Cmed will invest the new funds in the global expansion of Timaeus, a single, purpose-designed intelligent data acquisition and management solution, which represents best-in-class technology.
Timaeus offers significant advantages over rival systems including rapid set-up and the ability to deal with complex clinical studies. It also operates over low bandwidth, enabling GSM and GPRS wireless communication with remote clinical trial sites, as well as web use. The system is already being used successfully by major pharmaceutical and biotechnology clients.
Timaeus delivers improved efficiency, saving time and costs and it is also highly flexible and scaleable, enabling it to be used in large global drug development studies.
Cmed was founded in 1999 by former senior pharmaceutical and clinical research executives led by Chief Executive Dr David Connelly. It has already established a strong track record in supplying a range of clinical research services tailored to the needs of individual international pharmaceutical and biotechnology clients.
The company, which has bases in the UK, United States and Romania, will use the new funds from SEP to expand its services and to capitalise on significant global growth potential for its highly innovative Timaeus system.
Cmed Chief Executive Dr David Connelly said: ”We are delighted to have secured growth capital from SEP which has an excellent reputation for helping to develop leading-edge technology businesses. The new funds will enable us to realise the full potential of Timaeus which represents groundbreaking advances in clinical data capture and management technology.”
Jan Rutherford, who led the investment for SEP said: “We have great confidence in Cmed’s abilities to build a world class business. The overall funding climate remains difficult, but SEP remains fully committed to investing in new opportunities. We have significant expertise in both the healthcare and information technology sectors and we look forward to working with Cmed. It has a strong management team and a breakthrough technology aimed at a profitable and expanding global market.”
Contact:
Cmed Alan Eggleston, + 44 (0) 1403 56401 Head of Marketing & Sales aeggleston@cmedresearch.com or Scottish Equity Partners Valerie Darroch, + 44 (0) 141 273 4000 Corporate Affairs or mobile 07970 737708 valerie.darroch@sep.co.uk
Source: Cmed Group
