NEW YORK (GenomeWeb News) – Private equity firm Arsenal Capital Partners today announced it has bought Certara, a provider of model-based drug development and data analytics software and consulting services to the biopharmaceutical research and development market.
Arsenal bought Certara from Vector Capital, which backed Jim Hopkins in forming Certara in 2007. Hopkins is now Certara's CEO.
The financial details of the acquisition were not disclosed.
James Rothman, an Arsenal operating partner and now a Certara board member, said in a statement that the private equity firm was interested in Certara because its offerings can increase "both the effectiveness and efficiency" of the drug development process.
"Model-based drug development is allowing pharmaceutical and biotechnology companies to adopt a more rigorous, quantitative approach to drug development," Rothman said. It "allows more informed decisions to be made about which drug candidates to move forward and how to optimize clinical trial designs, which is better for the industry and, ultimately, for patients."
Donald Deieso, operating partner and co-head of Arsenal's Healthcare Group, added that his firm plans to "build upon Certara's existing drug development software and consulting services to make the company an even stronger, more versatile partner for its pharmaceutical and biotechnology customers."