Cmed Raises £5M Growth Capital for Timaeus Technology

HORSHAM, England--(BUSINESS WIRE)--Cmed Group, an organisation which combines clinical research services and leading edge technology for the capture and management of clinical data, has raised £5 million in growth capital from Scottish Equity Partners (SEP).

Cmed will invest the new funds in the global expansion of Timaeus, a single, purpose-designed intelligent data acquisition and management solution, which represents best-in-class technology.

Timaeus offers significant advantages over rival systems including rapid set-up and the ability to deal with complex clinical studies. It also operates over low bandwidth, enabling GSM and GPRS wireless communication with remote clinical trial sites, as well as web use. The system is already being used successfully by major pharmaceutical and biotechnology clients.

Timaeus delivers improved efficiency, saving time and costs and it is also highly flexible and scaleable, enabling it to be used in large global drug development studies.

Cmed was founded in 1999 by former senior pharmaceutical and clinical research executives led by Chief Executive Dr David Connelly. It has already established a strong track record in supplying a range of clinical research services tailored to the needs of individual international pharmaceutical and biotechnology clients.

The company, which has bases in the UK, United States and Romania, will use the new funds from SEP to expand its services and to capitalise on significant global growth potential for its highly innovative Timaeus system.

Cmed Chief Executive Dr David Connelly said: ”We are delighted to have secured growth capital from SEP which has an excellent reputation for helping to develop leading-edge technology businesses. The new funds will enable us to realise the full potential of Timaeus which represents groundbreaking advances in clinical data capture and management technology.”

Jan Rutherford, who led the investment for SEP said: “We have great confidence in Cmed’s abilities to build a world class business. The overall funding climate remains difficult, but SEP remains fully committed to investing in new opportunities. We have significant expertise in both the healthcare and information technology sectors and we look forward to working with Cmed. It has a strong management team and a breakthrough technology aimed at a profitable and expanding global market.”

NOTES TO EDITOR:

About Cmed:

Cmed is a CRO (Contract Research Organisation) based in Horsham, UK; New Jersey, USA; and Timisoara, Romania. Formed by pharmaceutical industry executives, Cmed uniquely combines full clinical research services with proprietary advanced clinical data capture and management technology, Timaeus. Timaeus is the world’s most sophisticated and complete electronic data capture and management system. It is the first such system enabling multiple types of data capture within a single trial (including paper, web eDC (electronic data capture) and an advanced wireless eDC appliance) with full data management capabilities. The eDC appliance can capture data directly from medical devices and e-source support etc. It can operate over a small bandwidth via mobile phones, making it suitable for collating data in remote locations in the developing world. Timaeus, which delivers significant efficiency and cost benefits is already in use by clinical research professionals in major pharmaceutical companies.

To contact Cmed in regard to either our CRO services or our technology:

email contact@cmedresearch.com

or phone UK: + 44 (0)1403 755 050 US: +1 908 665 1090

To arrange an interview with Cmed Chief Executive Dr David Connelly or for more info contact Alan Eggleston, Head of Marketing & Sales

Tel: + 44 (0) 1403 56401 Email: aeggleston@cmedresearch.com

www.cmedresearch.com

About Scottish Equity Partners (SEP)

SEP is a leading European investment firm with offices in Glasgow and London. It helps entrepreneurs to create and build world class companies. SEP has backed leading players in information technology, healthcare and energy-related technology. SEP has significant expertise in the healthcare and medical technology sector. Our investment team has a wide range of specialist skills, including commercial and research backgrounds in biotechnology, clinical trials and medical devices. Our successes range from novel medical devices and therapies, to innovative software and services to the healthcare industry. Our main areas of interest include medical devices, diagnostics, specialty pharmaceuticals, as well as platform and enabling technologies and new therapeutics. Recent additions to the portfolio include cardio-vascular medical device company Stentys, and heart attack diagnostic device pioneer Heartscape.

www.sep.co.uk