Greenphire Supports Proposed EU Legislation to Reduce Clinical Trial Administration

King of Prussia, PA (25 Jul 2012) – The European Commission recently announced proposals to address increasing administrative costs and a decline in the number of cross-border clinical trials conducted in the European Union. The proposed legislation, expected to be enacted by 2016, aims to speed up authorization and reporting procedures while ensuring patient safety and data quality. Greenphire, the global leader in clinical payment technologies, today affirmed its support of the new regulation and its focus on alleviating the administrative burden of trials taking place across multiple geographies. Greenphire is committed to reducing administration associated with clinical payment processes through innovative platforms such as its eClinicalGPS technology.

The European Commission reports that the number of clinical trials carried out in the European Union between 2007 and 2011 has dropped by 25 per cent, with applications down from over 5,000 in 2007 to 3,800 in 2011, while administrative costs have doubled. This trend has been attributed to the 2001 Clinical Trials Directive, which imposed tighter controls on monitoring and reporting drug trials. Currently, companies or researchers seeking to conduct clinical trials in more than one EU country must submit separate applications and reports in each country. Under the proposed new system, applicants will only have to submit this information once. The new regulation streamlines this process in order to make pan-Europe an attractive place to conduct trials. According to John Dalli, European Commissioner for Health and Consumer Policy, the new legislation could save over 800 million euros per year in regulatory costs.

John Blakeley, Chief Commercial Officer of Greenphire, voiced his support of the proposed regulation, saying: “Greenphire welcomes new measures to facilitate the implementation of cross-border clinical trials and ease administrative burdens. In addition to achieving its main goal, this legislation will also benefit research in areas such as rare diseases where there may be only a few subjects in each country, and which may otherwise face bureaucratic obstacles."

Blakeley continued, "Greenphire currently helps trial sponsors to implement studies across multiple geographies through our global web-based clinical payment management platform, the eClinicalGPS. In contrast to  more expensive and time consuming manual paper-based payment processes currently used in clinical research, Greenphire's automated electronic system enables sponsors and CROs to automatically distribute payments in over 200 currencies to all investigators, sites and vendors globally.”

To arrange an interview with John Blakeley, please contact the Greenphire team at The Scott Partnership by emailing greenphire@scottpr.com or calling +44 1477 539539.

For further information on Greenphire and its innovative solutions please email: mailto:sales@greenphire.com, call +1 215.948.9251or visit www.greenphire.com.

About Greenphire:

Greenphire is a clinical technology company, headquartered in suburban Philadelphia, which offers web-based clinical payment technology platforms for use by research sites, research universities, sponsors and CROs. Greenphire's clinical payment technologies are designed to automate calculation workflows, approval workflows and execute payments to patients, research sites and clinical vendors on a global basis, in local currency, through a single web portal platform.  Greenphire's technologies are designed to streamline operations, reduce administration, reduce costs and provide analytics and other business intelligence that has not been readily available in the past.

Greenphire's global patient payment technology also incorporates automated electronic messaging functionality that, when combined with payment functionality, effectively improves the clinical experience for patients and sites, drives positive patient behavior to increase patient retention and protocol compliance, and significantly reduces site and study team administration. Learn more about Greenphire’s innovative clinical payment solutions at www.greenphire.com.

Greenphire Signs Enterprise Agreement with Top 20 Biopharmaceutical Company

KING of PRUSSIA, PA (June 25, 2012) – Greenphire, the leading provider of clinical payment technology and service solutions to Biopharmaceutical and medical device companies, today announced it has signed a 5-year enterprise agreement with a top 20 Biopharmaceutical Sponsor for its eClinicalGPS solution.

The eClinicalGPS solution will allow the Sponsor to fully automate the calculation, approval and execution of payments to clinical research sites in over 200 countries in local currency.  The solution will be deployed across all new and existing studies.  Beyond the immediate need to more effectively manage the payment process, improve efficiency, reduce costs and provide a single source for clinical financial analytics, the solution also provides the platform on which to aggregate all site payment in preparation for the compliance requirements of the Sunshine Act and related international transparency regulation.

