Contract research organization Clinipace Worldwide is bolstering its global reach through a strategic partnership with European CRO with Medfiles.
Morrisville-based Clinipace bills itself as a “digital CRO,” emphasizing its proprietary software for managing the data produced by clinical trials. Medfiles, headquartered in Finland, provides services to mostly small and medium-sized pharmaceutical and biotechnology companies in the Nordic and Baltic regions of Europe.
No financial terms of the partnership were disclosed. But in a statement, the companies said partnership opens both firms to new global opportunities. Medfiles gets access to Clinipace’s technology. Clinipace gets access to Medfiles’ knowledge, services and staff in the Nordic and Baltic regions.
“We are impressed with Medfiles’ track record of fruitful cooperation and tradition of long-term relationships and in-depth partnering with client,” Ran Frenkel, Clinipaces’ managing director, EMEA, said in a statement.“The company’s philosophy of building quality standards and procedures fits seamlessly with the way we conduct our business.”
Clinipace has been take several steps in recent years to grow; in addition to the organic growth of the business the company has also made acquisitions or entered partnerships with other CROs. In 2011, for example, Clinipace acquired Clinipace acquired PFC Pharma Focus, a CRO in Switzerland that also has offices in Germany, Israel and India. Last September, Clinipace acquired California CRO Paragon Biomedical. A month later, the company raised $9 million from its investors.
