Centerphase Solutions Launches New Clinical Trials Business Model
Centerphase (Upper Saddle River, NJ) has entered into a collaboration with Mayo Clinic to speed the introduction of new medical treatments developed by the biopharmaceutical industry. The Company address the root causes historically plaguing the clinical trials process: the lack of a systematic, structured approach for evaluating and optimizing protocols and the tremendous burdens associated with trial start-up administration.
Clinical testing of new medical therapies is an arduous process, which is difficult to plan, costly and habitually delayed. The industry spends over $30 billion a year on clinical trials, yet nearly 90% of trials fail to meet their timelines or budgets. The result has been longer delivery times and great disappointment among patients researchers and clinical trial sponsors.
As part of the new agreement, Mayo Clinic will access its Enterprise Data Trust (EDT) to provide Centerphase de-identified patient information to perform protocol review and optimization and help identify Mayo patients that potentially qualify for enrollment in a specific clinical trial. Mayo Clinic’s Enterprise Data Trust (EDT) is a secure collection of data on over 7 million patients from health records, education, research and administrative systems, organized to support information retrieval, business intelligence, and high-level decision-making.
“Centerphase will benefit from the intensive work Mayo has invested over the years in the development of a state of the art patient record health information system. This system, the EDT, will be leveraged by Mayo informatics experts who will conduct a rapid database review of potential Mayo patients qualifying for enrolment into clinical trials” says Jean-Pierre Kocher, PhD, Chair of the Division of Biomedical Statistics and Informatics.
Mayo Clinic is a minority equity owner in the new company.
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