Greenphire Co-founder and Chief Executive Officer Sam Whitaker, commented, “this agreement represents the beginning of a significant change in the way Sponsors think about the payment process within the clinical trial environment. Our vision of applying well designed, automated and scalable technology to a process which has historically relied on manual processes is driving positive change. We are reducing administrative burden, reducing payment cycle times and improving accuracy.”

About Greenphire:

Greenphire is the industry’s leading provider of clinical payment technology, designed to change the way research professionals work. The company leverages proprietary workflow automation and advanced web‐based payment technologies to enable users to improve operational efficiency, reduce costs, mitigate regulatory risks, increase subject retention and compliance, and produce quantifiable results that improve clinical operations and strategic planning. For additional information about the company, please visit www.greenphire.com.

Greenphire awarded the PACT Enterprise Award for Technology Startup

King of Prussia, PA, 17 May, 2012 – Greenphire, the leading provider of payment technologies for the clinical trials industry, announced today that it has been awarded the Philadelphia Alliance for Capital and Technologies (PACT) Enterprise Award in the Technology Startup division. Greenphire and other Enterprise Award winners and finalists were recognized at the 19th Annual Enterprise Awards gala of 1,200 prominent business leaders on May 3, 2012 in Philadelphia.

The Enterprise Awards honor exceptional technology and life sciences companies and entrepreneurs in the greater Philadelphia region each year, with past ceremonies recognizing pillars of the healthcare and clinical trials community including Siemens Healthcare, BioClinica, and Shire Pharmaceuticals. The recognition followed an extensive vetting and selection process based on the finalist companies’ established success in delivering an innovative product, potential for growth, managerial ability, and demonstration of success via significant business milestones such as raising capital and achieving revenue growth.

Speaking at this year’s awards ceremony, PACT President and CEO Dean Miller commented on the role of Greenphire and other promising startup companies, saying “These startups are doing tremendous work that has great potential. For our region, they create jobs and provide business opportunity. But on a much wider scale they work to help improve the human condition…We’ve seen such a flurry of business activity over the past year, and businesses are growing and innovating. Venture money is starting to flow again, deal flow is ramping up, new products are rolling out the door, new partnerships are developing, and companies are hiring again. We can certainly feel the energy in the room. And it is that same energy and success that defines (Greenphire).”

Greenphire Co-Founder and CEO Sam Whitaker similarly expressed the company’s enthusiasm with the Enterprise Award, saying “It’s exciting to be recognized for the Enterprise Award. I’ve seen this award identify promising and ultimately thriving technology companies for years, and it’s a thrill for Greenphire to be a part of it this time around. It’s a true honor for me and the company, given the credibility and experience which PACT embodies.”

A full list of this year’s Enterprise Award winners and finalists can be found on the PACT website at http://pact.gpcc.com/.

About Greenphire

Greenphire’s clinical payment and communication solutions take a patient-centric and site-centric approach to driving data integrity and data completeness for sponsor, CRO, research university, and clinical research site clients. Greenphire’s web-based technologies are designed to improve the clinical experience for patients and sites, drive positive patient behavior, increase patient retention and compliance, and significantly reduce site and study team administration associated with patient payments and communication. Greenphire’s strategy is driven by the philosophy that empowered, satisfied patients and sites will deliver more consistent and better quality clinical data, which will in turn benefit both site coordinators and study teams. Learn more about Greenphire’s innovative clinical solutions at www.greenphire.com.

For further information on Greenphire and its innovative solutions please email: sales@greenphire.com, call +1 215-609-4640 or visit www.greenphire.com.

For further press information please contact Celine Goodier, The Scott Partnership, 1 Whiteside, Station Road, Holmes Chapel, Cheshire CW4 8AA, United Kingdom. Phone +44 1477 539539, Fax +44 1477 539540, Email greenphire@scottpr.com

Greenphire Selected as a PACT Enterprise Award Finalist

King of Prussia, PA, 08 February, 2012 – Greenphire, the leading provider of payment technologies for the clinical trials industry, today announced that it has been chosen as one of three finalists for the Philadelphia Alliance for Capital and Technologies (PACT) Enterprise Award in the Technology Startup division. Selection for the award was based on Greenphire’s established success in delivering an innovative product to meet a significant market need, potential for significant growth, managerial ability and record of achieving success, and demonstration of success via significant business milestones such as raising capital and achieving revenue growth.

