Clinical Data Solutions On Demand
For biopharma, contract research organizations (CROs) and medical device companies, innovation and time haven’t always been mutually beneficial to the bottom line. In fact, they have been at polar opposites.
Most industry research suggests that it takes approximately 13 years to bring a drug product to market. But that’s only if it’s successful. Only one out of 5,000 to 10,000 drug candidates make it to human trials. Roughly 45% of all drug candidates fail in Phase III. Even if drugs are approved by regulatory authorities, looming 20-year patent expiry dates mean that companies only have a 7-year window to garner a return on their investment.
The adoption of conventional electronic data capture (EDC) software is helping to reduce the average study close out from three months with paper to three weeks. But it’s costly and complex. Gartner Research, for example, says that companies can spend more than 75% of their IT budget on maintaining their software infrastructure.
There’s another way, however. TrialStat is the industry’s first on demand EDC solution. It’s what we call clinical data solutions on demand – a hosted, modular and Web-based platform that removes the complexity, management and much of the cost of administering EDC software.
For our customers, who range from mid-sized CROs to large international pharmaceutical companies conducting trials in more than 15 countries, TrialStat enables them to do what they do best: And that’s clinical research – only faster, more accurately and easier.
