The Company
Medidata Solutions develops and markets software as a service (SaaS) for clinical trials. These include protocol development, clinical site collaboration and management; randomization and trial supply management; capturing patient data through web forms, mobile health (mHealth) devices, laboratory reports, and imaging systems; quality monitor management; safety event capture; and monitoring and business analytics. Headquartered in New York City, Medidata has locations in China, Japan, Singapore, South Korea, the United Kingdom, and the United States. Medidata’s customers include pharmaceutical, biotechnology, medical device, and diagnostic companies; academic and government institutions; contract research organizations; and other life sciences organizations around the world that develop and bring medical therapies and products to market.
The Partnership
Medidata was introduced to Topmark via an attorney and a co-investor who are active in the New York City entrepreneurial ecosystem. At a time when tech companies were looking to build tools to streamline the clinical trials process, Medidata’s solution was built by founders who deeply understood the industry and had direct experience executing clinical trials. Additionally, major clinical trials sponsors had validated the technology. Topmark participated in Medidata’s first institutional equity round and provided additional growth capital through an affiliate fund.
Topmark invested in Medidata Solutions through a legacy fund and exited its investment following the company’s successful initial public offering in 2009. Medidata Solutions was subsequently acquired by Dassault Systèmes.