Greenphire and the other Enterprise Award finalist companies will be honored at the 19th Annual Enterprise Awards gala of 1,200 prominent business leaders on Thursday, May 3, 2012, at the Hilton Philadelphia City Line.

The Enterprise Award finalists were selected from among hundreds of Greater Philadelphia area technology and life sciences companies nominated by entrepreneurs, investors, bankers, journalists, and industry insiders. Past winners include Siemens Healthcare, BioClinica, Shire Pharmaceuticals, and other leaders in the pharmaceutical and clinical trials industry. The PACT board of independent judges conducted a rigorous two-month selection process to determine the finalists, and will continue to evaluate each finalist’s ongoing performance in order to choose the winners.

“This year the number of applicants and, more importantly, the quality of applicants was at an all-time high,” said Charles Robins, managing director at Fairmount Partners and lead judge for the Enterprise Awards. “We have been through an era where companies have had to live on less capital, and what’s happened is we have a new generation of companies and of entrepreneurs who are growing successfully. It sets a very optimistic base for our future, and all of the judges this year felt that all of the companies being honored as finalists are superb choices.”

Greenphire CEO Sam Whitaker expressed the company’s enthusiasm with the selection, saying “The Enterprise Award is the top regional recognition in our industry and we are thrilled to be considered for this prestigious honor. Greenphire has seen rapid expansion over the past year and this selection comes at the perfect time for us to continue establishing ourselves as the leaders in clinical payments both here in the greater Philadelphia region and across the clinical trials industry.”

A full list of this year’s Enterprise Award finalists and past winners can be found on the PACT website at http://pact.gpcc.com/

About Greenphire

Greenphire’s clinical payment and communication solutions take a patient-centric and site-centric approach to driving data integrity and data completeness for sponsor, CRO, research university, and clinical research site clients. Greenphire’s web-based technologies are designed to improve the clinical experience for patients and sites, drive positive patient behavior, increase patient retention and compliance, and significantly reduce site and study team administration associated with patient payments and communication. Greenphire’s strategy is driven by the philosophy that empowered, satisfied patients and sites will deliver more consistent and better quality clinical data, which will in turn benefit both site coordinators and study teams. Learn more about Greenphire’s innovative clinical solutions at www.greenphire.com.

For further information on Greenphire and its innovative solutions please email: sales@greenphire.com, call +1 215-609-4640 or visit www.greenphire.com.

Greenphire Selected by AlwaysOn as a Venture Summit Mid-Atlantic 100 Winner

King of Prussia, PA, 13 December, 2011 – Greenphire, the leading provider of payment technologies for the clinical trials industry, today announced that it has been chosen by AlwaysOn as one of the Venture Summit Mid-Atlantic 100 winners. Inclusion in the Venture Summit Mid-Atlantic 100 signifies leadership amongst its peers and game-changing approaches and technologies that are likely to disrupt existing markets and entrenched players. Greenphire was specially selected by the AlwaysOn editorial team and industry experts spanning the globe based on a set of five criteria: innovation, market potential, commercialization, stakeholder value and media buzz.

Greenphire and the Venture Summit Mid-Atlantic 100 companies were honored at the IMPACT Venture Summit Mid-Atlantic event, November 29th and 30th, 2011, at the Ritz Carlton in Philadelphia, PA.

This two-day executive event featured CEO presentations and high-level debates on the most promising emerging technologies and new entrepreneurial opportunities on the East Coast. The Greater Philadelphia Alliance for Capital and Technologies (PACT) annual venture conference, IMPACT 2011, is the most established venture conference in the northeast. For over 20 years, IMPACT has been showcasing the best and most promising investment opportunities in the technology, life sciences and clean technology sectors.

“The Venture Summit Mid-Atlantic 100 winners are transforming the mid-Atlantic region’s technology community through innovation and creativity,” said Tony Perkins, founder and editor at AlwaysOn. “The companies represent some of the highest-growth opportunities in the mid-Atlantic private company marketplace across all industry sectors, including digital media and entertainment, on-demand computing as well as greentech and the life sciences.”

