GlobeNewswire

OmniComm Systems Signs Letter of Intent to Acquire Certain Assets of Algorithm and its Subsidiary Algorics

Del

Acquisition Will Expand OmniComm's Product Line With Data Analytics and Risk-Based Monitoring Solutions

FORT LAUDERDALE, Fla., Nov. 21, 2017 (GLOBE NEWSWIRE) -- OmniComm Systems, Inc. (OTCQX:OMCM), a leading global provider of clinical data management technology, and  Algorithm, Inc. and its subsidiaries Algorics Ltd. and Algorithm Informatics Pvt. Ltd. (collectively, "Algorics"), have signed a letter of intent ("LOI"), under which OmniComm will acquire certain assets and assume certain liabilities of Algorics, a provider of clinical analytics solutions and software. By combining forces, the companies expect increased operating efficiency, strengthened traction in the maturing risk-based approach solution area, new marketing opportunities and an expanded portfolio of electronic data capture (EDC) solutions for the global clinical trials industry. The transaction would also provide OmniComm with an office in India, a country of growing importance in the clinical trials market.

The proposed acquisition will cement the existing collaboration between the companies and provide OmniComm with access to advanced data analytics capabilities and specialized algorithms, including artificial intelligence/machine learning, developed by Algorics.

"We've been partnering with OmniComm for the last two and a half years. The companies are a very good fit culturally, with a high compatibility of technologies and shared vision for clinical trials innovation," said Nithiya Ananthakrishnan, CEO and founder of Algorics. "Algorics has developed algorithms and software to address the increasing demands from global regulatory bodies for reduced regulatory risk, improved quality and compliance with real-time insight. Joining OmniComm will accelerate our goal of becoming the best-in-class solution for risk-based monitoring and clinical data analytics. We look forward to bringing additional competitive advantages to OmniComm's customers by delivering end-to-end RBM solutions and specialized data analytics expertise."

With two decades of operating experience, OmniComm will provide the Algorics team with an established and expanding marketplace. The acquisition will enable OmniComm to diversify and increase its product line. Additional benefits include:

  • Enhanced real-time and cross-study reporting capabilities for OmniComm's TrialMaster® and TrialOne® product lines.
  • AI/Machine-learning capabilities for remote monitoring of research sites.
  • End-to-end risk management framework in compliance with the recent ICH GCP E6 Addendum.
  • Expanded regional customer support in the Asia-Pacific market.
  • An office in India, which has become increasingly important for research and development initiatives in the pharmaceutical market.

"This acquisition fills a strong need for our customer base in the area of data aggregation and analytics, cross-study reporting and risk-based monitoring support," said Stephen Johnson, president and CEO of OmniComm. "The Acuity platform from Algorics perfectly complements and integrates with our TrialMaster EDC platform to improve clinical trials data quality, enhance our current risk-based monitoring capabilities and enable our clients to make better, real-time decisions throughout their clinical research."

OmniComm and Algorics both use the Microsoft Technology Stack, so the integration with TrialMaster and TrialOne is seamless, Mr. Johnson added.

No finder's fees are payable as a result of the proposed acquisition. Completion of the proposed acquisition is subject to a number of conditions including, but not limited to completion of satisfactory due diligence during a ninety (90) day due diligence period, the negotiation and execution of a definitive asset purchase agreement and approval of the Board of Directors of OmniComm. There can be no assurance that the transaction will be completed as proposed. The proposed acquisition is expected to close by the first quarter of 2018.

About Algorics
Algorics brings together a team of highly experienced software and life science professionals, united behind a single goal: to provide innovative risk-based monitoring and clinical analytics solutions and software to the global life sciences industry with consistent and reliable quality. Please visit www.algorics.com for more information.

