Posted under Venture Capital
from http://www.pehub.com 554 days ago

Edison Ventures has sold Octagon Research Solutions to Accenture. Based in Wayne, PA Octagon’s regulatory and clinical solutions support drug development at over 200 life sciences companies.

PRESS RELEASE

Edison Ventures today announces that Accenture acquired Octagon Research Solutions based in Wayne, PA. Octagon regulatory and clinical solutions support drug development at over 200 life sciences companies.

John Martinson, Octagon Director and Edison’s Managing Partner observed “Founders and management pioneered and optimized electronic FDA submission.” Michael Balmuth, Octagon Director and Edison General Partner, oversaw the sale process together with company management. “Octagon was an attractive acquisition candidate due to strong management, substantial backlog, repeat sales of multiple products, global clients, domain expertise, #1 market share and solid profitability.”

Jim Walker, Octagon CEO commented, “Edison Ventures contributed strategic guidance, valued added services, and pharma outsourcing best practices.” Jo Webber, former InnaPhase CEO, served as Edison Director Network Board member ...

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