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PRINCETON, N.J., Sept. 24, 2014 /PRNewswire/ -- Crosstree Capital Partners (Crosstree) is pleased to announce WIRB-Copernicus Group (WCG), the world's largest provider of regulatory and ethical review services for clinical research, has made a strategic investment in ePharmaSolutions. Based near Philadelphia, PA, ePS is a leading provider of eClinical solutions and technology-enabled services that improve the conduct of clinical trials. Its proprietary solutions, including a cloud-based enterprise Clinical Trial Portal (CTP) and Electronic Trial Master File (eTMF), are used by 350,000 clinical research professionals in 130 countries who benefit from the improved coordination of study start up, site management, and regulatory document control.
“The transaction consummates the emergence of ePharmaSolutions as a leading contender in the emerging eClinical platform wars,” said Shane Senior, Managing Director of Crosstree Capital Partners, which represented ePharmaSolutions in the transaction. “The combination of WCG’s site and investigator network, and the workflow and integration technologies of ePharmaSolutions creates not just a cross-functional platform, but a collaborative ecosystem that spans sponsors, CROs, sites, investigators, patients and IRBs. This is a visionary combination and is arguably the biggest technological innovation in the industry since EDC.”
"We are delighted to welcome ePharmaSolutions into the WCG family of companies. WCG and ePharmaSolutions share a powerful vision of how to improve clinical research trials – a cornerstone in the mission of WCG," said WCG Chairman and CEO Donald A. Deieso, Ph.D. "Using ePS' leading technology-driven solutions to assure that the activities of trial sites are coordinated, well informed, and efficiently managed will result in significant benefits to pharmaceutical companies, contract research organizations (CROs), institutions, and subjects."
"Joining WCG will fulfill our company's enormous potential as a beneficial force in the conduct of clinical trials," said ePS Founder and CEO Lance Converse. "We look forward to contributing our technology and clinical support services to the broader mission of WCG – industry transformation," he added. September has been an important month for our company; in addition to the WCG transaction, we were pleased to have been chosen as the winner of the 'Disruptive Innovator of the Year' award during the fourth annual Dpharm: Disruptive Innovations to Advance Clinical Trials conference – a recognition by leading industry professionals of the value of our work."
Like the other companies within WCG, ePharmaSolutions will continue to operate independently at its current locations, and will retain both its leadership and brand. WCG will support ePharmaSolutions as it continues to expand its platform solution with access to capital, complementary clinical expertise, corporate support, and integration of its technologies within the WCG family of companies.
Financial details about the transaction were not disclosed.
About Crosstree Capital Partners
Crosstree Capital Partners represented ePharmaSolutions in its transaction with WCG. The transaction represents Crosstree’s 18th eClinical and technology-enabled transaction in the drug outsourcing industry - more than 5x the experience of any other investment bank. Since 2003, business owners have trusted Crosstree to identify and pursue strategic alternatives, devise strategies to enhance shareholder value, and raise capital to meet growth objectives. Crosstree’s deep sector coverage offers clients unique industry insights, well-established strategic relationships across the globe and superior access to capital markets. Crosstree has advised clients throughout North America, Europe, India, China, Latin America and Australia.
For more information, please visit www.crosstreecapital.com or follow us on Twitter @CrosstreeCP.
About the WIRB-Copernicus Group
WIRB-Copernicus Group (WCG) is the world's largest provider of regulatory and ethical solutions for clinical research, including Institutional Review Board (IRB) and Institutional Biosafety Committee (IBC) review. The pioneer of independent ethical oversight, WCG continues to drive progress in the clinical research space. Today, WCG's solutions are built upon the foundation of ethical review, but have grown to include a suite of complementary services and technologies. These offerings include electronic informed-consent solutions, interactive Part 11-compliant online learning management solutions for clinical research professionals, and software compliance and research oversight solutions for institutions. WCG leverages its industry insight to stimulate growth, foster compliance, and maximize efficiency for those who perform clinical trials.
For more information, please visit www.wcgclinical.com or follow us on Twitter @WCGClinical.
About ePharmaSolutions, Inc.
ePharmaSolutions is a leading provider of eClinical solutions and specialty clinical services that help improve the way trial sites are selected, trained, activated and managed to exceed enrollment goals. ePharmaSolutions has won multiple industry awards for its eClinical platform which now hosts more than 350,000 clinical researchers in 130 countries for the leading pharmaceutical companies and CROs. ePharmaSolutions is headquartered in Plymouth Meeting, PA with offices in Slough, UK.
For more information, please visit www.epharmasolutions.com or follow us on Twitter @ePharmaSolution.