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Phase Forward (Nasdaq: PFWD), the Waltham-based provider of data management solutions for clinical trials and drug safety, is expanding its partnership with Rutherford, N.J.-based SGS Life Sciences Services.
The new agreement is reportedly worth millions of dollars, but terms of the deal were not released. Phase Forward officials said that the agreement reinforces the companies’ close working relationship and expands the product offerings available to SGS. A Phase Forward customer since 2002, SGS is a contract research organization, managing nearly 100 clinical trials each year.
“Our customers are looking for an integrated eClinical solution comprising multiple systems,” said Luc Braeken, global director, Biometrics Services, SGS, in a prepared written statement.
In July, Phase Forward bought Maaguzi LLC for $11 million in cash. Maaguzi is a provider of web-based, electronic patient reported outcomes (ePRO). The company has operations in Indianapolis, Ind. and Morrisville, N.C.
Also that month, Phase Forward paid $10 million in cash to buy the Interactive Voice & Web Response Services business of Princeton, N.J.-based drug developer Covance Inc. (NYSE: CVD). That deal included a multiyear marketing agreement for the Waltham-based data management solutions provider for clinical trials and drug safety.
In June, Phase Forward signed a licensing, support and hosting services deal with GlaxoSmithKline, centered around the InForm Integrated Trial Management Solution.
For 2008 Phase Forward posted revenue of $170.2 million, a 27 percent increase from $134.3 million in 2007. The company’s net income, however, was $13.8 million in 2008, down from $29.2 million in 2007.
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