Velos Implements Phase II of Strategic Plan: Integration and Collaboration

July 29, 2008

Company News Release

Velos, Inc., announced today its plans to implement Phase II of its Strategic Plan ? an integration with third party systems and systems-based collaboration across research sites and sponsors.

Velos Implements Phase II of Strategic Plan:
Integration and Collaboration

Fremont, CA — July 21, 2008 — Velos, Inc., a resource for clinical trials management information systems for large investigator sites, today announced plans to implement Phase II of its Strategic Plan – integration with third party systems and systems-based collaboration across research sites and sponsors.  
 
Version 8 of Velos eResearch, which goes into production this month, is the most substantial release yet from Velos in terms of product scope. In addition to numerous major enhancements to core clinical, financial, and system integration products, the company launched three new integrated products with Version 8 that support biospecimen management (Velos eSample), IRB and regulatory compliance (Velos eCompliance), and patient reported outcomes (Velos ePortal).  
 
“Velos will continue to add functionality to these products,” said Priti Sahai, MD, Velos VP of Product Development.   “At the same time, the research community we serve is better positioned to leverage the company’s system integration capabilities than they were even a year ago. This is the result of progress at hospitals and clinics in deploying clinical source systems, such as medical record systems.  In addition, progress has been made among research sponsors to be able to reliably receive and exchange data.”
 
Noteworthy progress on the research sponsor side are the NCI caGRID technology, the underlying service-oriented architecture that supports caBIGTM, as well as ongoing progress at CDISC and their work harmonizing CDISC with HL7. Velos has been an ardent supporter of caBIG from inception and continues to champion its cause.
 
The company’s integration and collaboration initiatives are two-pronged: further enable customer integration in the larger research community, including government and industry sponsors; and help customers drive integration with source systems at their research sites.  A first priority, now underway, is to enable the Velos customer base for caGRID.  Similar initiatives are proceeding on the industry sponsor side.
 
“Velos customers receive by far the most NCI and NIH grants among commercial clinical trial management systems,” said John McIlwain, President of Velos. “We hope enabling Velos customers for caGRID will be helpful to the NCI and NIH in achieving the objectives encompassed by caBIG. At the same time, this will further support Velos customers collaborating with researchers and sponsors beyond the immediate Velos customer community.”  
 
Velos has long maintained a lead in system integration and research collaboration. More than a decade ago, the company first implemented HL7 standard interfaces for customers. In 2004, Velos was the first commercial vendor to introduce a federated, FDA-compliant Web-based collaboration grid where clinical trial data flows electronically from source systems, to research sites, to lead investors, to sponsors.  Today, Velos customers can open a case report form stored in any Excel, Access, XML, or comma-delimited format, push a button, generate the form(s) in Velos and broadcast the study across over a grid for subsequent HIPAA and FDA-compliant clinical trial fulfillment.
 
Like Velos, it is noteworthy that caGRID is not limited, technologically, to cancer research.  Velos is used in over 40 medical specialty areas.  The great majority of Velos customers purchase the Velos eResearch product line for use in many disease areas.
 
“The Velos customer base is uniquely positioned to help energize caBIG beyond cancer and into the broader U.S. research community,” continues McIlwain. “We’re fortunate to be working with high caliber customer partners and members of the caBIG community to help foster robust system-based integration and collaboration. This airplane only needs a short runway to take off.”
 

About Velos eResearch

Velos eResearch is a comprehensive clinical research management product line designed specifically for investigators and their research teams.  The product line blends easily into existing workflows, streamlining and accelerating the research process and supporting high quality, productive clinical trial fulfillment.  Answering the need for a connectivity and data aggregating solution in the field of clinical research, Velos eResearch offers a cost-effective means to bring together all the participants in the research process. Velos has ushered in a new generation of Internet-platform research capabilities that fundamentally improves the pervasiveness and efficiency of clinical research for the research team, trial sponsors, and the patient.  These activities include study design, patient recruitment, task/time management and facilitating investigator and IRB activities leading up to the posting of patient results to a study database.  Such activities need to be deeply and intelligently linked to patient clinical and lab data collection, CRF-related data capture, adverse event management, and monitoring.  Integrating these information needs in an easy-to-use, workflow-oriented environment is what the Velos eResearch product line achieves.

About Velos

Velos is the trusted clinical trial management resource for investigators, sponsors and academic leaders throughout the U.S. A diverse range of end users across the Velos customer base use Velos eResearch to improve the efficiency and safety of their clinical studies.  Velos market share among large, highly regarded medical centers has continued to increase throughout the past few years and now includes 21 Top 25* U.S. centers. Clinical and Translational Science Award (CTSA) winners have chosen Velos by a wide margin versus all other vendors combined.  Velos eResearch customers receive 30 percent of extramural clinical research funding from the National Institutes of Health—also the largest such share for any commercial clinical trial management system.  Most of these larger institutions are rolling out Velos eResearch across their healthcare systems and medical research programs.
 
Velos systems fundamentally improve the way data is collected, organized and shared. A pure Internet technology platform, Velos eResearch harnesses advanced powers of the Internet to enable research sites, sponsors, and patients to participate in a secure, integrated system platform.  System users are freed of redundant data entry and related time-delays associated with most clinical research today. With emphasis on workflow, Velos integrates the clinical, administrative and financial information needs of research management.  Founded in 1996, Velos is privately held with headquarters in Fremont, California.  For more information, visit www.velos.com <http://www.velos.com/> .

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