Adrenaline and BioMedical Sciences Group Launch Due Diligence Service for Bioinformatics Ventures
Service Assesses Both Technology and Science of Emerging Initiatives
Washington, DC - July 16, 2001 - The Adrenaline Group, a leading provider of high technology new product development and technology advisory services, and The BioMedical Sciences Group (BMSG), one of the largest biomedical investment consulting networks in the U.S., have joined forces to launch a new due diligence service for investors and biotechnology companies that provides independent analysis of both the technology and science of new bioinformatics initiatives. Bioinformatics is the art and science of using computational tools to find answers to biological questions.
This integrated due diligence offering is the first of its kind and is targeted, in particular, at investors, whether from the information technology (IT) or the life science camp, that are looking to take part in the rapidly growing bioinformatics and other bioscience-IT convergence areas.
"Bioinformatics is a rapidly developing field in this region. It has the potential to dramatically impact the rate of scientific discovery and move us closer to individualized medicine," said Hinrich Staecker, M.D., Ph.D., President of BMSG. "We have joined forces with The Adrenaline Group in order to further the development of bioinformatics by providing these companies and the investment community with our independent, mission critical technical due diligence expertise."
Biotech and life sciences researchers have grown increasingly dependent upon IT to accomplish their goals in areas such as data mining, knowledge management, collaboration and process management. In the past decade, both IT and the life sciences have developed into robust sectors each with its own language, knowledge base and technical expertise. As these two very distinct and technical worlds continue to merge, a new breed of due diligence is required to provide high-level expertise in both of these fields.
"Bioinformatics promises great opportunity and poses daunting challenges to the entrepreneur and investor hoping to capitalize on the exploding biotechnology market," said Greg DuPertuis, co-founder and President of The Adrenaline Group. "However, the road to commercial success requires more than just a great idea. These emerging companies must perform and compete on two fronts - life sciences and information technology. The combined Adrenaline/BMSG due diligence offering will provide investors unique insight into the viability of this new breed of company."
The Adrenaline/BMSG due diligence teams will deliver critical assessments and specific recommendations regarding an emerging bioinformatics product or service, in terms of the requirements necessary for commercial success. Under the new service, BMSG's biotech investigators will evaluate the scientific validity and impact of the emerging product or service, likelihood of market acceptance, and the regulatory and policy aspects of the technology. Adrenaline will confirm the soundness of the company's technology, development practices and organization.
According to The Biotechnology Industry Organization (BIO), the adoption of innovative IT by biotech companies can be a major catalyst for both the swift and precise discovery and development of life-saving drugs and therapies. IDC analysts forecast revenues for this bioscience IT market at $11.5 billion by 2004. The explosion of interest in biotechnology and bioinformatics generated record attendance at the recent BIO2001 conference held June 2001 in San Diego.
About The BioMedical Sciences Group (BMSG)
With over 300 contract consultants, The BioMedical Sciences Group (www.thebmsgroup.com) is one of the largest networks of scientists and physicians in the United States dedicated to advising on biomedical related technologies. BMSG's medical and life sciences consultants represent senior and associate level research scientists and practicing clinicians at leading medical universities, government research laboratories and more than 17 hospitals worldwide.
BMSG publishes biotechnology industry overviews, provides competitive intelligence services, and engages in custom reporting and consulting for medical and biotechnology investing across a broad range of levels. BMSG's consulting services include internal technology audits - including research pipelines evaluations, technical due diligence for investors and acquiring firms, international technology scouting and competitive intelligence consulting for large pharmaceutical companies. BMSG is headquartered in Baltimore, Maryland.
About The Adrenaline Group
The Adrenaline Group (www.adrenaline.com) is the leader in helping businesses build breakthrough, first-of-a-kind digital products and services that attract new customers and create competitive advantage. Adrenaline's New Product Development division assists clients at each step of the new product development process - through ideation and prototyping to feature design, usability testing, software development and launch. Adrenaline's technology expertise includes high performance Web applications and infrastructure, client-side and wireless applications, XML based systems, speech technologies, distributed computing and data management systems. Adrenaline's Technology Advisory Services division performs internal technology audits, technical business case preparation and technical due diligence for investors and acquiring firms.
Founded in 1997, Adrenaline has provided technology products and technology consulting services to over 70 corporate, venture backed, and early-stage clients including the National Association of Security Dealers, Discovery Communications, Parabon Computation, Network Solutions, and WashingtonPost.com. The company is headquartered in Washington, D.C.
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