Clinical trial intelligence firm Lokavant will provide Japan’s CMIC with analytics support for studies under a new multi-year partnership.
The deal – financial terms of which were not disclosed – will see CMIC use Lokavant’s ‘Oversight’ monitoring and operational risk management platform for all the studies it runs on behalf of industry clients.
The platform – which uses an artificial intelligence technique called ‘machine learning’ – is designed to cope with the increasing amount of data generated during modern clinical trials.
According to Lokavant current processes “for identifying and managing risks in trials is still largely manual and often too slow to mitigate serious impacts.”
To try and address this the oversight system is designed to be proactive rather than reactive by using historical data to make predictions about potential future challenges to the smooth running of the trial, including both data issues and budget overruns.
Lokavant president Rohit Nambisan said the technology “will enable CMIC to predict and address trial risk.
“CMIC's leading clinical development expertise and scale make them a great partner for Lokavant, and together we are excited to shift the paradigm in clinical trial operations in APAC, the US, and globally."
The deal means the technology will be used in a significant number of studies as Tokyo-based CMIC claims to support more than 80% of new drug development in Japan.
Lokavant was founded in 2020 by Roivant Sciences as a data analytics and management provider for the contract research sector.
Shortly thereafter Lokavant entered into its first multi-year enterprise license agreement with Parexel.
The deal focused on using the platform to bolster the operational execution of clinical trials through improved real-time risk-based monitoring.