Partnering opportunity

Cloud-based solution for the financial management of clinical trials

Summary

A German SME´s cloud-based platform simplifies and automates crucial tasks for sponsors, clinical research organisation and study sites e.g. payment and financial management of clinical trials. It is ready to be integrated with other clinical trial software. Implementation is fast, the solution offers a new level of transparency, simple interface - all resulting in safe of time and more efficiency. To above mentioned organisations they offer license, research or technical cooperation agreement.

Partner sought

They are looking for three types of partners and types of partnership: 1. Clients for their existing services: e.g. a study sponsor, CRO or study site which think that their clinical trials can benefit from a smarter site payment process. The German company offers to set-up a free system demo to evaluate how a client can benefit from its services. This could be realised in form of a license agreement. 2. Partners for co-development activities: for those who have ideas for improving trial processes but lack the technical resources. They could get involved in co-development projects by sharing their industry know-how and developing new projects together. The type of partnership sought in this case would be research cooperation agreement. 3. a technology provider for clinical trials (e.g. eCRF / EDC = Electronic Data Capture), CTMS systems or related fields who think that services are complementary and their mutual clients can benefit from better interoperability between their services in order to leverage individual strengths. Here a strategic technical cooperation agreement is envisaged.

Description

Financial workflows in clinical trials involve several parties in various countries, tax and currency regions. All parties involved have to deal with many manual tasks, diverse data sources and non-standardized processes. This causes time-consuming, error-prone and inefficient processes that have a negative impact on the overall study success. The main reason for investigator churn and discontent in clinical trials is directly related to burdensome administrative tasks. This deters study personnel from their core activities and may cause unnecessary study delays. A German SME provides a cloud-based solution for the financial management of clinical trials. Its technology automates payments to study sites, research participants and enables data-driven insights into global trial budgets. The company helps sponsors, CROs (clinical research organisation) and sites to accelerate trial operations. To fully streamline operational workflows the solution is ready to be integrated with other clinical trial software solutions including eCRF (electronic case report form) and CTMS (clinical trial management system). The German company provides resources and know-how to guide its clients towards digitizing processes and creating an integrated IT environment to deliver maximum value. Data privacy lies at the heart of the German company. All critical data is stored and processed on servers in the European Union. Since market launch the company has helped users in over 13 countries to eliminate administrative burdens and accelerate clinical trial operations. Apart from the above described, the SME helps their clients to address challenges related to international tax and financial regulation in clinical trials through their consulting services. They are ISO 27001 certified. The German company is looking for study sponsors, CRO or study sites in the field of life sciences for license, technical cooperation and/or research cooperation agreement.

Advantages and innovations

In comparison to competitors the SME is the only European-based technology provider for clinical trial payments. The company processes client data on European servers only and ensures maximum data protection according to General Data Protection Regulation (GDPR). Furthermore, the system has been developed together with clients and is based on cutting-edge design principles. This greatly reduces training hours and guarantees fast onboarding times. - Efficient processes allow automated workflows which result in safe of time for the clients - Fast implementation: the solution easily integrates with existing IT and process environment - Ad-hoc insights: clients can instantly know where their clinical trial is heading financially - Simple interface: intuitive user interfaces require minimum training effort and contribute to user satisfaction - Full transparency: Global study dashboards and HCP (healthcare professionals) -compliant reports offer a new level of transparency The core assets of the company consist of strong expertise in technology, process design and finance.

Development stage

Already on the market

Intellectual Property Rights (IPR)

Design Rights


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