GAP Innovations, a public benefit corporation founded by a nonprofit, announced on January 4 that it acquired Axiom Clinical Research.
Axiom Clinical Research is a research institute that has been operating in the Tampa, Florida area for three decades. It was founded in 1993 by president and now lead researcher Dr. Susan Steen. The clinic performs neurological research and provides individualized service to patients. It focuses on finding therapies and cures for diseases such as Alzheimer’s, Multiple Sclerosis, Parkinson’s and other life-threatening neurodegenerative diseases.
GAP Innovations was founded by Global Alzheimer’s Platform Foundation, a Washington, D.C.-based nonprofit dedicated to speeding the delivery of innovative therapies to those living with Alzheimer’s and Parkinson’s by reducing the time and cost of Alzheimer’s disease and Parkinson’s disease clinical trials. According to U.S. Securities and Exchange Commission filings, Global Alzheimer’s Platform Foundation in 2021 earned approximately $7.3 million in revenue and held $4.4 million in total assets.
The acquisition serves to help GAP Innovations launch its first clinical research center. The space, still called Axiom Clinical Research, will share education resources and research programs with seniors to support learning about brain health. Terms of the transaction were not disclosed.
In the next two years, GAP Innovations expects to hire between 12 and 20 researchers as it works to develop the clinic with Axiom. It is also looking to partner with physicians, hospitals, senior service organizations and any entity relevant to the research space.
According to data captured in the LevinPro HC database, this acquisition marks the first clinical trials transaction of 2024. There were 42 clinical trials deals announced during 2023, a 40% increase over the 30 deals announced during 2022.
