COMPANY
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FOR IMMEDIATE RELEASE
Contact:
Madalynne Chapman: (510) 608-5744 mchapman@velos.com
CENTERWATCH AND VELOS FORM INFORMATION AND CO-MARKETING AGREEMENT
San Francisco, CA — March 23,
2001 — CenterWatch, a leading publisher of information about
experimental treatments in clinical trials, and Velos, Inc., an
eServices infrastructure company serving the healthcare community,
have signed a multi-year license agreement that will enable Velos to
launch an internet-based clinical trials management system called
Velos eResearch. The Velos eResearch system will provide
Investigator-centered, Internet-based software designed to expedite
the research process by supporting the administration and execution
of clinical research and trials. . As part of the agreement, Velos
will provide a variety of CenterWatch clinical trials information to
users of the Velos eResearch system. In addition, Velos and
CenterWatch will co-promote their services to the clinical trials
community.
“Most clinical trials automation initiatives today
focus on activities related to electronic submission of trial data
to sponsors and regulatory approval authorities,” according to John
McIlwain, Chairman of Velos. “The reality is that the activities
leading up to such trial data submission, such as patient
recruitment, study design, IRB approvals, and related trial project
management, are by far the most time-consuming and costly aspects of
trial execution. Velos has the technology and business model to
significantly accelerate these time-consuming aspects of clinical
trial execution. CenterWatch’s extensive on-line clinical trial
listings and other content significantly extend the value of Velos
eResearch for investigators and trial sponsors.”
Added Paul
Molinari, Manager of Content Solutions for CenterWatch, the
agreement will enable clinical research Investigators to take
advantage of a powerful online tool. “CenterWatch research has shown
that study initiation, patient recruitment and data collection are
primary causes of delay in the clinical research process. Data
collection activities, for example, account for the more than half
of the cycle time in phase II and III trials. We’re delighted to be
collaborating with Velos eResearch as they target solutions designed
to streamline areas in the clinical research
process.”
About CenterWatch
CenterWatch is a
Boston-based information services company that focuses on the
clinical trials industry. CenterWatch offers a variety of
publications and services for clinical research and health
professionals, patients and health consumers. In 2001, an estimated
five million patients and their advocates will view more than 42,000
clinical trial listings on the CenterWatch web site. CenterWatch is
a subsidiary of the Medical Economics Company, publishers of the
Physicians Desk Reference.
About Velos
Velos is
a leading designer and developer of innovative healthcare
information systems. Velos provides an integrated clinical and
administrative product suite for specialty medicine and clinical
research. Velos markets its software solutions, together with system
integration and support services, to healthcare providers and
clinical trial sponsors. Velos is privately held with headquarters
in Silicon Valley.
This press release contains
forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those set forth in the forward-looking statements. These
forward-looking statements represent Velos’ judgment as of the date
of this release. Actual results may differ materially from those
projected. Velos disclaims any intent or obligation to update these
forward-looking statements.
Information regarding the press
release may be obtained by contacting Madalynne Chapman
(510-608-5744 / mchapman@velos.com) or visiting
our website: www.velos.com
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