Lokavant launches data-powered study planning tool
Clinical intelligence firm Lokavant has rolled out a “data-powered” study planning tool that is designed to optimized drug studies.
The services are designed to empower clinical trial sponsors and contract research organizations (CROs) to accurately identify the right number, location, and mix of sites for key performance and diversity milestones, as well as other feasibility goals.
The service is built on information from more than 2,000 studies involving more than 14,000 investigators, 12,000 healthcare institutions, as well as real-world data (RWD) sources.
Andreas Matern, executive vice president of product development at Lokavant, “the new study planning technology is where clinical trials intersect with predictive analytics.
“With this new solution, our customers gain more precise insights about the potential performance of their clinical trials and sites before it is too late and too expensive to course correct.”
Cost savings
In tests Lokavant used five years of data on chronic obstructive pulmonary disease (COPD) to try and identify the most efficient and inefficient trial sites for future respiratory trials.
Subsequent analysis revealed that, by using the service, sponsors and CROs could reduce the number of sites needed for a study by 18% to 36% and still hit patient enrolment targets. The financial impact of which would be significant according to Lokavant.
“Given the average cost to activate sites regardless of patients accrued is $50,000 and the per-site cost of site monitoring – which accounts for about 14% of total clinical trial expenditures – optimizing site selection leads to significant cost and time savings.”
The approach is likely to be attractive to study planners according to Paradigm Health COO, Milind Kamkolkar, who said “Bringing greater rigor to the study planning process is critical to successful execution, especially given the high cost and lengthy timelines of trials.
“This solution is unique as it empowers study teams to predict the odds of completing a study within an allotted time frame and provides visibility into actionable next steps. In this way, Lokavant’s new study planning solution has the potential to dramatically accelerate and optimize trial execution.”
DepositPhotos/sdecoret