Radnor-based Clarix being acquired for $40M

Radnor-based Clarix LLC, which develops software used to run clinical trials, is being acquired by Massachusetts-based Phase Forward Inc.

The Waltham company, which also provides software for clinical trial and drug safety monitoring, announced today that the privately held Clarix is being acquired for about $40 million in cash.

Clarix, which has 70 employees, will continue to operate out of its Radnor offices, Phase Forward said.

Clarix's software, which has been translated into 55 languages, is used for subject randomization, predictive medication inventory management, and operational management and reporting in clinical trials, and also includes a Web-based element.

Clarix, which generated about $2.7 million in revenue in 2007, should generate about $6.3 million for the full year 2008 on a stand-alone basis, Phase Forward said.

The company estimates that Clarix will contribute about $2.7 million in revenue to Phase Forward's results for the remainder of 2008, with an operating loss of about $600,000, which will lead to an earnings reduction of $0.01 to $0.02.

Phase Forward said it expects Clarix to contribute revenue of $13 million to $15 million during 2009, but to generate only a small amount of operating income for that full year.