Raleigh, NC (PRWEB) October 23, 2013
Clinverse, Inc., provider of the first end-to-end, cloud-based financial lifecycle system for automating global clinical payments, announced today that Naurex Inc. has implemented ClinPay® to automate investigator payments for a current Phase II trial.
Naurex, a clinical-stage company developing treatments to address unmet needs in psychiatry and neurology, implemented ClinPay for a Phase II trial of its investigational antidepressant agent, GLYX-13. The trial is expected to enroll subjects at up to 25 sites across the US.
Naurex’s VP of Finance, Jim Schulz, was focused on finding an automated payment solution that would allow the biotech company to have complete control over its financials, including payments, invoicing, and cash management. According to Schulz, “As a smaller company, having a system in place that allows us real-time visibility into our financial outlook is an important time and resource saver, and in turn gives us a higher level of confidence as we move forward in our trial.”
In addition, drug development teams at companies such as Naurex require solutions that can efficiently address several other key financial management issues:
1. Ability to generate benchmark data for financial trending and forecasting for future trials – predicting how much and when the company will be spending cash in future studies.
2. Level of control over financial data that leads to significant time saving and resource efficiencies.
3. Ability to ensure timely and accurate payments to sites, which result
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