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Center City-based excelleRx is planning to expand its presence in the organ-transplant and chronicpain markets.
The plans of the 6-year-old company, a leading provider of medication management services for hospices, received a huge boost last week when it raised $37 million from a group of venture capital firms.
Calvin H. Knowlton, excelleRx's founder and CEO, said part of the money will be used to adapt the company's proprietary technology to new segments of the healthcare industry.
"Right now, the way medicine is prescribed is based largely on the preferences of the prescriber," he said. "What we are saying is instead of preferences, let's use evidence."
Knowlton said the company has already started applying its technology in the chronic-pain and transplantation areas.
"We believe our model will work in any area that involves multiple medications and high risk or high cost," he said.
Patients who receive organ transplants take more than a dozen drugs every day to manage their health and keep their body from rejecting their new organ.
"What we can provide is evidence showing which drug cocktail works best" for different types of patients, Knowlton said.
The company has created a pharmaceutical-care infrastructure that combines its proprietary technology...