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Print Edition StoriesTuesday, June 30, 2009
Phase Forward, GSK sign multi-million dollar deal
By Mass High Tech staff
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GlaxoSmithKline has signed a multi-year, multi-million dollar contract with Waltham-based Phase Forward Inc., which offers data management solutions for clinical trials and drug safety. The deal centers around Phase Forward’s InForm Integrated Trial Management solution, which GSK has used since 2004 in conducting about 600 clinical trials to date.
In addition to the licensing and study support services contract, Phase Forward (Nasdaq: PFWD) and GSK have also signed a multi-year deal pertaining to hosting services.
Financial details of the contract were not disclosed.
In April, Phase Forward announced a multi-year, multi-million dollar extension of an earlier agreement with contract research organization (CRO) Everest Clinical Research Services Inc. Like the deal with GSK, the Everest agreement centered around Phase Forward’s InForm Integrated Trial Management and its hosted Central Designer module Electronic Data Capture solution.
Also in April, Phase Forward entered into a multi-year, multi-million dollar license and services agreement with Danish health care company Novo Nordisk.
Phase Forward posted revenue of $170.2 million for 2008, a 27 percent increase from $134.3 million in 2007. The company’s net income, however, was $13.8 million for 2008, compared to $29.2 million in 2007.
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