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Medical and Consumer Health Intelligence Company Implements Collexis' Knowledge Discovery Technology as Tool to Facilitate Research and Trend Analysis
Jul 28, 2008 8:57:00 AM
COLUMBIA, S.C.--(BUSINESS WIRE)--
Collexis Holdings Inc. (OTCBB:CLXS), a leading developer of semantic search and knowledge discovery software, announced today that it has contracted with Balan Biomedical, Inc., a medical and consumer health intelligence company, to provide its Collexis Mediator product for the organization to support market research and trend analysis in the field of biotechnology. Balan will use the software as a research and analysis tool to identify and track clinical needs, which will facilitate consumer health research and clinical analytics.
Collexis Mediator offers researchers a more meaningful and efficient means of finding information by operating as an advanced text-mining tool and enables the end user to track scientific trends as well as conduct in-depth assessment of a given field of scientific investigation. Along with advanced document search and semantic analysis capabilities, Collexis Mediator is linked to a biomedical-expertise repository of over one million scientists, the profiles of each expert being based on scientific articles published in peer-reviewed journals.
"We are pleased that Balan has chosen Collexis to support its market research and consulting in the field of biotechnology," said Jon Lieberman, general manager, government and enterprise worldwide for Collexis. "This is an example of how Collexis' technology can be used for more than academic research and fundamental research and discovery, but also for commercial use. The software allows an analyst to scour the market and pinpoint and monitor competition, as well as uncover targets for acquisition. We are excited about this announcement and hope this is the beginning of a lasting partnership."
Balan Biomedical is working with Collexis developers to create its own analytic algorithm to conduct trend analysis based on data that is compiled through the software. By identifying areas of clinical interest, tracking clinical needs and trending what is happening with biomedical literature, Balan mitigates risk and leads to dramatic improvements in patient health through its innovative method that combines clinical needs forecasting, technology scouting, resource discovery and market assessment and evaluation.
Chief Executive Officer of Balan Biomedical Elisabeth Hager remarked, "We chose Collexis after conducting lots of research; we thought about building our own (text-mining tool), but were excited to learn that one with such impressive technology was already built. Collexis supports our business model nicely and we are very impressed with the level and quality of work--I anticipate Balan will incorporate more Collexis technology and products to support our market research and analytics in the future."