About OmniComm Systems, Inc.
OmniComm Systems, Inc. is a leading strategic software solutions provider to the life sciences industry. OmniComm is dedicated to helping the world's pharmaceutical, biotechnology, contract research organizations (CROs), diagnostic and device firms, and academic medical centers maximize the value of their clinical research investments. Through the use of innovative and progressive technologies, these organizations drive efficiency in clinical development, better manage risks, ensure regulatory compliance and manage their clinical operations performance. OmniComm provides comprehensive solutions for clinical research with an extensive global experience from more than 5,000 clinical trials. Please visit www.omnicomm.com for more information.

Trademarks
OmniComm, TrialMaster, TrialOne and Promasys are registered trademarks of OmniComm Systems, Inc. Other names may be trademarks of their respective owners.

Forward Looking Statements 
This document contains forward-looking statements that involve risks, uncertainties and assumptions. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, the results of OMCM and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of any financial items; any statements of the plans, strategies, and objectives of management for future operations, including the execution of integration and restructuring plans and the anticipated timing of closing relating to the planned acquisition; any statements concerning proposed new products, services, developments or industry rankings; any statements regarding future economic conditions or performance; any statements of belief and any statements of assumptions underlying any of the foregoing.

The risks, uncertainties and assumptions referred to above include the ability of OMCM to retain and motivate key employees; the timely development, production and acceptance of products and services and their feature sets; the difficulty of keeping expense growth at modest levels while increasing revenues; the challenges of integration and restructuring associated with the acquisition and the challenges of achieving anticipated synergies; the possibility that the planned acquisitions may not close and the other risks and uncertainties detailed in Part I, Item 1A. "Risk Factors," in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 and in the Company's other filings made from time to time with the SEC (copies of which may be obtained through the Investor Relations portion of the Company's website under "SEC Filings").

The Company assumes no obligation to and does not intend to update these forward-looking statements.

Contact Info
Investor Relations
OmniComm Systems, Inc.
+1.954.473.1254
INVREL@omnicomm.com

Nithiya Ananthakrishnan
Algorics 
+91.997.279.9442
Nithiya@algorics.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: OmniComm Systems Inc. via Globenewswire

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

Compuware Announces Day One Support for IBM CICS Transaction Server for z/OS V5.514.12.2018 18:02Pressemelding

DETROIT, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Compuware Corporation, the world’s leading mainframe-dedicated software company, is pleased to announce Day One support for IBM CICS Transaction Server (TS) for z/OS V5.5. Compuware worked in collaboration with IBM to ensure that its solutions—including Abend-AID, File-AID, Strobe, Topaz and Xpediter—work seamlessly for z/OS customers installing or upgrading to this newest version of CICS TS. New capabilities within CICS TS V5.5 include support for JavaScript Node.js applications; an enhanced CICS Explorer; as well as advancements in systems management and enhanced security. “Compuware has an extensive history of ensuring our products work seamlessly with IBM releases and the release of CICS Transaction Server V5.5 is no exception,” said Sam Knutson, Vice President of Product Management for Compuware. “Our solutions excel at helping enterprises include the mainframe in their cross-platform Agile DevOps practices and processes so they can succe

SoftServe Achieves Machine Learning Specialization in Google Cloud Partner Program14.12.2018 13:00Pressemelding

Google Cloud recognizes SoftServe’s technical proficiency and proven success AUSTIN, Texas, Dec. 14, 2018 (GLOBE NEWSWIRE) -- SoftServe, a leading digital authority and consulting company, announces it achieved the Machine Learning Partner Specialization in the Google Cloud Premier Partner Program. The Partner Specialization affirms SoftServe’s expertise and success building customer solutions in the machine learning field using Google Cloud Platform (GCP) technology. The Google Cloud Partner Specialization Program is designed to provide Google Cloud customers with qualified partners that demonstrate technical proficiency in the specialized solution and service areas. Specifically, the Machine Learning Specialization demonstrates SoftServe’s expertise in data exploration, preprocessing, model training, model evaluation, model deployment, online prediction, and Google Cloud’s pre-trained machine learning APIs. “We teach machines to learn, read, see and understand business data, and make

