TriNetX bolsters clinical research network with Custodix buy, quadruples European staff
The global health research network TriNetX today announced its acquisition of Belgium-based Custodix NV and its InSite network, which operate in 12 countries throughout Europe.
Custodix NV provides clinical trial design, patient feasibility and recruitment services. The company’s InSite platform was developed as part of the Innovative Medicines Initiative (IMI) research program in collaboration with the pharmaceutical industry through the EHR4CR project.
As per the acquisition – financial details of which were not disclosed – Custodix becomes a division ofTriNetX and will under the name InSite, aTriNetX company. The deal quadruples the size of TriNetX's current European staff and establishes an EU headquarters in Belgium.
Additionally, Custodix CEO Brecht Claerhout will now serve as senior vice president and managing director of InSite and Europe.
“Our industry partners are conducting research on a global scale and looking to collaborate with non-US hospitals. Given TriNetX’s momentum, we felt the fastest way to create a ‘one-stop shop’ for clinical data, was to unite with the leading European research network, InSite,” said TriNetX SVP of Corporate Development Maulik Mehta.
“This lead to our acquisition of Custodix NV,” he told us. “For Custodix, they wanted to be able to offer their hospital community more clinical trials and together we look forward to rolling out new functionality across the networks.”
As for how the companies will be integrated, Mehta said the vision is to create “one experience” for its customers.
“We are working quickly to integrate the two networks on to a single self-service platform. In the short term, InSite’s hospital community can expect more clinical trials and in the medium term, access to more functionality,” he explained. “Throughout this, InSite remains the local European research network and the values, company contacts and offerings remain unchanged.”
TriNetX last month closed a Series D financing round, bringing total funding to $102m as the network continues to expand globally. The company’s customer base currently includes 29 industry partners, including Novartis, Sanofi and Pfizer, and the contract research organizations (CROs) Syneos and Icon.
