THREAD Acquires Modus Outcomes to Create Breakthrough Approach for Accelerated Decentralized Clinical Trials
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:
- deep expertise in qualitative research, advanced psychometric analysis and biostatistics
- consulting capabilities specializing in patient-centered outcomes strategies, including instrument design/selection and regulatory support
- leading outcomes researchers and company partners, Dr. Patrick Marquis, CEO, Dr. Stefan Cano, chief scientific officer, and Dr. Antoine Regnault, global lead, Statistics
- a team of 40 experts holding an array of certifications and specializations with more than 75% possessing doctorate and advanced degrees
- offices in London and Lyon, France, expanding THREAD’s worldwide presence to six global offices
Quotes
- John Reites, THREAD CEO
“With more sophisticated scientific designs, larger global scale and a greater focus on highly targeted patient subpopulations, the biopharmaceutical industry is increasingly shifting to DCT’s. Combining Modus’ industry-leading scientific and eCOA expertise with our technology platform enhances our solutions and advances our mission of providing customers with one comprehensive platform, delivering five times more inclusive research and enabling 30% more efficient DCTs.”
- Mark A. Goldberg, M.D., THREAD executive chairman
“The need for creative and more targeted endpoint strategies has never been more important. Our new offering positions THREAD as a leader in the exciting combination of patient-centric endpoint assessments and DCTs.”
- Patrick Marquis, M.D., Modus Outcomes CEO
“The shared values, approach and need for humanistic input to DCTs make this milestone acquisition a win for the industry. We are thrilled to join the THREAD team and work closely with customers and partners to achieve patient-centric outcomes.”
- Stefan Cano, Ph.D., Modus Outcomes CSO
“Joining THREAD will take Modus Outcomes’ concept-driven measurement approach to new heights, maximizing the metrological potential of mixed methods psychometric research to enhance, support, and capitalize on the implementation of THREAD’s state-of-the-art technology in pivotal clinical trials.”
- Nitish Mittal, Everest Group Partner
“The disruption to the life science industry continues to be driven by the convergence of tech and science. THREAD’s acquisition of Modus brings together expertise to deliver new value-added products and services to biopharmaceuticals and CROs. We see this driving further growth and adoption of DCTs in a world of hybrid clinical trials.”
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.
About THREAD
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.
Media Contact:
THREAD Research
Kristin Schaeffer
CG Life
kschaeffer@cglife.com
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