OpenQ, a leader in helping life science companies efficiently and compliantly engage medical networks, has announced completion of a $5.5 Million Series B financing round. New investor, Harbert Venture Partners led the round with participation from existing investor, Grotech Ventures. The proceeds will be used to further accelerate development and global expansion of OpenQ solutions which have been adopted by eight of the top ten pharmaceutical companies and three of the top five medical device companies.
“The pharmaceutical, medical device, and biotech sectors are under incredible pressure to change the way they develop and market their products in recognition of a new compliance reality.” said Jim Zuffoletti, CEO of OpenQ. He added,“Our platform provides comprehensive physician data, with applications embedded seamlessly in critical life sciences business processes to make this data highly actionable. Every day, thousands of doctors and life science professionals use our platform to collaborate and gain insights with the ultimate goal of compliant scientific exchange.”
“The future of the life sciences go-to-market model is the network – identifying the right people and enabling effective and compliant exchanges with them,” according to Brian Carney from Harbert. He added,“We believe that rapid customer adoption and satisfaction with OpenQ’s solutions, as well as the growing pipeline of opportunities speaks volumes about the size of this market opportunity.”
Otavio Freire, the Company’s CTO, noted,“This marks the start of an exciting new chapter for OpenQ – one that will see us continuing to pioneer innovative, new solutions to leverage the power of medical networks, mobile technologies, and Big Data to address unmet market needs.”
Based in Charlottesville, Virginia, OpenQ (OpenQ.com) helps life science companies harness the power of medical networks to reach healthcare providers (HCPs) compliantly and efficiently. OpenQ’s solutions combine Big Data with expert validation and software applications to deliver actionable information that mitigates compliance risks, while leveraging the latest cloud-based and mobile applications to improve compliant medical network access, collaboration and management. The Company offers award-winning solutions for KOL Management, Medical Affairs Programs, Study Management & Grant Funding, and Speaker Programs.