Technology firm, Take Solutions, is focussing on having a market presence in North America in terms of full service clinical research organisation (CRO), said a top official.
“Our focus on merger and acquisitions is in North America and our quest is to fulfill that ambition in the current fiscal,” said Ram Yeleswarapu, President and CEO, TAKE Solutions.
“We have been investing in a fair amount of diligence, stepped up our efforts, good conversations are going on across the board now and we are confident that our strategies will be materialised in fiscal 2019,” Mr. Yeleswarapu said.
According to him, the company had a healthy cash balance and a strong pipeline of key prospects to complete its expansion in key markets including North America and Europe.
Besides, the technology enabled business solutions company, is also interested in entering Japanese and Chinese markets. In Japan, it would be done through joint venture partnership.
Recently, the company's vice chairman Srinivasan H.R. told The Hindu that they were exploring acquisitions in North America and Europe and were in talks with half-a-dozen firms in the clinical and regulatory spaces to strengthen its global footprint.
Back-end integration
“Our vision is to drive services on top of technology platforms or platform enabled services. Technology should flow seamlessly, we do not want to be the maintenance company like a legacy organisation. Our interest is in back-end integration and aggregation engine that will draw in data by being source system agnostic, format system agnostic in real-time environment,” Mr. Yeleswarapu said.
Speaking about the OneClinical, the firm's optimised clinical trial services platform, he said it gave the sponsors the benefit of a short set-up time with low fixed costs, global accessibility and near real-time data analytics and visualizations.
Developed and engineered in India with design and architectural ideas from US and Europe, OneClinical is in production and number of studies are running on it. It has been received very good response. “We have embedded a lot of forward looking technologies such as Artificial Intelligence, Machine Learning techniques into the platforms. We believe more value needs to be added to predictive models,” he said.
Currently, OneClinical covers the Clinical vertical. Same concept is being replicated in the other two verticals – Regulatory and Safety. “We are working on this. It will be a single core platform with vertical solutions because the nuances for the three solutions are different,” he added.
Our vision is to run clinical trials for the future, essentially leveraging our platform OneClinical. We are extremely excited we have onboarded a bunch of studies in the Asian and European regions. Over a period of time, we envision all our studies to be running on this platform which facilitates near real time decision making.
“We are looking at block chain technology more from the context of running clinical trials in a secured way. Data provenance can be established, what is entered is what I got. The entire fingerprinting cannot be tampered. So, data provenance is key and we believe block chain has the intrinsic characteristic and hence leveraging for running clinical trials will be appropriate,” he said.
During the second quarter ended September 2018, Take Solution recorded revenue of Rs.515.87 crore, a growth of 39.08%. “Our 2021 growth strategy is on track and we are seeing a consistent growth trajectory, and hopeful of meeting a revenue of $500 million,” he said.