The Venture Summit Mid-Atlantic 100 winners were selected from among thousands of mid-Atlantic technology companies nominated by investors, bankers, journalists and greentech industry insiders. The AlwaysOn editorial team conducted a rigorous three-month selection process to finalize the 2011 list.

Greenphire is the leading provider of payment and communication technology solutions in the clinical trials industry. The firm was founded by Sam Whitaker and John Samar in 2008 with the vision of creating a globally scalable technology platform to allow pharmaceutical and medical device developers and clinical research sites to electronically deliver payments to investigators, vendors and trial participants. Since then, Greenphire’s technologies have been implemented to support over 60,000 clinical trial participants across 6,000 studies at 1,200 clinical trial sites.

"We're thrilled and honored to be included in AlwaysOn's Venture Summit Mid-Atlantic 100,” said Greenphire CEO Samuel Whitaker. “Greenphire's unique clinical payment solutions are a perfect fit with AlwaysOn's focus on technological innovation, and this recognition is extremely valuable as we continue to establish the Greenphire brand as the leader in developing cutting-edge clinical technology platforms."

A full list of all the Venture Summit Mid-Atlantic 100 winners can be found on the AlwaysOn website at:http://www.aonetwork.com/AOStory/Announcing-2011-Venture-Summit-Mid-Atlantic-100-Top-Private-Companies

About Greenphire
Greenphire’s clinical payment and communication solutions take a patient-centric and site-centric approach to driving data integrity and data completeness for sponsor, CRO, research university, and clinical research site clients. Greenphire’s web-based technologies are designed to improve the clinical experience for patients and sites, drive positive patient behavior, increase patient retention and compliance, and significantly reduce site and study team administration associated with patient payments and communication. Greenphire’s strategy is driven by the philosophy that empowered, satisfied patients and sites will deliver more consistent and better quality clinical data, which will in turn benefit both site coordinators and study teams. Learn more about Greenphire’s innovative clinical solutions at www.greenphire.com.

About AlwaysOn
AlwaysOn is the leading business media brand networking the Global Silicon Valley. AlwaysOn helped ignite the social media revolution in early 2003 when it launched the AlwaysOn network. In 2004, it became the first media brand to socially network its online readers and event attendees. AlwaysOn’s preeminent executive event series includes the Silicon Valley Innovation Summit, OnMedia, OnHollywood, Venture Summit Mid-Atlantic, OnDemand, Venture Summit Silicon Valley, OnMobile, and GoingGreen Silicon Valley. The AlwaysOn network and live event series continue to lead the industry by empowering its readers, event participants, sponsors, and advertisers like no other media brand.
For further information on Greenphire and its innovative solutions please email: sales@greenphire.com, call +1 215-609-4640 or visit www.greenphire.com.
For further press information please contact Celine Callender, The Scott Partnership, 1 Whiteside, Station Road, Holmes Chapel, Cheshire CW4 8AA, United Kingdom. Phone +44 1477 539539, Fax +44 1477 539540, Email greenphire@scottpr.com

Greenphire Closes Series A Financing Led by FirstMark Capital

KING OF PRUSSIA, PA (September 14, 2011) – Greenphire, the leading provider of web-based payment and communication technologies for the healthcare clinical trials industry, announced today that it has completed a Series A financing led by prominent New York-based venture capital firm, FirstMark Capital.

All of Greenphire’s existing angel investors, including leading healthcare industry veterans and entrepreneurs, participated in the funding.  Gerald A.Poch, a Founder and Managing Director at FirstMark Capital, will join Greenphire’s Board of Directors alongside the company’s existing Directors—CEO Samuel Whitaker, Dr. Neil Rotherham, and David Reuter—as part of the financing.  The Series A funding will support the recent launch of Greenphire’s innovative eClinicalGPS technology, a clinical payment platform designed to automate site and vendor payments within the clinical research environment.  Additionally, the capital will be used to expand global sales and marketing initiatives for Greenphire’s flagship technology platform, the ClinCard System, which currently hosts a client base of more than 140 clinical trials sponsors, research sites, contract research organizations and research universities.

