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Phase Forward, a provider of data management solutions for clinical trials and drug safety, today congratulated its customer GSK on winning a 2008 Technology Innovation Award from The Wall Street Journal.
Phase Forward Customer GSK Wins Prestigious Wall Street Journal Technology Innovation Award
Software System, Co-Developed by GSK and Phase Forward Lincoln Safety Group, Helps to Predict Safety Issues in Early-Stage Pharmaceutical Research
Waltham, Mass. – October 27, 2008 – Phase Forward <http://www.phaseforward.com/> (NASDAQ: PFWD), a leading provider of data management solutions for clinical trials and drug safety, today congratulated its customer GSK <http://online.wsj.com/public/quotes/main.html?symbol=gsk> on winning a 2008 Technology Innovation Award from The Wall Street Journal, taking top honors in the Healthcare IT category. The Journal received more than 700 entries for the awards.
The Innovation Award recognized GSK’s Molecular Clinical Safety Intelligence (MCSI) system, co-developed with the Phase Forward Lincoln Safety Group. The MCSI solution helps GSK researchers to screen and triage novel drug candidates for potential adverse medical reactions at a much earlier point in the drug development process than previously possible. MCSI enables, for the first time, direct translation of safety knowledge from human clinical experience to early-stage drug discovery. MCSI compares the chemical and pharmacological profiles of early drug candidates to safety knowledge about drugs that have been previously tested.
The Wall Street Journal’s award description notes, “This helps pharmaceutical researchers [at GSK] avoid spending time and resources on promising drugs only to find after several years that the drugs can’t be marketed because they’re potentially harmful.”
The software was developed by a multi-disciplinary team involving GSK’s Global Clinical Safety and Pharmacovigilance (GCSP) and Computational Chemistry teams, and the Phase Forward Lincoln Safety Group, with input from GSK’s Centre of Excellence for Drug Discovery scientific community.
“We are honored that our innovative GSK team has been recognized for creating a system that will help to minimize the attrition of products in our pipeline due to safety concerns,” said Dr. June Almenoff, Vice President, Safety Evaluation and Risk Management, Global Clinical Safety and Pharmacovigilance, GSK.
According to GSK, MCSI is the first system that brings together knowledge of chemistry, human and animal safety, drug metabolism and pharmacology in ways that allow scientists to rapidly evaluate potential safety risks of novel medicines as they are being designed and synthesized in the laboratory.
“We offer our long-time friend and partner Dr. Almenoff and her team our most sincere congratulations on this impressive industry honor,” said Phase Forward Lincoln Safety Group President Chan Russell. “Having had the opportunity to work closely together on many initiatives, including the MCSI system, we have seen firsthand the organization’s commitment to innovation as a means to bring safer drugs to market. We’re proud to be close working partners with a group so deserving of this recognition.”
About Phase Forward
Phase Forward is a leading provider of integrated data management solutions for clinical trials and drug safety. The company offers proven solutions for electronic data capture (InForm™), phase I clinic automation (LabPas™), clinical data management (Clintrial™), clinical trials signal detection (CTSD™), strategic pharmacovigilance (Empirica Signal™) and Signal Management, adverse event reporting (Empirica Trace™), applied data standards (WebSDM™) and Web-integrated interactive response technologies (Clarix™). In addition, the company provides services in the areas of application implementation, hosting and validation, data integration, business process optimization, safety data management and industry standards. Phase Forward’s products and services have been utilized in over 10,000 clinical trials involving more than 1,000,000 clinical trial study participants at over 280 organizations and regulatory agencies worldwide including: AstraZeneca, Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S. Food and Drug Administration, GlaxoSmithKline, Harvard Clinical Research Institute, Merck Serono, Novartis, Novo Nordisk, PAREXEL International, Procter & Gamble, Quintiles, sanofi-aventis, Schering-Plough Research Institute, Servier, Tibotec and the U.K. Medicines and Healthcare Products Regulatory Agency. Additional information about Phase Forward is available at www.phaseforward.com <http://www.phaseforward.com/> .
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, the performance of Phase Forward’s products and services, continued market acceptance of Phase Forward’s products and services, and the ability of Phase Forward’s customers to realize benefits from the use of Phase Forward’s products and services. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond Phase Forward's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things, the ability of Phase Forward’s customers to realize benefits from the use of its products and services, the possibility that customers’ needs or plans may change over time, and the introduction or improvement of products and services competitive with those of Phase Forward. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Phase Forward undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by Phase Forward, see the disclosure contained in Phase Forward's public filings with the Securities and Exchange Commission including, without limitation, its most recent Annual Report on Form 10-K.