SMO Clinical Research (I) Pvt. Ltd (SMO-India), a pure Site Management Organisation (SMO) based in Bangalore, is planning to add 30 more clinical trial sites to its network within the current financial year.
The company, with 20 hospital sites in its network at present to offer site management service for clinical trials, would add 25 more multi-speciality sites from major cities through tie ups with hospitals and hospital groups by the end of December 2007. An amount of around Rs 8.50 crore would be invested to reach the target of 50 site centres within March 2008, informed Dr Ram Anjaneya, managing director, SMO India.
The company is in talks with hospitals and hospital groups to reach the target and majority of them are expected to materials within next three months. "With expanding our network to 50 centres, we would be the number one pure SMO player in the country. Our vision is to become the major site management service provider in the country and in the global market," Dr Anjaneya said.
Currently, the firm is coordinating for 46 clinical trial projects through its network. The number of projects to be handled through the company is expected to reach 180 to 200 with the completion of expansion programmes. Launched in April 2007, SMO India is expected to mark a turnover of Rs 2 to 4 crore in the first year of operation.
As the part of its overseas plans in near future, the company is initiating talks with various groups of companies in Far East countries. At present, the firm is working out to set up its operations in Malaysia from where the projects at Singapore and Thailand could be coordinated. "There is a market available for SMO operations with the emerging clinical research activities in this area and we want to be the front runner," added Dr Anjaneya.
The company, which has tied up its activities with the California based Arrowhead Regional Medical Centre in August 2007, is also currently identifying more sites for expansion of operations in US.
SMO India is currently working to identify sites for its clients in which clinical research practices and clinical trials are consistently conducted in accordance with ICH, GCP and FDA standards. The firm would coordinate with its clients to identify and build the best-suited strategic alliances for outsourcing and conducting outpatient and phase I and IV inpatient clinical trials involving pharmaceutical, biological and medical device products.