FOR IMMEDIATE RELEASE
MEDIDATA SOLUTIONS ACHIEVES RECORD RESULTS IN 2007
EDC Company Reaches Another Milestone with Enterprise and Mid-Market Customer
Commitments, CRO and Technology Provider Partnerships and
Progressive Product Vision
NEW YORK, NY – March 3, 2008 – Medidata Solutions, a leading global provider of electronic clinical data capture (EDC), management and reporting solutions, today announced record results for 2007. Medidata estimates that its revenues for 2007 increased by more than 60 percent year-over-year and that it achieved the highest revenue quarter in the company’s history in Q4. The company’s continued growth in 2007 was driven by the introduction of Medidata Rave® 5.6, significant customer wins, extended relationships with existing customers and new and expanded partnerships with contract research organizations (CROs). While supporting its growth with significant resource expansion, Medidata also further strengthened its position as an industry leader through strategic collaborations with key technology providers.
Increasing Market Acceptance
From big pharmas to mid-market companies to smaller biotechs, Medidata in 2007 further demonstrated its position as a key clinical technology partner. Medidata secured a total of 42 new Rave customers in 2007, including enterprise deals with Array BioPharma, Elan Pharmaceuticals, Inc., H. Lundbeck A/S, Orion Corporation and Wyeth Pharmaceuticals. Medidata also extended existing relationships with 35 customers.
Partnering with CROs and Other Service Providers
Medidata continued to expand its partnerships with CROs and other service providers through its ASPire to Win® program which provides training and support to CROs in the implementation of Medidata Rave, the company's primary product offering for conducting clinical trials. Seven ASPire to Win partners were added in 2007, including Chiltern Ltd, Eliassen Group, PAREXEL International and EPS, one of the largest CROs in Japan. In addition, Medidata reached a one-year partnership milestone with INC
Research as well as a two-year milestone in its partnership with ICON.
Collaborating for End-to-End Clinical Research
With a focus on enabling end-to-end clinical research solutions, Medidata established strategic partnerships with several key technology companies during the past year. These partnerships lead to successful integrations between Medidata Rave and TrialSpace Designer XCP™, a clinical trial design and protocol authoring tool from FastTrack, and SAS® Drug Development, a data management and analysis solution from SAS Institute Inc. Medidata also joined forces with PHT, an electronic patient diary company, to integrate PHT’s LogPad® ePRO system with Medidata Rave, a product integration that
was implemented by Sucampo Pharmaceuticals.
Focusing on Innovation
With this year’s introduction of Medidata Rave 5.6, the latest version of the company’s electronic data capture, management and reporting system, customers and partners benefited from enhanced ease of use for sites and sponsors, additional features and functionality and improved performance. With these enhancements, Medidata Rave is better positioned to serve as the focal point for the aggregation and dissemination of our clients' clinical trial data – handling both EDC and clinical data management system (CDMS) tasks on one system. Medidata Rave 5.6 also builds on Rave’s scalability, multiple language capabilities and study design modules, streamlining data collection at clinical sites for access by the client's entire clinical study team.
Reaching the Customer
In 2007, Medidata continued to expand its customer-focused initiatives, directly reaching customers through a range of webinars, conferences and user group events. Collaborating with leading providers Fast Track and invivodata, as well as CDISC, Medidata delivered webinars and demonstrations on leveraging industry standards to share data across systems, including protocol authoring and ePRO. Medidata also partnered with United BioSource Corporation and Tessella to deliver a six-part webinar series to educate sponsors and service providers on the complexities of planning and executing an adaptive clinical trial. In addition, Medidata executives chaired, presented and led expert panel discussions at key conferences this year, including the DIA Annual Meeting, Clinical Trials Congress, CDISC European Interchange, and DIA Japan.
Expanding the Team
To keep up with its growing global customer base and product research and development, Medidata increased its total number of worldwide resources by 44 percent in 2007. Significant additions to the company's executive team included Bruce Dalziel, chief financial officer; Barton Cobert, M.D., vice president of global regulatory initiatives and pharmacovigilance; Frances Nolan, vice president of global quality assurance; Tony Hewer, Ph.D., senior director of global quality assurance for EMEA (Europe, the Middle East and Africa); Michael Otner, general counsel; and Glenn Watt, corporate security and privacy officer and vice president of global information security and privacy.
Noted by Industry
In 2007 Medidata was honored with the Inc. 5,000 award, ranking 13th in the magazine’s list of fastest growing private companies in the New York, New Jersey and Long Island region, 14th in the software industry category and 173rd in the overall Inc. 5,000. Medidata’s Chief Executive Officer, Tarek Sherif, was named among the prestigious PharmaVOICE 100 list of the top inspirational people in the life sciences industry. Inaddition, Earl Hulihan, vice president of global regulatory affairs and quality assurance,
was honored with the Drug Information Association’s (DIA) Founders Service Award at the 2007 DIA Annual Meeting in recognition of his lifelong contributions to medicine and regulatory science.
“Medidata has grown and evolved the EDC market by continuously investing in Medidata Rave’s architecture and capabilities as well as by listening to our customers and responding to them in order to drive broad scale adoption of our products and services – from large enterprise level deals, to commitments from mid-market companies in a wide range of therapeutic areas,” said Tarek Sherif, CEO of Medidata. “We believe our success in 2007, market vision, strategic partnerships and staff expertise have put us in a solid position to continue growing our business and supporting our customers as we
move into 2008.”
About Medidata Solutions Worldwide
Medidata Solutions helps the world’s leading pharmaceutical, biotechnology, medical device and research organizations maximize the value of their clinical research investments. Innovative process design, technology and services streamline clinical trials by providing early visibility to clinical data – the lifeblood of every research organization. Working with companies and institutions both large and small, Medidata Solutions helps clinical researchers accelerate the process of bringing life-enhancing
treatments to market – on six continents and in more than 80 countries. Medidata Solutions brings significant value to its broad client base with deep clinical experience and expertise in more than 20 therapeutic areas, trials in Phases I, II, III and IV, registries and surveillance, and studies with thousands of investigators and tens-of-thousands of patients. For more information, please visit www.mdsol.com
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