Fast Track Raises $30.1 Million to Accelerate Market Rollout and Product Development

Apr 26, 2001, 01:00 ET from Fast Track Systems, Inc.

    SAN MATEO, Calif., April 26 /PRNewswire/ -- Fast Track Systems, Inc., a
 medical informatics technology company that provides information, design, and
 execution tools for the clinical development community, today reported raising
 $30.1 million in its third round of financing.  The company will use the
 capital to expand the scope of its TrialSpace(TM) system, an
 informatics-enabled suite of products and services that reduces the time and
 cost of clinical trials.  Fast Track will add additional applications to the
 system through internal development, partnerships and acquisitions; develop
 new databases and data-related applications to complement its recent
 acquisition of DataEdge; partner with investigator networks; and expand its
 international presence.
     In this third financing round, Lombard Odier & Co., Dow Chemical, and
 State Farm joined a group of investors that includes Arch Venture Partners,
 CW Group, Frazier & Company, and Tredegar Investments.  Fast Track's investors
 have been instrumental in founding and early stage financing of leading firms
 focused on accelerating drug discovery, including Millennium Pharmaceuticals,
 Pharmacopeia, Caliper Technologies, and Aurora Bioscience.
     "This infusion of capital is a strong vote of confidence that will help us
 further our vision of a model-driven, end-to-end solution for trial design,
 set-up, and execution," said Jim McCord, Fast Track's president and CEO.
 "Fast Track's Intelligent Clinical Protocol (iCP(TM)) technology has proven
 its value as a standard model for designing and implementing faster,
 lower-cost trials that have an improved chance of successful outcomes.  We've
 had very positive feedback from our clients and beta partners, and this
 financing will allow us to build on our successful product launch to expand
 the number of sponsors and sites using our system."
     "We are delighted to be an investor in Fast Track," said Larry Bock,
 Partner at CW, Ventures.  Fast Track was able to conclude this financing even
 in these times of tight money because its products are real, its vision and
 technology are unique and compelling, and it is attracting the attention of
 major pharmaceutical companies."
 
     About Fast Track
     Fast Track Systems, Inc. improves the clinical development process by
 applying advanced medical informatics technologies to the labor-intensive,
 paper-based processes used in today's clinical trials.  Based on its industry
 exclusive iCP(TM) technology, the company is providing substantial benefits
 and return-on-investment to pharmaceutical and biotechnology companies who
 need to reduce the time and cost of developing new drugs and medical devices.
 More information about Fast Track and its family of products and services can
 be found by visiting: www.fast-track.com.
     NOTE:  Fast Track Systems, Inc., TrialSPACE, and iCP are trademarks of
 Fast Track Systems, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X20471323
 
 

SOURCE Fast Track Systems, Inc.
    SAN MATEO, Calif., April 26 /PRNewswire/ -- Fast Track Systems, Inc., a
 medical informatics technology company that provides information, design, and
 execution tools for the clinical development community, today reported raising
 $30.1 million in its third round of financing.  The company will use the
 capital to expand the scope of its TrialSpace(TM) system, an
 informatics-enabled suite of products and services that reduces the time and
 cost of clinical trials.  Fast Track will add additional applications to the
 system through internal development, partnerships and acquisitions; develop
 new databases and data-related applications to complement its recent
 acquisition of DataEdge; partner with investigator networks; and expand its
 international presence.
     In this third financing round, Lombard Odier & Co., Dow Chemical, and
 State Farm joined a group of investors that includes Arch Venture Partners,
 CW Group, Frazier & Company, and Tredegar Investments.  Fast Track's investors
 have been instrumental in founding and early stage financing of leading firms
 focused on accelerating drug discovery, including Millennium Pharmaceuticals,
 Pharmacopeia, Caliper Technologies, and Aurora Bioscience.
     "This infusion of capital is a strong vote of confidence that will help us
 further our vision of a model-driven, end-to-end solution for trial design,
 set-up, and execution," said Jim McCord, Fast Track's president and CEO.
 "Fast Track's Intelligent Clinical Protocol (iCP(TM)) technology has proven
 its value as a standard model for designing and implementing faster,
 lower-cost trials that have an improved chance of successful outcomes.  We've
 had very positive feedback from our clients and beta partners, and this
 financing will allow us to build on our successful product launch to expand
 the number of sponsors and sites using our system."
     "We are delighted to be an investor in Fast Track," said Larry Bock,
 Partner at CW, Ventures.  Fast Track was able to conclude this financing even
 in these times of tight money because its products are real, its vision and
 technology are unique and compelling, and it is attracting the attention of
 major pharmaceutical companies."
 
     About Fast Track
     Fast Track Systems, Inc. improves the clinical development process by
 applying advanced medical informatics technologies to the labor-intensive,
 paper-based processes used in today's clinical trials.  Based on its industry
 exclusive iCP(TM) technology, the company is providing substantial benefits
 and return-on-investment to pharmaceutical and biotechnology companies who
 need to reduce the time and cost of developing new drugs and medical devices.
 More information about Fast Track and its family of products and services can
 be found by visiting: www.fast-track.com.
     NOTE:  Fast Track Systems, Inc., TrialSPACE, and iCP are trademarks of
 Fast Track Systems, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X20471323
 
 SOURCE  Fast Track Systems, Inc.

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