Mobile medical trial technology company wins £3m backing
A young UK company developing mobile technology to help with clinical trials has won backing of £3m from Scottish Equity Partners (SEP)
Exco InTouch in Hertfordshire supplies nine of the world’s top 10 pharmaceutical businesses with a suite of patient-focused services that use a combination of cell-phone and internet technology. It is used in clinical trials to help patient recruitment and retention, compliance and capturing patient reported outcomes data (ePRO) during clinical trials and in Late Phase observational studies.
The backing will help accelerate its expansion, particularly in the emerging mobile patient communication market. The company’s services have already successfully supported more than 600,000 patients participating in clinical trials in more than 70 countries, including working with Pfizer on the industry’s first ever mobile-enabled clinical trial. It is also targeting opportunities in the broader healthcare market as its mobile platform can also be used to manage patient education, medication compliance and measure effectiveness.
The company was founded in 2004 by Chief Executive Tim Davis and Chief Technology Officer Mike Hansen and is already generating profits and employs some 40 staff. It has just opened a second UK office in Nottingham to accommodate up to 30 more staff.