St. Petersburg start-up gets promising foothold in Bavarian market | North West, Finance, business MarchmontNews.com

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St. Petersburg start-up gets promising foothold in Bavarian market

6 Oct '17
Data MATRIX, a St. Petersburg start-up developing clinical data processing solutions, has since August been operating out of its new rep office in Munich, in southern Germany; it also then joined the Bavarian biotech cluster.

Data MATRIX’s new Bavarian office is expected to facilitate the Russian company’s interaction with international customers. The start-up also hopes to find prospective partners among Bavarian cluster resident companies.

The St. Pete start-up will offer its new clients the company’s existing products and services, as well as its new R&D product for clinical trial control called CTMS.

Set up three years ago, Data MATRIX has come up with special software to arrange and manage clinical trials. Its current portfolio reportedly includes more than 100 projects for pharmas, biotech companies, and contract research organizations (CROs).

At the end of last year Data MATRIX raised a reported $2.8m from the Russian government-owned Internet Initiatives Development Fund (known in Russia under the FRII abbreviation) and Primer Capital, a Russian private venture fund. The start-up has used the money to step up project development and prepare for foreign market entry.