BOSTON--(BUSINESS WIRE)--Adams Clinical, LLC (“Adams”, or the “Company”), a leading Neuroscience-focused clinical trial site network announced today that it has agreed on terms of the intent to partner with InSite Clinical Research (“InSite”), a clinical trial site in the Dallas-Fort Worth metroplex with expertise in inpatient and outpatient clinical trials for psychiatric and neurologic illnesses, including Schizophrenia.
In parallel with this partnership, Adams Clinical is expanding inpatient capabilities to its existing Watertown, MA and Bronx, NY sites. The Company expects both locations to begin screening inpatient participants in the first half of 2025, augmenting Adams’ market-leading capabilities in outpatient Psychiatry and Alzheimer’s Disease treatment and prevention trials.
“InSite adds an important dimension to our business as it expands Adam’s disease area expertise and marks the Company’s entry into Texas,” said Nelson Rutrick, CEO of Adams Clinical. “Historically, Adams Clinical focused only on Depression, outpatient Psychiatry, and Alzheimer’s Disease. Dr. Shiwach and the entire InSite team are widely regarded by pharmaceutical and biotech industry sponsors as a leader in acute Schizophrenia, Bipolar Disorder and Substance Use Disorder research. Dr. Shiwach and InSite are well-known for their contributions in many successful clinical trials that have led to new drug approvals over the last 20 years.”
Mehran Ahmed, Partner at InTandem Capital Partners, added, “InSite has developed a strong track record in finding participants in this growing therapeutic area and we are excited to partner with InSite to further enhance their capabilities.”
“I am delighted to join the Adams Clinical network and bring opportunities for additional clinical trials to the diverse psychiatric and neurological patient population that we serve here in Texas,” said Dr. Raj Shiwach, Principal Investigator at InSite. “I look forward to sharing my clinical expertise to replicate our successful inpatient Schizophrenia trial delivery model in the Massachusetts and New York locations.”
Dr. Steve Brannan, an industry veteran in Schizophrenia drug development who most recently led the clinical development and successful FDA submission of Cobenfy (xanomeline & trospium chloride, formerly known as KarXT) as Chief Medical Officer of Karuna Therapeutics, said, “Dr. Shiwach made a substantial enrollment contribution in our Phase 2 and 3 KarXT trials. There continues to be an enormous unmet need for effective new therapies for people living with Schizophrenia and other psychiatric illnesses. The many promising new treatments in development across industry will necessitate an increase in clinical research sites capable of conducting high-quality inpatient and outpatient Psychiatry trials for the foreseeable future. The acquisition of InSite and the establishment of inpatient units at the existing Boston and New York City locations underscores Adams Clinical’s strategic alignment with the needs and priorities of their pharmaceutical and biotech sponsor customers.”
The partnership with InSite follows a series of strategic expansion steps Adams Clinical has undertaken in 2024, including doubling existing site capacity with the opening of new site locations in New York City with Davis Clinical in the Bronx and Berman Clinical in Harlem.
Provident Healthcare Partners served as the exclusive financial advisor to InSite Clinical in this transaction.
About Adams Clinical
Adams Clinical is the preeminent site network for enrollment speed and data quality in clinical trials for diseases of the central nervous system, with clinical trial sites embedded in vibrant, diverse communities throughout the US. The Company’s depth of expertise, best-in-class technologies, and market-leading recruitment and retention to accelerate high-quality evidence generation and time-to-data for Pharmaceutical and Biotech companies, CROs and clinical trial participants.
About InTandem Capital Partners
InTandem Capital Partners is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value working collaboratively with its management team partners. InTandem is solely focused on investing in businesses that align closely with the Healthcare Quintuple Aim – the simultaneous pursuit of enhanced patient experience, elevated provider experience, improved clinical outcomes, greater healthcare equity, and lower cost of care delivery. The firm is comprised of former business executives and experienced investors, and is uniquely qualified to provide strategic, acquisition and operating expertise to help companies significantly increase their value and their contribution to an improved healthcare system. InTandem provides active support to the management of its portfolio companies directly and leverages its network of industry executives to augment its capabilities. For further information, please visit: www.intandemcapital.com.
Contacts
Amanda Paley, Chief Commercial Officer
Adams Clinical
press@adamsclinical.com
203.233.7702
Janice Rahm
InTandem Capital Partners
jrahm@intandemcapital.com
612.384.6979
