Malvern-based clinical trial SaaS (& services) firm Y Prime gets $5 million investment

Tom Paine

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Florida-based Ballast Point Ventures announced last week a $5 million investment in Malvern-based Y Prime, a provider of software products and professional services aimed at optimizing the management and performance of global clinical trials. Y Prime was founded in 2006 by Shawn Blackburn and Jaime Cook, who had prior experience at both Cephalon and Perceptive Informatics.

One aspect of Y Prime's technology platform is that it is designed to help customers conduct “adaptive trials,” a method of running clinical trials that allows for immediate changes to be made during a trial. This technology provides customers with a means of quickly reacting to potential changes in a study without incurring costly delays and change orders, Ballast Point said in its release.

Y Prime's software products include Interactive Response Technology (IRT), eMonitoring Visit Report (eMVR), Patient Reported Outcome (ePro), Clinical Trial Management Systems (CTMS), and Clinical Supply Forecasting and Logistics (eCSF). Y Prime refers to its cloud-based offerings as being a "Software With a Service" platform, emphasizing the service component it brings to the party. The company appears to have about 30 employees, according to a photo layout on its website (although its LinkedIn Page shows 39). A note on the Chester County Economic Development Council's website indicates that Y Prime had 2012 revenue of $5.5 million.