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High-Tech and High-Science Converge in Acquisition Aimed at Achieving Higher Quality Outcomes for Research Sponsors
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Nov 03, 2021, 11:03 ET
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CARY, N.C., Nov. 3, 2021 /PRNewswire/ — THREAD, a leading technology and service provider enabling decentralized clinical trials (DCTs), today announced that it has acquired Modus Outcomes to combine high-technology and high-science in one platform designed to achieve higher-quality outcomes for research sponsors. Headquartered in Cambridge, Mass., Modus Outcomes is a research consultancy that supports the design and selection of electronic clinical outcome assessments (eCOA), participant-focused trial design and scientific delivery of DCTs.
As clinical trials have grown more complex, so has effectively designing and implementing endpoints, which are now required in most research studies. With this acquisition, THREAD will bring together its eCOA technology platform with Modus’ services to provide global biopharma and contract research organizations (CROs) with a unique solution that optimizes their decision-making for developing and commercializing new therapies. Modus brings to THREAD:
THREAD announces acquisition of Modus Outcomes to converge high-tech and high-science for accelerated DCTs
The acquisition of Modus fits squarely in THREAD’s growth strategy. Since partnering in 2019 with Water Street Healthcare Partners and JLL Partners, two strategic investment firms specializing in health care, the company has invested significantly to expand its global footprint to 40+ countries, add new features to its proprietary decentralized clinical platform and enhance its services, including providing customers with 24×7 multilingual support.
Financial details of the acquisition are not being disclosed.
THREAD is a leading provider of a proprietary, decentralized research platform and suite of supporting services used by biopharma, CROs, and life science organizations to remotely capture data from participants and sites during, in between, and in lieu of in-clinic visits. THREAD’s platform and supporting services are helping customers to shorten study launch timelines, reduce study budgets with Virtual Visits, and bring studies from the clinic to patients’ homes. THREAD provides key platform features such as eConsent, eCOA/ePRO, sensors, reminders, and telehealth virtual visits to support remote data capture, hybrid virtual studies, and fully decentralized studies in key therapeutic areas. In 2019, THREAD was acquired by strategic health care investors Water Street Healthcare Partners and JLL Partners. Visit www.THREADresearch.com to learn more.
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