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Nextrials’ revenues grow by 80 percent as industry adoption of Nextrial’ Prism accelerates, aided by growth in the medical device clinical trials market.
San Ramon, CA-May 13, 2008-Nextrials (www.nextrials.com), a leader in clinical research software and services, boosted its revenues by 80 percent in 2007 through continued growth in multi-study contracts and increased traction within the medical device development community for its flagship Prism® clinical trial management software. Prism’s selection for medical device clinical trials conducted by companies such as Gynesonics, Z-Tech Medical, EKOS, and CardioMEMS helped Nextrials maintain the business momentum it began in 2005 with the accelerating adoption of its Internet-based electronic data capture (EDC) technology. In 2007, biopharmaceutical and medical device companies initiated over two dozen clinical trials using Prism as their data collection management platform.
“Medical device researchers often have unique study requirements for clinical trials,” noted Robin Carlson, director–clinical affairs at EKOS. “We found we were able to quickly use Prism in trials validating our ultrasound-accelerated infusion catheters, and as a result, were able to review patient data in real-time. This helped our product development team to better understand clinical parameters and ensured the safety of patients enrolled in our studies.”
“Nextrials continues to advance as a company, particularly through Prism’s selection for large, global clinical trials and multi-study contracts,” noted James Rogers, chief executive officer and co-founder of Nextrials. “However, it’s interesting to note that we are mirroring what is taking place within the life sciences investment community. Recent research conducted by Thomson Financial noted a 40 percent growth in investments in medical device companies, so we’re not surprised to see a corresponding increase in the number of device development sponsors utilizing Prism in 2007. The boost in medical device studies and the increase in the size and complexity of all clinical trials have propelled Nextrials to impressive revenue gains in 2007. The first quarter of 2008 indicates we are on track for another year of aggressive growth.”