Leading provider of software and consultancy services to the clinical trials industry awarded Regional Selective Assistance (RSA) from Scottish Enterprise to create 20 jobs over the next two years.
Formedix, leader in clinical trial automation software and consultancy services, has been approved for a Regional Selective Assistance (RSA) grant by Scottish Enterprise. The money awarded to Formedix will be invested in staff and will directly result in the creation and safeguarding of jobs in Scotland and will also contribute to ensuring that Scotland’s economy remains globally competitive.
This year has already seen exciting times for Formedix which has its UK headquarters in Glasgow. The company works with some of the world’s largest Pharmaceutical, Biopharmaceutical and Medical Device companies, as well as Contract Research Organizations (CROs) to deliver time and cost savings in the design and build of their clinical trials.
Product development has continued to ramp up following the launch last summer of Origin Enterprise, the Formedix online edition of the study design tool, Origin Study Modeller. Additions to the Formedix Transform portfolio of software tools have also been thriving with many more in the pipeline for the next two quarters. This set of integrators to the company’s Origin suite of tools further strengthens the position of Formedix as a provider of universal solutions and choice, remaining vendor neutral to allow users to design and build their clinical trials within one tool and output across multiple platforms, reducing the restrictions imposed by being tied to one solution for electronic data capture (EDC).
Formedix CEO, Mark Wheeldon, explains “We have been working closely with Scottish Enterprise since Formedix was founded in 2000, benefitting from its support and experience within Scotland where we have our UK office.
This RSA grant comes at a really significant time and will support the substantial growth we are already experiencing, ensuring that we continue to expand our workforce for the next two years to feed product development and further develop awareness of the Formedix brand.”
The substantial sum of £200,000 will allow the Glasgow city centre-based company to continue to capitalize on its recent growth. The company has planned to create 20 new jobs over the next two years and as it reaches certain cost milestones, the grant funding will be made available to assist the expansion.
Lena Wilson, chief executive of Scottish Enterprise, which is working closely with Formedix in Scotland, said:
“It’s the innovation and ambition Formedix shows that makes it exactly the kind of company we want to support in Scotland. Despite the challenges posed by a difficult economic climate, the company is striving to grow and has a clear strategy for doing so.
“Both inward investors and home grown enterprises could take Formedix as an example of how to invest in growth. It’s that kind of attitude that will bring real economic prosperity to Scotland.”
Formedix also unveiled a rebrand earlier this year with a new look and feel. The new contemporary design, developed in collaboration with Edinburgh based creative agency, Resolve, continues to communicate the wealth of experience, knowledge and expertise which Formedix customers and peers have always recognised them for.