Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the pharma sector, to identify innovative solutions for you. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, you will be able to discover 5 promising clinical trial solutions.
Heat Map: 5 Top Clinical Trial Solutions
Using our StartUs Insights Discovery Platform, covering 1.379.000+ startups & scaleups globally, we looked at innovation in the field of clinical research, trials, and studies. For this research, we identified 273 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and relevance of technology, among others. Depending on your specific criteria, the top picks might look entirely different.
The Global Startup Heat Map below highlights 5 startups & scaleups developing innovative clinical trial solutions. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 273 companies we analyzed for this specific topic.
Koneksa Health – Real-World Clinical Data Platform
Technologies such as biometric devices, artificial intelligence (AI), advanced analytics, wearables, and cloud-based management significantly improve clinical trials. The collection and analysis of accurate clinical trial data are vital for pharma research and development (R&D) to discover and distribute new treatments. For example, moving traditional data collection to digital platforms helps streamline the clinical trial process and also improves patient adherence to the trial process.
Danish startup Koneksa Health builds Koneksa Compare, a platform to capture, monitor, and analyze real-world patient-generated data and outcomes in clinical trials. The startup offers support for remote biometric devices that frequently capture data, even outside the confinement period. Koneksa’s electronic clinical outcome assessments (eCOAs) enable pharma R&D departments to improve the reliability of patient-reported data. The startup’s dashboards, reminders, and flexible platform ensure the appropriate use and compliance of clinical trials data.
Trials.ai – Clinical Trials Design Platform
Some key challenges hindering clinical trials in order to be successful include compliance with complex regulations and design requirements. That is why R&D teams are constantly seeking the most optimal design for a clinical study to ensure that all stakeholders, from patients to regulators, are able to easily participate in a successful outcome. A well-designed clinical trial is also essential to ensure that costs remain within the budget. This encourages startups to devise technology-enabled designs for clinical trials.
Trials.ai is a US-based startup developing Artificial Intelligence-based smart protocol technology to better design clinical trials. The Trials.ai platform applies machine learning algorithms to a large number of documents in order to optimize clinical trial protocols. The startup’s Smart Protocol Builder enables targeted training and tuning of clinical trial ontology (CTO) thereby improving the precision of the study. The end result is a patient-centric clinical trial design that optimizes time, costs, and any risks involved.
PHARMASEAL – Clinical Trials Management Platform
After collecting data and designing the appropriate approach for the trial, clinical research organizations (CRO) further need to successfully manage the entire study. Emerging healthcare and pharma technology startups are working to aggregate all relevant clinical trial management information in a single platform. This includes the consolidation of clinical trial management systems (CTMS) and the electronic trial master file (eTMF).
British clinical trial management startup PHARMASEAL implements advanced automation to build and operate an integrated enterprise platform that allows biopharmaceutical and medical device companies to manage their clinical trials effectively. The startup’s Engility trial management system is a collaborative, scalable, and cloud-based platform that combines CTMS and eTMF. Engility’s unified trial management aggregates information about the study, patients, contracts, payments, documentation, and monitoring to increase the productivity and efficiency of clinical trials.
ConsilX – Blockchain-Powered Patient Management
The final aspect of a successful clinical trial involves continuous and reliable patient monitoring, engagement, and management. This includes obtaining consent from patients and enrolling them for the trial, engaging with patients throughout the study, as well as ensuring the supply of the tools or devices needed in the clinical trial. Further, the trend of remote monitoring and engagement encourages CRO teams to manage trials digitally. To this end, technology startups are developing secure digital tools, such as blockchain ledgers, to streamline clinical trials.
Singapore-based startup ConsilX offers LifeLedger, a blockchain-based patient data, and event management platform for clinical trials. LifeLedger provides regulatory compliance and data security by event-tracking & time-stamping patient activity as well as encrypting data storage. The startup’s smart contracts also enable managing cryptographic patient identities and enforce rules management for regulatory compliance. ConsilX’s blockchain-based platform connects all the participants and systems of a clinical trial to create a unified trial management system thus making it less prone to errors and more efficient
Halo Health – Patient Engagement Model
Patient engagement is one of the most important aspects of clinical trials. Currently, pharma and biotech companies spend a considerable amount of money to manage patients. The challenges here involve patient recruitment and retention, as a higher number of dropouts may cause the clinical study to fail. This drives CRO and clinical R&D teams to implement patient-centric approaches in order to reduce the burden on patients and engage with them more effectively – all the way to the successful completion of the trial.
Halo Health is a US-based startup enabling patient-centric smart clinical trials as a means to reduce patient and trial site burdens. The startup’s patient engagement model allows clinical trial participants to minimize their visit to trial sites and adhere to the medication schedules. Halo’s solution further reduces the complexities of the clinical trial by allowing patients to receive round-the-clock assistance and enjoy some symptom-free days (SFD).
What About The Other 268 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence and enable you to achieve your goals faster. The 5 clinical trial solutions showcased above are promising examples out of 273 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.