Drug Safety Alliance taps Phase Forward
Phase Forward Inc. said today that the Drug Safety Alliance">Drug Safety Alliance has adopted its newest Web-based Clintrace solution for tracking and reporting adverse drug events.
Phase Forward of Waltham is a leading provider of data management solutions for clinical trials and drug safety; headquartered in North Carolina, the Drug Safety Alliance is a privately held company specializing in safety and other services for the biopharmaceutical and medical-device industries.
According to Phase Forward, the Drug Safety Alliance, a Phase Forward customer since 2001, is using Clintrace to assist its clients in achieving compliance with government regulations for adverse-event reporting.
Separately, Phase Forward said Tuesday that it raised about $78 million in a public stock offering.
The company said it sold 5.5 million shares at $15 per share. Underwriters have an option to purchase another 825,000 shares for over-allotments. The option expires after June 21.
Thomas Weisel Partners LLC and UBS Investment Bank were joint underwriters for the offering. Piper Jaffray & Co., Craig-Hallum Capital Group LLC and Pacific Crest Securities were co-managers for the deal. (AP)
