December 18, 2007
Verilogue Secures Investment from Edison Venture
Fund;
Company Leads Market in New Research Technology
Funds Will Fuel Development of Technology, Marketing and Sales--
Verilogue, inventor and leader of new technology for Point of Practice™ pharmaceutical market research, announces plans for leveraging its $4 million in financing from Edison Venture Fund of Lawrenceville, NJ.
Verilogue's patent-pending technology system captures real-time physician-patient conversations at the Point of Practice™. The company’s large, nationwide database of recorded interactions provides feedback on specific medicines, competitive positioning and communication materials for pharmaceutical and biotech companies.
“Our due diligence identified brand managers who raved about Verilogue's unique research techniques and insightful analysis,” stated Orlando Mendoza of Edison Venture Fund. “We were impressed by how quickly Verilogue has executed and ramped up,” added John Martinson, managing partner of Edison Venture Fund.
“Our plans for the financing include advancing our technology platform and nationwide database of physician-patient information,” remarked Jeff Kozloff, president and CEO for Verilogue. “We embark on an exciting time for medical market research. By using Verilogue's technology to improve access and information sharing, healthcare companies are now equipped with more reliable customer data to enhance disease research, drug development and communication methods.”
Verilogue also plans to utilize the funds for growth in marketing and sales.
About Verilogue
Verilogue brings patients, physicians and the healthcare industry together
to share information, enhance disease understanding and participate in
medical marketing research. Verilogue's patent-pending technology system
captures information at the Point of Practice™ and enables physicians to
digitally record conversations with select patients each month. Verilogue
provides a secure and confidential way for patients and physicians to share
opinions during office interactions.
The physician and patient information collected by Verilogue is made
anonymous and used by the healthcare industry to further enhance their understanding
of the numerous diseases that face our society today. By participating in
this research, we come together with one common goal, to win the fight against
disease. Verilogue was recently named Technology Startup Company of the
Year by the Eastern Technology Council. www.verilogue.com
About Edison Venture Fund
Established in 1986, Edison partners
with entrepreneurs, service providers and other financing sources to build
successful companies. Edison provides
capital and value-added services to expansion stage ($5 to 20 million revenue),
information technology businesses. Initial investments range from $4
to 7 million. Edison typically serves as a sole or lead investor in
financings up to $10 million. In addition to providing expansion capital,
Edison funds management buyouts, recapitalizations, spinouts and secondary
stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, New York, NY, West Chester, PA, and McLean, VA. Industry specialties include application software, communications, financial technology, interactive marketing, healthcare & pharmaceutical IT. Edison’s successes include Axent, Best Software, Gain Capital, Liberty Tax, MathSoft, Princeton Financial, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. www.edisonventure.com
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