Precision for Medicine Acquires Algorics, Enhancing Clinical Technologies and APAC Presence

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May 29, 2024, 07:30 ET

Acquisition adds two proprietary clinical technologies to its portfolio and enhances Precision's global capabilities in clinical data management, biostatistics and programming

BETHESDA, Md., May 29, 2024 /PRNewswire/ -- Precision for Medicine, a global leader in biomarker-driven clinical research and development supporting life sciences companies, today announced the acquisition of Algorics, one of the fastest-growing clinical technologies and biometrics service providers to the biopharma industry. The addition of Algorics brings two innovative clinical technologies and further bolsters Precision for Medicine's reach in the Asia-Pacific region. The acquisition also enhances Precision's global capabilities in clinical data management, biostatistics, and programming.

"The acquisition of Algorics represents a strategic enhancement to our suite of clinical technologies that will enhance our project teams' abilities to monitor and advise our sponsors on the performance of their clinical trials while also enhancing our ability to transform diverse datasets with agility and scale. Algorics' team of biostatisticians and data scientists also fortifies our operational presence in the vitally important Asia-Pacific region further growing our operational footprint," said Sofia Baig, President of Clinical Solutions at Precision for Medicine.

Algorics brings two innovative clinical technologies to Precision for Medicine, enhancing trial analysis, execution, and oversight. MetaVate, a powerful metadata transformation engine, facilitates efficient and consistent data conversion to meet Clinical Data Interchange Standards Consortium (CDISC) standards and expedite submission readiness, bolstering the statistical programming and biostatistics services offered to our clients. The second technology, Clarity, is a platform for clinical intelligence, risk-based monitoring and study performance management that centralizes trial data across various sources involved in today's complex trials. Clarity analyzes and delivers key insights on patient, site and study performance, enabling Precision for Medicine and client project teams to make timely decisions and render enhanced trial outcomes while simplifying risk and oversight throughout study execution.

"We are proud to join Precision for Medicine, a company that shares our commitment to leveraging data and technology to optimize clinical development and improve patient outcomes," said Nithiya Ananthakrishnan, Founder and Chief Executive Officer of Algorics and now Senior Vice President of Biometrics with Precision for Medicine. "The integration of our technologies and staff into Precision for Medicine will create scale, technological advantages and greater opportunities to serve our clients across the globe with a comprehensive suite of solutions that span the continuum of clinical research, from trial design and execution to laboratory expertise, data sciences and advanced manufacturing."

About Precision for Medicine

Precision for Medicine is the first biomarker-driven clinical research and development services organization supporting life sciences companies in the use of biomarkers essential to targeting patient treatments more precisely and effectively. Precision applies a transformational approach to clinical research that integrates clinical trial design and execution with deep scientific knowledge, laboratory expertise, data intelligence and advanced manufacturing solutions. This convergence is driving faster clinical development and approval. Precision for Medicine is part of Precision Medicine Group, with 3,500 people in 40 locations globally across North America, Europe and Asia-Pacific. For more information, visit PrecisionForMedicine.com.

About Algorics

Algorics is a specialized data sciences partner to the life sciences industry focusing on data management, biostatistics, statistical programming, and data standardization. The company supports a global portfolio of biopharmaceutical and CRO clients with cost-effective and high-quality data services underpinned by technology know-how and access to talent across US, Europe, and Asia. With the goal to increase productivity and accelerate development with technology-backed solutions, Algorics continues to advance next-generation data standardization and faster statistical reporting. For more information, visit Algorics.com.

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