Two of the most important trends investors need to keep up with are, (1) the latest drugs and therapies being developed by the biotech and pharmaceutical industries, and (2) the seemingly daily advances in the world of big data and cloud computing. These two trends are converging as companies aim to provide more extensive data review for medical professionals.

Modern medical techniques generate an enormous amount of data. Physicians and other medical professionals are constantly gathering information on the often-unexpected effects of proposed drugs and therapies – both positive and negative. For example, the drug Humira, which was initially marketed as a medicine for people with rheumatoid arthritis, has been found to be useful in addressing psoriasis and certain digestive problems.

It’s no secret that big players like Google (NASDAQ: GOOG) and Amazon (NASDAQ: AMZN) are using their mountains of data for all sorts of analytics and predictions about the world marketplace. But many smaller companies are working on more specialized tools for tracking patient outcomes, genetic expression, and other medical markers. Information that might start out with a hand-scribbled note by a doctor must be processed and combined in a comprehensible way.

As the potential of big data is realized, it could provide better answers to many questions that could make a real difference in health care and quality of life. What are the chances that an overweight teenager will someday develop diabetes? What are the real cancer risks of workers who have been exposed to different types of chemicals? What are the most important factors in causing asthma – genetic predisposition, or the indoor environments where children grow up?

The challenge in all this will be in constructing data analytics that can combine information from billions of one-on-one patient interactions. But the companies that figure it out will stand to profit handsomely.

One of the most interesting companies in this business is OmniComm Systems (OTCQB: OMCM), which has become one of the top providers of data management for clinical trials. The company, which was founded in 1997, has become a presence in all major world markets. It has offices in Ft. Lauderdale, Florida; Bonn, Germany; Leiden, The Netherlands; and Tokyo. 

OmniComm’s TrialMaster system is considered the leading electronic data capture technology in the field. It allows users to enter and manage clinical trial data according to defined protocols, producing data reports that provide a summary of all available features, illustrated by screenshots and examples.

TrialOne is a browser-based, mobile, clinic automation solution designed specifically for early-phase research that facilitates subject recruitment, source data capture, sample tracking, data management and reporting. TrialOne offers time-based data entry and automates many data collection activities via its ability to both print and scan barcodes, as well as to integrate directly with medical monitoring and laboratory equipment.

Enhancements to the latest version of TrialOne include:

• Comprehensive integration with bedside patient monitoring, telemetry and clinical devices with enhanced ability to send electrocardiography (ECG) orders to various devices;
• Ability to read ECG tracings in real-time, enabling clinic staff to effectively respond to research participants in a timely fashion; and
• Enhancements in handling treatment blinding that allows researchers to effectively track drugs per research participant in adherence to clinical plan and dosages.

OmniComm recently reported that a leading biotechnology company has selected OmniComm’s TrialMaster electronic data capture technology (EDC) to support three Phase III late stage clinical development studies (the name of the company has not been made public). TrialMaster will be used for two randomized, double-blind, placebo-controlled efficacy and safety studies.

The biotechnology company will integrate TrialMaster with its preferred Interactive Response Technologies (IRT) solution. IRT solutions automate randomization and clinical supplies management and when integrated with TrialMaster EDC provides a comprehensive end-to-end solution.

TrialMaster’s intuitive user interface and innovative data capture, data management and reporting functionality was a significant factor in this company’s selection of TrialMaster.

“This award is not only about choosing the best EDC system on the market but it is also about how well best-of-breed technology can be brought together seamlessly and efficiently,” said Dr. Kuno van der Post, senior vice president business development. “Our partner centric approach is clearly resonating with the market place.”

OmniComm also has a three year agreement for TrialOne with AXIS Clinicals, a global contract research organization. AXIS Clinicals selected TrialOne to standardize their processes, improve their business intelligence, ensure regulatory compliance, and achieve overall business transformation at its 300-bed clinic.

Keep in mind: OmniComm is truly a small-cap stock, with a market capitalization of around $17 million. The share price has fluctuated from .09 to .27 in the last 52 weeks, which is a huge range in percentage terms. It’s a speculative pick, but the company’s rapid expansion into global markets and existing relationships with established players in health care make it a good bet.

Buy OmniComm up to $0.32.