Complion Inc. in Cleveland has been acquired by RealTime Software Solutions LLC in San Antonio, Texas, for undisclosed terms.
Founded in 2013, Complion develops workflow platforms and document management systems for clinical researchers.
The company's acquisition "bolsters the combined organization’s position as a leading provider of eClinical solutions to make clinical research processes more efficient and compliant," RealTime Software said in a statement.
The addition of Complion’s eReg software also adds another product to RealTime's Site Operations Management System for investigators at clinical research sites, academic medical centers (AMCs), hospitals, health systems, study sponsors and contract research organizations (CROs), the Texas company said.
"The addition of Complion enhances our electronic regulatory capabilities ... while expanding our offering to AMCs, sponsors and CROs," said Stephen Johnson, CEO of RealTime, in a statement.
Complion founder and CEO Rick Arlow was doing clinical research at Case Western Reserve University in Cleveland when he came up with the idea for the company, according to Complion's website.
Arlow was shocked to find that clinical research sites relied on paper binders and manual processes to ensure regulatory compliance, hampering the study teams' performance and ability to start trials at the necessary volume and speed, the website states.
Drawing on his engineering background, Arlow designed electronic regulatory and electronic investigator site file software to support his research and study team.
Complion's eReg software automates investigator regulatory compliance; eliminates paper, redundancies and manual processes; and alleviates the monitoring burden so research sites can start their studies faster, the website says.
Complion has raised at least $12.7 million in eight funding rounds since 2013, according to Crunchbase.
The company's latest funding of $7 million in 2019 was led by Beringea, the U.K.-based venture capital investor, with participation from Ohio Innovation Fund, JumpStart Inc. and the Ohio TechAngel Fund, according to FinSMEs.com.
Cleveland's North Coast Ventures invested in Complion's first round of venture capital in 2015, according to Crunchbase.