Minerals Technologies Announces Price Increases for Specialty Minerals Products in Europe14.12.2018 00:01Pressemelding

NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Specialty Minerals Inc. (“SMI”), a subsidiary of Minerals Technologies Inc., announced today that effective February 1, 2019, it will increase prices by up to 10% for all coated ultrafine precipitated calcium carbonate (PCC) from SMI’s Lifford Specialty PCC facility in Birmingham, UK, subject to individual customer contracts and market provisions. The price increases reflect increased market demand for higher performance materials, as well as significant inflation in input, raw material and logistics costs. About Minerals Technologies Inc. New York-based Minerals Technologies Inc. (MTI) is a resource- and technology-based growth company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The Company reported sales of $1.

Synthesio to Bring Proven Ipsos Data Science to Artificial Intelligence13.12.2018 17:03Pressemelding

Synthesio's Next-Generation Social Media Intelligence to Raise Unseen Insights to the Surface, Faster NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Synthesio, an Ipsos company, and also the leading Social Media Intelligence Suite, today announced the plans for its next-generation Artificial Intelligence (AI) engine. The project will combine Synthesio’s AI technology with Ipsos’ data science. The combination will power upcoming Synthesio capabilities to help users find insights faster, remove guesswork, and make informed business decisions across a variety of use cases. “Our goal has always been to provide customers with meaningful data, visualized so that they can make strategic business decisions,” explained Loic Moisand, CEO & Founder of Synthesio. “The less guesswork that a company has to make, and the less time that it takes users to find meaningful insights, the more time for data-backed business decisions. We are really pleased that we can leverage the data science capabilities dev

XBiotech Announces Publication of Post-Hoc Analysis for Phase III Colorectal Cancer Study13.12.2018 14:00Pressemelding

Biomarkers Predict Significantly Higher Rates of Treatment Response to Bermekimab in Advanced Cancer Patients AUSTIN, Texas, Dec. 13, 2018 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) announced today the publication of findings on key biomarker analysis of colorectal cancer patients treated with bermekimab in its European Phase III study. The manuscript, entitled, “Interleukin-1 Receptor Antagonist (IL-1ra) Levels Predict Favorable Outcome after Bermekimab, a First-in-Class True Human Interleukin-1α Antibody, in a Phase III Randomized Study of Advanced Colorectal Cancer”, has been published online in the journal OncoImmunology. The findings report that patients with relatively low levels of IL-1ra or IL-6 were more likely to respond to bermekimab therapy and achieve the study’s primary endpoint. The study’s primary endpoint measured a combination of physical symptoms—pain, fatigue, anorexia and muscle wasting—which tend to worsen with advanced cancer, to assess whether these sympto

FROM CUTE TO CONFIDENT: MARY KAY INC. TALKS PINK AT THE MUSEUM AT FIT13.12.2018 14:00Pressemelding

Mary Kay Inc. and The Museum at The Fashion Institute of Technology Partner for a Pink-Centric Panel Discussion in Conjunction with Special Exhibition ‘Pink: The History of a Punk, Pretty, Powerful Color’ NEW YORK, N.Y., Dec. 13, 2018 (GLOBE NEWSWIRE) -- From pink makeup compacts to the iconic pink Cadillac, global beauty brand Mary Kay has been synonymous with the color pink for more than five decades. On December 13, 2018, Mary Kay will partner with The Museum at FIT (MFIT) to host a scholarly panel discussion, ‘Powerful Pink: From Cute to Confident,’ at the Katie Murphy Amphitheatre on the New York City FIT campus. Panelists include Luis Casco, Mary Kay Global Beauty Ambassador and celebrity makeup artist; Kate Greene, Vice President of Communications and Creative Direction at Givaudan and Karen Young, FIT adjunct professor and founder of The Young Group. The panel discussion will be moderated by Sheryl Adkins-Green, Chief Marketing Officer for Mary Kay Inc. The scholarly panel disc