Technology business makes £22m American acquisition
Life sciences IT provider Instem has bought an American clinical trial technology business for $31m (£22m).
d-Wise Technologies is based in North Carolina and has a UK office in Manchester. It specialises in technology consulting and has a Software-as-a-Service (SaaS) solution which enables clients to anonymise their clinical trial data.
Phil Reason, chief executive of Instem, saidd: “More than a growth-based acquisition, this can truly help us transform the industry landscape.
“Our combined capabilities will help us meet the demand by our clients to create a more connected ecosystem across the life sciences in the global effort to bring life enhancing products to market faster.”
Instem, an AIM-listed business based in Stone, Staffordshire, provides IT solutions to improve the productivity of health companies’ processes in the discovery and development of new drugs, therapies and products.
Reason added: “Behind all of the technology is a highly talented, experienced and motivated d-wise team that shares our mission and values. They are widely trusted industry thought leaders and practitioners, committed to delivering an exceptional client experience.”
More to follow.