IT solutions provider Instem has agreed a deal to take over a US-based clinical trial technology business.
The Staffordshire company, which is a leading provider of IT solutions and services to the global life sciences market, is set to acquire d-Wise Technologies at the end of the month in a deal worth up to $31 million.
Instem’s latest acquisition will allow it to grow and develop new and existing software services and broaden its relationships with existing clients.
It comes just weeks after the company – which is based on Stone Business Park – acquired The Edge in £8.5m deal.
Phil Reason, CEO of Instem, said: “We are delighted to have completed this acquisition. Access to a broad array of data is key to aiding and speeding up drug research and development. We believe that the enlarged group is now even closer to becoming a one-stop-shop for life science companies looking for a long-term relationship as we assist them across the drug discovery and development landscape.
“We have known d-wise for nearly a decade and have been impressed with their growth, as well as the position they have developed as highly trusted thought leaders in clinical trial analysis and regulatory submission technology.
“This is an exciting addition to the group, significantly enhancing our scale and market reach. We very much look forward to building on this as part of our ongoing strategy.”
He added: “Our combined capabilities will help us meet the demand by our clients to create a more connected ecosystem across the life sciences in the global effort to bring life enhancing products to market faster.
“Behind all of the technology is a highly talented, experienced and motivated d-wise team that shares our mission and values. They are widely trusted industry thought leaders and practitioners, committed to delivering an exceptional client experience.
“d-wise is well known for its drive to transform the life sciences through open and flexible access to data. It acts as strategic advisor to many of Instem’s existing clients and is one of the leading IT solution engineering and integration partners in the market today.
“We are extremely excited about future opportunities to leverage wider areas of data and knowledge, backed by leading technologies and services, to maximise client value in ways we and the industry have only dreamed of in the past.”
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Founded in 2003, d-Wise is a well-respected clinical trail technology domain expert. It has had significant impact on the creation of operational and clinical data efficiencies that have accelerated clinical trial analysis and regulatory submissions for 19 of the top 20 global pharma companies.
It operates from its US headquarters, based in North Carolina, and an additional office in Manchester.
Approximately 70 of the d-wise staff are based in North America and 20 in the UK or mainland Europe and the board expects to broadly maintain this split following the acquisition. The d-wise team will join approximately 350 existing Instem staff.
John Leveille, CEO of d-wise, said: “Our mission has always been to help our clients navigate technology change in pursuit of human health and wellbeing. Today is a watershed moment in our journey as we take d-wise products and services to the next level and achieve even greater reach and impact.
“We are excited to be part of Instem, a growing global organisation of over 400 professionals with a shared purpose of helping our clients in their life changing missions.”