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Case Study:
Medical Optimization / Pharmaceuticals
Clinical Trials Analytics: From Hindsight to Insight
Major pharmaceutical company uses data analytics predictions of expected clinical trials duration to drive acquisition decisions
Challenge:
Investment in new molecules remains high risk due to unknown probability of success and duration of clinical trials
Due diligence for new molecules is a tedious and labor intensive work. The duration of the upcoming clinical trials strongly depends on the indication the molecule is supposed to address, the region in the world where patients have to be involved, the simultaneity of possibly similar trials already ongoing, the key opinion leaders recruiting the patients, and many more parameters. Despite the overall difficulty, however, the task remains highly deterministic: with the proper data, information can be crossed in order to provide the necessary statistics related to success/failure rates.
Solution:
Centralize multiple databases to produce a rapid, accurate, data-driven estimates of clinical trials probability of success
Teranalytics created an automated process to extract, transfer, load, and process large datasets and turn them into essential information:
- Developed an automated tool that connects to multiple databases via their API (both free subscription-based data sources)
- Automatically downloads and processes data, providing the statistics required (e.g., enrollment rates by clinical phases and conditions)
- Automatically generate visuals, providing a quick data comparison of various providers across time, trial phases, geographies, and more.
Results:
Replaced endless tactical discussions driven by an 8+ hour manual analysis with fast, confident data-driven strategic decisions supported by 3-minute automated readouts
With results available in almost real-time, the executive team of the pharmaceutical company could run multiple sensitivity and what-if scenarios within the same meeting, shortcutting iterative process that were taking weeks into a single working session with actionable decisions at the end.
- Rapid visibility into clinical trials data from multiple sources
- Holistic view on therapeutic area/indication for due diligence team
- Automatic report & statistics generation
- Easy insight via dynamic filters
- Easy insight via dynamic filters
Client Feedback:
“We are now able to quickly and confidently assess the risk of investing in new molecules, enabling us to evaluate several order of magnitudes more investment possibilities. It’s a game-changer for us.”
– Research Division Head –