Greenphire Launches Unique ‘Site Payment Solution’ to Facilitate Sponsor Compliance with Physician Payment Sunshine Act

Philadelphia, PA, (7 July 2011). Greenphire, the industry leading provider of clinical payment and communication technology solutions, has announced the launch of its Clinical GPS technology, a unique site payment solution that streamlines and automates the clinical payment process for sponsors of all sizes. The system provides the ultimate solution for compliance with the recently passed federal Physician Payment Sunshine Act, enabling clients to make the required disclosures and reports effortlessly.

Greenphire Partners with Mytrus to Provide Web-Based Solutions that Revolutionize Patient Recruitment and Retention, Enhancing Study Efficiency

Philadelphia, PA, (16 June, 2011). Greenphire, the industry leading provider of clinical payment and communication technology solutions, has announced the partnership with Mytrus to deliver novel and efficient web-based solutions for clinical trial patients. In an industry characterized by timeless corporate giants like Johnson & Johnson, Pfizer, and Merck, two young technology companies are partnering to transform the clinical research environment.  Recognizing longstanding deficiencies in the traditional clinical trials process, Greenphire LLC, based in Philadelphia and San Francisco startup Mytrus Inc. have developed web-based solutions to streamline the arduous and expensive tasks of recruiting, retaining, and efficiently administering clinical trials.  Greenphire’s ClinCard System, a web-based patient payment, management and communication platform, compliments the functionality offered by Mytrus and its innovative methods for allowing patients to participate in clinical research studies directly from their own homes.

By revolutionizing the clinical research process with these new technologies, Greenphire and Mytrus hope to empower patients to play a larger and more critical role in pharmaceutical development.  In contrast to the traditional environment in which patients have often needed to repeatedly travel long distances to be evaluated by participating medical centers, Mytrus allows patients to use innovative web technology to provide their own study data over the internet and then be immediately compensated directly to a Greenphire ClinCard debit card the patient carries around in their wallet.

In Shifting Regulatory Climate Greenphire Unveils Latest Clinical Payment Solutions at DIA 2011

Pennsylvania, (07 June 2011) Greenphire, the industry leading provider of clinical payment and communication technology solutions, will showcase its ground breaking clinical payment solutions including ClinCard, an automated payment and communications system and its new ClinicalGPS technology at the annual DIA 2011 symposium in Chicago, Illinois, June 19th to 23rd. To find out more, visit the company at booth #231 at DIA 2011.

Despite the fact that a significant proportion of the adult American population does not possess a bank account, clinical trial sponsors have relied upon costly and time consuming paper checks for subject payment.
Greenphire offers a cost effective, easy-to-use alternative to these traditional paper-based payment methods, promoting recruitment and aiding subject retention both through efficient delivery of funds and the associated execution of study specific subject messaging programs.

The Scott Partnership Appointed by Greenphire, Leading Provider of Clinical Payment and Technology Solutions

Cheshire, UK (April 20, 2011) - Global life sciences and technology strategic communications agency The Scott Partnership, announces that it has been appointed by Pennsylvania-based Greenphire to lead a PR campaign aimed at raising company and brand awareness. Since being founded in 2007, Greenphire's clinical payment and communication technologies have been adopted by over 100 unique clients throughout the Americas, Europe and Asia Pacific. This latest addition to The Scott Partnership's portfolio is a further step in the company's ongoing expansion, strengthening its customer base and presence in the clinical studies market.

Patients participating in clinical trials have traditionally been reimbursed for their time and expenses by paper check. This is not an efficient payment method as checks are both time- and cost-intensive to administer, and in addition can be costly for the patient as approximately 60 million Americans are currently living without a bank account. In response, Greenphire have introduced an auditable card payment and communication system called the ClinCard solution which allows the study participants to be reimbursed in real-time through a reloadable debit card. The ClinCard is coupled with protocol, appointment and financial communication custom tailored to the study, resulting in benefits of increased subject retention and protocol compliance. The ClinCard solution is currently utilized by over 35 Sponsor companies and across over 1,000 studies at present. The Scott Partnership will undertake a PR campaign that further raises the profile of the company within the clinical industry.