The venture will bring IBM’s scalability to Phase Forward’s drug development technology. This adds credibility to Phase Forward’s goal of becoming an end-to-end solutions provider for the clinical trial process, while providing IBM an association with a known player in drug development and broadening its presence in the life sciences market.
IBM and Phase Forward have agreed to a joint venture to develop clinical trial data solutions.
IBM and Phase Forward have signed a global agreement to collaborate in developing new solutions to manage the collection and reporting of clinical trial data. Phase Forward already has an established position in this market, but the task of integrating its major recent acquisitions Provenda and Clinsoft could have proved challenging on its own. This deal will add scalability, hosting options, IT consulting and global service capabilities to Phase Forward’s position.
While IBM is an established player in the drug discovery arena, it has not yet established itself as an active participant in the drug development process. This move should do much to rectify this situation, boosting IBM’s development portfolio significantly.
In short, the joint venture will allow IBM to establish its presence as a player in the drug development space, while allowing Phase Forward to access IBM’s global services reach and its proven technological and integration capabilities. According to Shiv Tasker, president and CEO of Phase Forward, IBM is a great complement to (Phase Forward’s) business because of its strength in providing global, secure infrastructures to customers, superior technology, and unmatched implementation experience.
This deal adds credibility to Phase Forward’s ultimate vision of offering an end-to-end solution for managing the clinical trial process. With IBM’s scalability and global support capabilities, Phase Forward is much better positioned to integrate the patient diary, clinical data management and adverse events reporting products that it has gained through its acquisitions. IBM, in turn, gains association with a company well known for its leading position in web-enabling the clinical trial process.