading provider of solutions that measurably improve the quality and efficiency of clinical research, announced today that it has acquired MedAvante and ProPhase, and has named Dr. Jeffrey Litwin as the CEO of the combined organization.
The acquisition of MedAvante and ProPhase positions WCG as the leader in the growing central nervous system (CNS) and behavioral health assessment markets through the delivery of clinical services and technology solutions that improve signal detection. With these two industry leaders added into the family of companies, WCG will provide clients a more comprehensive and integrated suite of study start-up solutions.
"We are pleased to welcome the dedicated, knowledgeable, and highly skilled teams of MedAvante and ProPhase and delighted to add Dr. Jeff Litwin as the CEO of this important addition to our organization," said Donald A. Deieso, PhD, chairman and chief executive officer of WCG. "To accelerate the development of life-saving therapies for the patients who need them is our priority. We seek partners who share our vision of increasing efficiencies in the clinical trial process through the intelligent application of innovation, clinical expertise, and technology." He added, "MedAvante and ProPhase have a proven track record and long-standing history in the CNS space-- pioneering ingenious solutions to some of pharma's most intractable problems with the best and most current thinking in this field."
"My co-founder, Amy Ellis, and I launched MedAvante to conceive and globalize innovations to improve the lives of patients," says Paul M Gilbert, co-founder & chief executive officer. "We're thrilled to become part of WCG, which has the resources and capabilities to help us achieve the next level of our vision."
"We are excited to be joining WCG and combining forces with another market leader to transform how novel treatments are brought to market and improve treatment options and outcomes for all stakeholders," said principals Sofija Jovic, PhD, MBA, chief executive officer and Mark Opler, PhD, MPH, chief scientific officer and founder at ProPhase.
"Combining the strengths of MedAvante and ProPhase with the expansive clinical research expertise and global reach of WCG will provide best-of-class expertise and services for those conducting clinical trials in the challenging fields of CNS and mental health," said Jeffrey Litwin, MD, CEO of MedAvante and ProPhase. "The collective tools and scientific expertise of both companies – bolstered by the formidable resources of WCG – will have a tremendous impact on the success of clinical trials, contributing to improving the lives of patients suffering from debilitating and life-threatening diseases."
Clients of both MedAvante and ProPhase can look forward to the same scientific excellence, technological advances, and dedication to quality customer service they have come to expect. WCG will provide corporate support to these two organizations as they continue to expand, with access to capital, and complementary clinical and regulatory expertise.
Financial details about the transaction were not disclosed.
About WIRB-Copernicus Group
WIRB-Copernicus Group (WCG) is the world's leading providers of solutions that measurably improve the quality and efficiency of clinical research. The industry's first clinical services organization (CSO), WCG enables biopharmaceutical companies, CROs and institutions to accelerate the delivery of new treatments and therapies to patients, while maintaining the highest standards of human subject protections. For more information, please visit www.wcgclinical.com or follow us on Twitter @WCGClinical.
About MedAvante
MedAvante is a clinical science-driven data services company dedicated to maximizing signal detection in global clinical trials. With Virgil™, its electronic clinical outcome assessment (eCOA) platform, clinical research sponsors are able to maximize outcome data quality and increase operational efficiency for clinical trials across multiple therapeutic areas. MedAvante built the first electronic source (eSource) data platform and has conducted more than 687,000 assessments of 56,000 clinical trial subjects across 233,000 study visits. MedAvante's eSource data has been accepted by both the Food and Drug Administration and the European Medicines Agency in successful regulatory submissions.
About ProPhase
ProPhase is a global provider of measurement-related specialty solutions in clinical trials. For over a decade, ProPhase has focused on applying innovation to optimize the selection, use, and analysis of behavioral endpoints to mitigate trial risk and maximize the likelihood of study success. ProPhase specializes in the development of new outcome measures, calibration of real world outcomes, placebo response mitigation, and prediction of treatment adherence. These approaches have led to successful trials in indications across the CNS spectrum, as well as multiple rare and orphan diseases.
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