MedAvante Honored By Ernst & Young LLP and Red Herring

HAMILTON, N.J., July 3, 2012 /PRNewswire/ -- MedAvante, Inc., the world's leading provider of centralized assessments in clinical trials of treatments for central nervous system (CNS) disorders, has been honored for excellence and innovation by two major recognition programs.  

MedAvante co-founder and Chief Executive Officer Paul M. Gilbert  was selected by an independent panel of judges to receive the Ernst & Young Entrepreneur Of The Year® 2012 Award in the Life Science category at a gala event in New Brunswick, NJ.  One of the world's most prestigious business awards for entrepreneurs, the Ernst & Young competition recognizes excellence and extraordinary success as well as personal commitment to business and community.

A second honor came from global media company Red Herring, whose editorial team named MedAvante to the Red Herring Top 100 Americas list of innovative, unique and promising startup companies in North America.  Gilbert and co-founder Amy Ellis, MedAvante Chief Strategy and Marketing Officer, were recognized at the Red Herring 2012 Top 100 Americas forum in San Diego, CA.

"MedAvante is very proud to see our achievements over the past decade and our potential for the future acknowledged in such impressive competitions," said Gilbert.  "These honors represent further evidence that our solutions are finding increasing acceptance worldwide among sponsors of clinical trials in the CNS field," he said.

To solve the intractable problem of mental health trials that fail to reach conclusive results, MedAvante connects its blinded, independent clinicians with research trial sites, either to directly interview study subjects live via video conferencing, or to monitor and evaluate recordings of assessments conducted at these sites.

Standardization through MedAvante's centralized trial services prevents clinical bias and minimizes variability, two root causes of inconclusive studies.  As a result, drug developers can achieve increased study power and reduce the risk of a failed trial.

"Because we've demonstrated that we're able to solve the intractable problem of failed CNS trials, we are expanding rapidly, both geographically, from the U.S., Russia and Eastern and Western Europe into Latin America and Asia Pacific regions, and by entering new therapeutic areas such as neurocognition with work on global Alzheimer's disease studies," said Gilbert.

Gilbert will now be eligible for consideration for the Ernst & Young National Entrepreneur Of The Year 2012 Award, and MedAvante will be a candidate for the 2012 Red Herring Global Top 100 honor.

About MedAvante, Inc.

MedAvante is the leading global provider of centralized expert psychiatric and neurocognition rating and monitoring services to the pharmaceutical, biotechnology and medical device industries.  MedAvante solutions help sponsors achieve enhanced assay sensitivity for increased drug effect and reduced trial failure rates, enabling them to bring better drugs to market faster. With headquarters in Hamilton NJ and operations hubs in Moscow and Munich, MedAvante delivers central trial services in more than 20 countries worldwide from within each country.  For more information, please visit www.medavante.com

SOURCE MedAvante, Inc.