June 2009

Medidata Raises $88 Million in IPO

Monday, June 29, 2009

Medidata Solutions priced its initial public offering last Thursday, following weeks of speculation over when the clinical trial software company might go public. Medidata raised $88.2 million on the NASDAQ exchange with 6.3 million shares of common stock priced at $14 a share, above its initial range of $11 to $13.

Medidata reported revenue of $105.7 million for 2008 compared with $63 million in 2007. Since its founding in 1999, Medidata has been unprofitable until its most recent quarter ended March 31, when it reported $1.7 million in net income.

Shares of Medidata Solutions rose as much as 36% to $19 in its first day of trading June 25. At press time today, shares had fallen back to $16.25 a share, still well above its pricing.

The company is trading under the symbol MDSO. 

Citi and Credit Suisse Securities acted as joint managers for the offering. Jefferies & Company and Needham & Company were co-managers.

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Dedicated Phase I Appoints New CMO

Friday, June 26, 2009

Dedicated Phase I in Phoenix, Ariz., named a new chief medical officer to head its 80-bed phase I clinical research facility. Clark Springgate, M.D., Ph.D., brings more than 25 years’ experience to the organization, having directed and participated in more than 256 clinical trials, including first-in-man and first-in-therapeutic-class studies.

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Guest Commentary: Key Imaging Technology—DCE-MRI

Friday, June 19, 2009

ACR Image Metrix
, an imaging CRO, applies imaging techniques as a predictive and prognostic biomarker improving the efficiency for drug and medical device development programs. The team of physicians and scientists at ACR Image Metrix works with pharmaceutical, biotech and medical device companies to increase the efficiency of drug and medical device development programs by integrating the appropriate imaging modalities. In this guest commentary, assistant professor of radiology at University of Pennsylvania Medical Center Mark Rosen, M.D., Ph.D., discusses the advantages of dynamic contrast enhanced MRI (DCE-MRI).

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AAHRPP Accredits Another 13

Thursday, June 18, 2009

The Association for the Accreditation of Human Research Protection Programs (AAHRPP) accredited another 13 organizations last week, bringing the total number of AAHRPP-accredited organizations to 188.

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