Earlier today, Deloitte declared that it took over Intrasphere Technologies, Inc. by acquiring substantial number of assets of the company. The terms of the deal were not revealed.
Intrasphere is a global drug safety and regulatory consulting business company headquartered in Jersey City, New Jersey. Its European headquarters are in London. The company serves life sciences companies and enables them to enhance signal intelligence, improve product safety, pharmacovigilance, and manage regulatory information.
Intrasphere’s software solution called PharmaCM was one amongst the assets acquired by Deloitte as a part of the deal. This technology enables registration of clinical trial information by life sciences companies on government-mandated registries by means of workflow-enabled functionality that facilitates easy content management and re-use.
Deloitte Managed Analytics (led by Richard Cohen, principal, Deloitte Consulting LLP) will receive the PharmaCM product as a service offering.
In the drug safety market, the pooled capabilities of both companies cover a wide array of technology and business solutions that emphasize on the facilitation of analytics and enhanced signal intelligence through the design, planning, and execution of remote data capture tools, adverse event management applications, drug safety data warehouses, and assembly of periodic reporting for regulatory agencies.
As a result, this new business will tap into Deloitte’s enterprise risk, security and regulatory compliance services, and additional business advisory services.
Dan Ressler, principal, Deloitte Consulting LLP, will spearhead Deloitte’s new drug safety and regulatory consulting business in conjunction with his overall role of leading research and development informatics in life sciences. He said, “We are excited about this important and strategic investment. The growing impact of health information technology and social media, greater complexity of therapeutic offerings in the marketplace, and an increasingly complex and stringent regulatory environment, in particular, have created an impetus for more proactive product safety and regulatory support services.” Ressler added, “The addition of Intrasphere’s capabilities to the Deloitte portfolio of life sciences consulting services enhances our position in drug safety and regulatory consulting and expands the foundation on which we will continue to lead this market. Intrasphere brings deep proficiencies in drug safety, pharmacovigilance and regulatory capabilities to complement our existing life sciences and research and development practice enabling us to expand our ability to create market-leading strategic solutions for our clients.”
The business deal is believed to be immensely beneficial to the present client base of Intrasphere. The life sciences consulting practice of Deloitte presents a wide spectrum of services ranging from strategy to execution across the life sciences value chain and global reach through the member firms of Deloitte Touche Tohmatsu Limited.
Bill Karl, co-founder and former chief executive officer of Intrasphere, said: “Deloitte’s broad-based relationships in life sciences give us access to clients where we don’t have a presence today. Moreover, our staff and leadership now have the opportunity to gain exposure to a variety of resources and opportunities as part of Deloitte.” Karl has recently been appointed as Director of Deloitte Consulting LLP.