Clinverse, a Durham-based firm focusing on development of software and services for electronic clinical trials in the drug industry, has been sold to a privately held Pennsylvania firm.
The deal was announced Tuesday.
Financial terms were not disclosed.
Clinverse, which has been based in the Triangle since 2010 after launching in Charlotte in 2008, will maintain an office in Durham. The firm expects its work force will grow under the ownership of Bioclinica, which is itself owned by two private equity companies.
Hatteras Venture Partners in Durham is an investor in venture-capital backed Clinverse.
“We are delighted to add Clinverse’s capabilities to Bioclinica’s portfolio of solutions,” said Dr. John Hubbard, Chief Executive Officer of Bioclinica, in a statement.
“The management of clinical investigator payments has been a significant challenge for our industry. For years, sponsors have manually tracked and paid clinical trial sites. Clinverse developed one of the first automated solutions to alleviate companies of this burden. The company is making a significant impact in reducing costly errors, improving satisfaction and increasing operational efficiencies to mitigate this major pain point in drug development.”
Jay Trepanier, CEO of Clinverse, will stay with the new owners.
“We are excited to join Bioclinica,” Trepanier said. “This partnership will accelerate our goal of becoming the best-in-class solution for financial services in the clinical trial industry. Our relationship will allow us to strengthen our operational capabilities out of the gates, while we continue to aggressively invest in enhancing our technology and services. Our customers will benefit from becoming part of an innovative leader in the industry that offers extensive resources and services. We also look forward to bringing our specialized expertise to Bioclinica’s clients.”
Clinverse becomes part of Bioclinica’s eHealth Solutions group.