CAMBRIDGE, Mass.--(BUSINESS WIRE)--Iterative Scopes, a pioneer in precision medicine technologies for gastroenterology, announced today that it has acquired Clinical Research Strategy Group, LLC and Precision Research (CRSG/Precision), two clinical trial optimization companies focused on streamlining and accelerating the drug development process for inflammatory bowel disease (IBD). The acquisitions deepen Iterative Scopes’ ties to the IBD clinical research community and strengthen its knowledge of the end-to-end research process with a focus on provider viewpoints and pain points. Ultimately, these acquisitions will improve patient outcomes by accelerating the development of improved treatment options. The President and CEO of both companies, Chris Fourment, MD, a leading expert on clinical trials in IBD, has joined Iterative Scopes as SVP of Clinical Strategy.
CRSG/Precision work with a network of clinical research sites and community gastroenterologists nationwide to set up and optimize clinical trials for IBD drug development. Both physician founded and operated, the companies bring deep understanding of the end-to-end IBD research process, as well as ties to the provider community, which will enable Iterative Scopes to enhance the value of its rapidly-growing AI Recruitment service to crucial stakeholders. The AI Recruitment service offered by Iterative Scopes is designed to help patients, providers and pharmaceutical partners through a combination of cutting-edge, proprietary AI-driven algorithms and computer vision advances. Patients may receive novel treatments more quickly, pharmaceutical companies will be able to accelerate their IBD clinical trials, and clinical research sites will more efficiently identify eligible patients for these trials.
Iterative Scopes founder and CEO Dr. Jonathan Ng, said, “With the addition of CRSG and Precision, Iterative Scopes has the opportunity to work more closely with different types of clinical trial sites and providers and to gain sophisticated insights about their needs and pain points, with the goal of refining our ground-breaking AI Recruitment service. Community sites face different challenges and opportunities than other types of providers, and these acquisitions help us create an intimate, holistic and fulsome knowledge of all stakeholders involved in the research process. While I have known Chris for some time now, we are thrilled to finally have him aboard our team, bringing his globally renowned expertise in IBD research to Iterative Scopes."
Dr. Fourment has dedicated his career to the study of IBD and clinical trials. He is a member of the American College of Gastroenterology (ACG) and has served on the Crohn’s & Colitis Foundation’s Chapter Medical Advisory Committee. As CEO of CRSG/Precision, he has established the research process for numerous sites across the country. “I am excited to join Iterative Scopes to help the organization further harness machine learning and computer vision to aid physicians as they work to improve clinical outcomes for IBD patients earlier and with greater success,” said Dr. Fourment. “The current clinical trial process for IBD drug development has patient recruitment and clinical team workflow challenges. Iterative Scopes is employing cutting-edge computational algorithms and support services that have the potential to resolve these challenges.”
Iterative Scopes was founded in 2017 as a spin out of the Massachusetts Institute of Technology (MIT) by Dr. Ng, a physician-entrepreneur, who developed the company’s foundational concepts while he was in school at MIT and Harvard. In December 2021, the company and its investors closed a $150 million Series B financing, which attracted a roster of A-list venture capitalists, big pharmaceutical companies’ venture arms, and individual leaders in healthcare.
About Iterative Scopes
Iterative Scopes is a pioneer in the application of artificial intelligence-based precision medicine for gastroenterology with the aim of helping to optimize clinical trials investigating treatment of inflammatory bowel disease (IBD). The technology is also designed to potentially enhance colorectal cancer screenings. Its powerful, proprietary artificial intelligence and computer vision technologies have the potential to improve the accuracy and consistency of endoscopy readings. Iterative Scopes is initially applying these advances to impact polyp detection for colorectal cancer screenings and working to standardize disease severity characterization for inflammatory bowel disease. Longer term, the company plans to establish more meaningful endpoints for GI diseases, which may be better predictors of therapeutic response and disease outcomes. Spun out of MIT in 2017, the company is based in Cambridge, Massachusetts.