TriNetX announced the acquisition of Custodix NV and its InSite network, a European-based provider of services for clinical trial design, patient feasibility, and enabling workflow for patient recruitment. The financial details of the transaction were not disclosed.
Custodix’s InSite network is active in 12 countries throughout Europe and complements the existing TriNetX European footprint. In addition to the US and Europe, TriNetX is powered by an impressive network of healthcare organizations (HCOs) globally, including Japan, Singapore, Malaysia, Philippines, India, Israel, and Brazil.
The acquisition comes following TriNetX’s recent Series D funding raised in part to support the company’s international expansion. The unity establishes the largest research network in Europe and presents existing InSite healthcare organizations with increased access to clinical trial opportunities. TriNetX’s customer base includes 29 industry partners, consisting of 11 of the largest pharmaceutical companies including Novartis, Sanofi and Pfizer, and top contract research organizations (CROs) including Syneos and ICON. TriNetX has been used to analyze over 13,000 protocols and has presented over 3,400 trial opportunities to its HCO members.
“This is a breathtaking unification of two extremely compatible research networks,” said Gadi Lachman, TriNetX CEO. “The two companies launched in separate geographies, but share a commitment to strong compliance, governance, and a global vision for clinical research. We now offer the world’s largest platform for clinical research, providing a more powerful resource for pharma companies and healthcare organizations, and more hope for patients in need. This expansion gives us additional local leadership, regional support, and increased resources in the European market.”
The Custodix addition quadruples the size of the current European TriNetX staff and establishes an EU headquarters as a resource base to launch further expansion in Europe and Asia. Custodix’s CEO Brecht Claerhout will become TriNetX’s Managing Director/Europe and the division—to be known as InSite, a TriNetX company—will drive the combined organization’s European strategy and execution going forward.
“This deal is exciting news for the healthcare organizations in our InSite network,” said Brecht Claerhout. “We share similar values to TriNetX, which will enable us to continue collaborating with the hospital community, service our customer base as we always have, and bring new clinical trial opportunities to researchers and their patients.”