MedAvante Is One of NJ's Fastest Growing Companies

HAMILTON, N.J., Nov. 1, 2011 /PRNewswire/ -- MedAvante, Inc., the world's leading provider of centralized expert assessments in clinical trials of treatments for central nervous system (CNS) disorders, announced it has been selected as one of New Jersey's 2011 Fifty Fastest Growing Companies.

NJBIZ, New Jersey's premiere business news publication, annually identifies the NJBIZ 50 Fastest Growing Companies in celebration of New Jersey's most dynamic companies who progressively contribute to the success of the state's economic growth and stability.

Selection criteria included annual revenue and revenue growth rate over the four year period from fiscal year 2007 to 2010.  Co-sponsor Rothstein Kass calculated the nominations and ranked companies according to revenue growth over the four-year period, with both dollar and percentage increases taken into consideration.

"MedAvante is growing very rapidly because we offer solutions that have been empirically and consistently proven to solve the major problems facing sponsors of clinical trials in the CNS field," said Paul M. Gilbert, Chief Executive Officer and co-founder of MedAvante.

"From our beginning in New Jersey nearly a decade ago, we have built out a global network that now covers over twenty countries, including Eastern and Western Europe, where we've established operations hubs in Moscow and Munich," he said.  "Our growth is a result of expanding from individual studies in the US to multi-country global programs."

MedAvante connects blinded, independent expert clinicians with investigative research sites, either to directly interview trial subjects or to monitor and evaluate recordings of assessments conducted at sites.

Centralizing expert clinicians for live interview administration or evaluation of site-based subject interviews maintains blinding from any information that could create biases and permits ongoing standardization that minimizes site-to-site and period-to-period variability.  As a result, clinical trial sponsors can achieve increased study power and reduce the risk of an inconclusive trial.

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. MedAvante operates facilities in Hamilton, NJ, Moscow, Russia and Munich, Germany.  For more information, please visit www.medavante.com.

SOURCE MedAvante, Inc.