The company says the growth is tied to a shifting demand for full-service clinical research offerings from pharma and biotech clients that previously partnered with the company for a single service.
Patrick Flanagan, CEO of Veristat, told Outsourcing-Pharma.com that the company has “literally” outgrown its space, with headcount increasing 300% in the last two years. He also said the new space is strategically closer to the CRO’s clients.
“The bulk of our new deals are more strategic partnerships covering multiple services,” Flanagan added, noting two recent preferred provider agreements with Karyopharm and Molecular Templates, as well as “many others which have not been publicly announced as well as a number in the works.”
The shift comes as clients are moving away from engaging Veristat for single services to “more integrated full-service and strategic functional roles in addition to awarding us multiple programs in their development portfolio. We’ve responded to this shift by expanding our services and maturing a full-fledged Clinical Operations team,” he added.
The new space in Southborough, MA, will add to the company’s additional offices in Cambridge, MA, and Montreal, Canada. Veristat also says it has plans to expand its current operations in the San Francisco Bay Area with the opening of a new office.
“Historically, clients came to Veristat for our Data Management, Biostatistics, Medical Writing and Regulatory Submissions services. More and more clients now engage us to manage their entire trials, so we are getting involved earlier with program design, regulatory agency engagement, and study start-up activities,” Flanagan said. “We are managing entire studies with full clinical operations, biometrics, and regulatory submission support.”