Axiom Real-Time Metrics, a Toronto-based provider of e-clinical solutions, has raised a “significant” undisclosed investment from Great Point Partners (GPP), a U.S. healthcare private equity firm.
Founded in 2001 by CEO Andrew Schachter, Axiom provides data management, data analytics, biostatistics, pharmacovigilance and other services that support the clinical study data and operational needs of small and mid-sized life sciences companies.
The investment by GPP is Axiom’s first from an external capital source.
The proceeds will be used for enhancements to Axiom’s Fusion eClinical platform and growth of professional services and business development initiatives.
Photo: Andrew Schachter, founder and CEO of Axiom Real-Time Metrics.
Axiom Real-Time Metrics Receives Investment from Great Point Partners
TORONTO, May 08, 2019 (GLOBE NEWSWIRE) — Axiom Real-Time Metrics (“Axiom”), premier provider of unified eClinical solutions and services, today announces significant strategic growth funding. The investment has been led by Great Point Partners (“GPP”), a leading health care investment firm with approximately $1.6 billion of equity capital currently under management.
This event marks a significant milestone for Axiom, which was founded in 2001. Axiom, an established player in the eClinical market, is unique in its position in this space, as its significant growth has been accomplished through reinvestment of revenue, rather than through external investment. A strategic and pivotal decision for the organization, the collaboration with GPP represents the first investment of outside capital that Axiom has taken on.
The investment by GPP will position Axiom to accelerate the development and addition of leading-edge elements to its Fusion eClinical platform. Additionally, funds will be utilized to significantly expand professional services and business development initiatives.
“Our decision to work with Great Point Partners is based on our synergies, their hyper-focused area of life sciences, and the deep understanding of the space that they bring to the table. We are thrilled to be bringing onboard our first investment into Axiom with a group of their caliber”, shared Andrew Schachter, Founder and CEO.
Axiom is currently the leading provider of eClinical software and associated services to small to medium sized life sciences companies. It’s eClinical suite, Fusion, is enterprise level in its depth and scope, with all of its technology developed in-house. A key message of Axiom “We think differently”, is delivered upon through powerful, flexible and tailored solutions , priced to suit the needs of this small to medium-sized market, and providing service and a level of dedication in its client partnerships that is unmatched.
Andrew Schachter, Founder and CEO, continued, “I am very excited about GPP’s investment into Axiom that we are announcing today. Axiom has experienced tremendous continued growth over the past several years. My team and I have grown the company for over 18 years without taking external capital to date. We have built the Fusion eClinical Suite into the world class leading enterprise platform for EDC, IWRS, ePRO and CTMS operations focused on small to medium life sciences. As we continue to expand, this investment will augment innovation and resources for the breadth and depth of the Fusion platform, its modules and the accompanying services we wrap around them. We have a lot of exciting technologies and features to be released over the next few quarters to share with our clients.”
About Axiom Real-Time Metrics
Headquartered in Toronto, Canada, Axiom delivers intuitive, powerful and cost-effective eClinical solutions and services focused around your entire study. Services include: Data Management, Data Analytics, Biostatistics and Pharmacovigilance. Axiom’s eClinical suite, Fusion, delivers a powerful range of innovative end-user focused, unified functionality and 15 modules. Axiom serves as the Connected Hub for your entire clinical study data and operational needs. Fusion Delivers: EDC, DM, IWRS, CTMS, Inventory Management, IVR, Patient Portal, AE/SAE Tracking, Safety Database, Central Lab, Imaging, eTMF, and 24/7 Project and Clinical Data Reporting. For more information, please visit http://www.axiommetrics.com/.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $1.5 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which closed on $215 million. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III which has over $280 million in committed capital) and public (BioMedical Value Fund, approximately $1.1 billion) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, outsourcing and alternate site care, pharmaceutical infrastructure and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.