It’s another day, another deal for Phase Forward Inc., which announced a multi-year deal with Quotient Clinical.
Quotient Clinical, a subsidiary of U.K.-based Quotient Bioresearch, provides early support services for biotechnology and pharmaceutical firms, including proof-of-concept and first-in-human trials. The deal calls for Quotient Clinicial to implement the Waltham, Mass.-based data management provider’s clinical trial management and data capture software. Financial terms were not disclosed.
The agreement marks the third contract for Phase Forward in as many days. The company signed a deal with clinical trial services provider PharmaNet Development Group Inc. Nov. 4 and a pact with the Food & Drug Administration Nov. 2.
That makes for heady days for Phase Forward, which sits in a shiny new office tower on 4th Street in Waltham, overlooking I-95 and the Cambridge Reservoir. Last week the company beat Wall Street’s expectations with its third-quarter results, posting net earnings of $1.2 million on $53 million in sales.
During a conference call with analysts, CEO Bob Weiler said there appeared to be a modest surge underway in funding for biotech companies, portending a restart of clinical trials now shelved at development-stage firms. He suggested a potential jump in business from larger pharmaceutical companies — many of which will have blockbuster drugs coming off patents during the next few years.
