OpenQ Secures Investment from Leading Mid-Atlantic Venture Firm

Grotech Ventures Backs Innovative Information, Research and Technology Platform for Life Sciences Marketing, R&D and Medical Affairs

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My co-founder, Otavio Freire, and I look forward to our continued partnership in securing openQ's position as a leader in its sector providing technology, information and research to life sciences companies around the world.

Charlottesville, VA, San Diego, CA, New York, NY and Paris, France (PRWEB) September 10, 2009

OpenQ, the industry leader in innovative tools for information and research for life sciences marketing, compliance, R&D and medical affairs announces that it has secured an equity investment from Grotech Ventures. The new capital will fuel an expansion of openQ into new markets and new research areas.

"We are thrilled to receive an investment and strategic guidance from a fund like Grotech, who has a track record of enabling technology, information and services for life sciences companies to grow and meet their full potential," stated Jim Zuffoletti, openQ President. "My co-founder, Otavio Freire, and I look forward to our continued partnership in securing openQ's position as a leader in its sector providing technology, information and research to life sciences companies around the world."

Otavio Freire, Chief Technology Officer and Co-Founder of openQ, commented: "These proceeds will fund additional critical data sets and their integration within our platform. It will also allow us to develop the appropriate and necessary infrastructure to bring the solutions to fruition. I believe there will be a tremendous amount of opportunity in the life-sciences information markets for openQ products. Our top-of-the-line applications, data, regulatory and go-to-market database are like no other. Life science companies can now literally access, crunch, analyze and store information and critical processes from the very same screen and collaborate with the physicians in the market. We believe openQ will prove integral to the huge opportunity in this market and will bring excellent returns for our investors. We look forward to this next stage of our development."

"Grotech is pleased to begin a collaboration with openQ to help the company extend their current leadership position as an innovator in life sciences technology and information. We are impressed with openQ's rapid growth and successful track record serving the largest pharmaceutical and the smallest biotechs with creative solutions to help ensure compliance, speed time to approval, and accelerate adoption," added Chuck Cullen, General Partner at Grotech.

The openQ Platfom

The openQ platform includes breakthrough tools and research to identify trends, organizations and key individuals who impact adoption and scientific dialogue while ensuring compliance. The company's easy to use technology provides instant access to vital market information updated in real time. The openQ platform includes the following on-demand information and software tools:

•openIdentify - the only real time KOL identification solution for marketing, medical affairs and R&D, backed by over 500 million records of dynamically updated information
•openPresenter - the only slide management solution to ensure complete online and offline speaker compliance
•openProfile - the leading information solution to support competitive intelligence and medical and marketing program planning
•openKOL - for marketing teams to successfully engage KOLs
•openMSL - the leading solution for managing field medical organizations
•openSpeaker - for Speaker selection and speaker bureau management
•openIIT - for IIT compliance, submission and approval workflow

About openQ

In its sixth year of rapid growth, openQ has offices throughout the United States, Asia, and Europe and a growing client list that spans the globe. The continued interest of life science companies in openQ's products has led them to expand their client base fourfold since 2006. The company serves eight of the top ten pharmaceutical companies and three of the top five medical device companies. For more information, visit http://www.openq.com.

About Grotech Ventures

Founded in 1984, Grotech Ventures is a leading early investor in high-potential technology companies. Grotech seeks investments in communications and IT infrastructure, software and services, and Internet and digital media. The firm focuses on the Mid-Atlantic and Southeast regions and other select geographies. Grotech continues to invest and add value throughout the growth of its portfolio companies. The firm has a strong combination of financial backing, industry relationships, and deep domain and operational expertise to accelerate growth. With over $1 billion under management in its seven funds, Grotech supports early-stage companies through investments starting at $500,000. For further information, visit http://www.grotech.com.

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