Phase Forward Acquires Part Of Covance’s Business

Phase Forward has acquired Interactive Voice and Web Response Services (IVRS/IWRS) business of Covance. The company purchased the Covance business unit for $10m in cash.

Reportedly, as part of the transaction, Phase Forward and Covance have entered into a multi-year marketing agreement to provide Phase Forward’s InForm electronic data capture (EDC) solution and Clarix Interactive Response Technology (IRT) application as the preferred EDC and IRT solutions to Covance clients.

Originally announced on July 15, 2009, the acquisition strengthens the relationship between Phase Forward and Covance.

Phase Forward is a provider of integrated data management solutions for clinical trials and drug safety.

Headquarters in Princeton, New Jersey, Covance offers drug development solutions from preclinical through commercialization.