Phase Forward acquires Clarix

Phase Forward Inc. of Waltham said today that it has acquired privately held Clarix LLC of Pennsylvania for $40 million in cash.

Phase Forward provides data-management solutions for clinical drug trials and drug safety while Clarix is focused on fully Web-integrated interactive response technology, or IRT.

The majority of Phase II and Phase III clinical trials require randomization and related medication supplies management, and IRT is the predominant solution for automating these processes, Phase Forward said.

Phase Forward said it estimates the current IRT market to be between $200 million and $250 million, and believes that the addition of an IRT offering will present significant cross-selling opportunities by enabling Phase Forward to offer both new and existing customers an expanded product offering.

Phase Forward said in its press release, "Clarix generated approximately $2.7 million in revenue in 2007, and Phase Forward estimates that they will generate approximately $6.3 million for the full year 2008 on a stand-alone basis."
(By Chris Reidy, Globe staff)