IRVING, Texas, May 1, 2019 — Caris Life Sciences® has acquired Pharmatech, Inc. As a leading innovator in molecular science, Caris practices precision medicine by individualizing cancer treatments, leading the way to a better molecular understanding of cancer. The acquisition promises to fundamentally redefine how pharmaceutical and biotechnology companies identify and rapidly enroll patients in precision oncology trials by combining Caris’ industry-leading large-scale molecular profiling services with Pharmatech’s on-demand site activation and patient enrollment system. In addition to accelerating study recruitment, this complementary pairing will expand the enrollment opportunities for industry-leading clinical trials beyond the handful of academic medical centers that are typically tapped. With Pharmatech’s research-ready oncology network, Caris can now connect physicians and patients at hundreds of cancer research centers nationwide.
According to Caris’ Chief Medical Officer W. Michael Korn, M.D., “Unfortunately, access to clinical trials for [cancer] therapies is not broadly available, and we are seeing low participation rates among cancer patients primarily due to lack of access to and awareness of both broad molecular profiling and open clinical trials. This precludes patients from benefiting from cutting-edge treatment opportunities and hampers efficient and expeditious drug development,” said Korn. “Caris’ acquisition of Pharmatech will change this, helping to ensure that patients with rare mutations and other biomarkers can readily be identified and connected with emerging therapies that can positively impact their lives.”
“This acquisition allows Caris to facilitate interactions between drug developers who are seeking patients with specific cancer profiles and physicians who are seeking new treatment options for their patients,” said Caris’ Chairman and CEO David D. Halbert. “In addition, we have developed a new technology that allows us to identify twice as many fusions as with any other technology, assuring that every patient that is a candidate for a trial gets enrolled.”
“Every cancer patient should receive the best treatments available, including appropriate clinical trials,” said Matthew Wiener, PharmD, President and Founder of Pharmatech. “Together, Caris and Pharmatech are uniquely positioned to make clinical trial enrollment much more efficient and patient-centric. This acquisition brings a more integrated service offering to the industry that will significantly improve patient care by quickly identifying patients who can benefit from clinical trials.”
“We are proud to have helped enable something so monumental to patient care. Sometimes, it is only by acquisitions like this where the synergies necessary to drive an entire industry forward are possible. Facilitating such a valuable connection between the two companies, which ultimately connects patients with the solutions they need, has been very rewarding,” said Harbor Healthcare President, Ira Cammeyer.
Pharmatech is dedicated to facilitating better patient outcomes by improving the clinical trial process. With significant experience in Phase I, II, and III trials, Pharmatech works to enhance cost effectiveness and efficiency by eliminating non-enrolling sites and using previously screened patients for biomarker trials. Pharmatech is a patient-centered organization, working to create and support easy access to clinical trials. The organization has demonstrated a 30 to 200 percent higher success rate compared to traditional enrollment methods, all while helping to mitigate risks.
About Caris Life Sciences
Caris Life Sciences is a leading innovator in molecular science, dedicated to upholding quality and innovation in precision medicine. The company’s suite of molecular profiling offerings assess DNA, RNA, and proteins to uncover molecular architecture in a way that grants physicians and cancer patients more accurate and personalized treatment plans. Caris’ Next Generation Profiling™ represents another avenue by which the company seeks to enhance precision medicine. Next Generation Profiling combines Caris Molecular Intelligence® and ADAPT Biotargeting System™ with DEAN™, its proprietary artificial intelligence analytics engine, for analysis of the whole exome, whole transcriptome, and complete cancer proteome. Caris Life Sciences is headquartered in Irving, Texas. They offer services throughout the U.S., Europe, Asia, and other international markets. Visit http://www.CarisLifeSciences.com for more information.
About Harbor Healthcare
Harbor Healthcare is a boutique investment bank offering a variety of Merger and Acquisition advisory services to healthcare and pharmacy businesses since 1995. Since being founded, the company has advised more than 100 clients across the North American continent. The company offers unparalleled regulatory expertise, technology knowledge and claims some of the longest and strongest business relationships with private and public acquirers.
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SOURCES: Caris Life Sciences, Pharmatech, Inc., and Harbor Healthcare Consultants