Lokavant Launches Artificial Intelligence Clinical Trial Feasibility Solution
New solution provides a continual cycle of analysis throughout a trial to ensure feasibility.
Lokavant has announced the launch of an artificial intelligence (AI) clinical trial feasibility software solution, Spectrum. According to Lokavant, the solution is the first of its kind. Spectrum will allow study teams to predict, optimize, and control trial timelines and costs in real-time, enabling iterative feasibility analysis and mid-study course correction.1
“The industry needs novel approaches to clinical trial operations that match the innovation in clinical sciences, especially as trials grow increasingly complex, personalized, and specialized,” Rohit Nambisan, CEO and co-founder of Lokavant said in a press release. “Spectrum empowers teams to optimize research and manage costs, facilitating the swift delivery of the right therapies to the right patients.”
In May, Nambisan spoke with Applied Clinical Trials on a number of feasibility topics, including the use of AI.
Spectrum will enable study teams to conduct more accurate strategic and operational feasibility analysis at the start of a clinical trial, as well as mid-study assessments, powering a continual cycle of analysis, re-forecasting, and optimization. The solution also automatically incorporates ongoing financial forecasting without time-consuming manual intervention to accurately model budgets.
Additionally, the new solution can incorporate “causal AI,” a prescriptive form of AI that offers recommendations in real-time so study teams can take proactive remedial action before challenges within a trial arise. These recommendations also provide reliable, data-driven guidance to junior study staff.
“In minutes, Spectrum can run thousands of simulations to uncover the best recommendations based on customer priorities—and all in real-time for continuous remediation,” Aaron Mackey, PhD, senior vice president of AI and data science at Lokavant said in the press release. “Spectrum’s capabilities for trial planning optimization leave no stone unturned to provide accurate insights in half the time.”
This announcement of Spectrum comes just weeks after Lokavant expanded its advisory board to better drive the direction of AI utilization for feasibility.2 Additionally, Mackey, the former Covance executive, was introduced into his current role. The following industry veterans were added to the board:
- Jonathan Crowther, PhD, Head of Predictive Analytics at Pfizer
- Otis Johnson, PhD, MPA, Principal Consultant at Trial Equity
- Michelle Everill, CEO & Founder of Michelle Everill Coaching and former Senior Director, Head of Clinical Business Operations at Bristol Myers Squibb
“Clinical study feasibility is mission-critical, especially as trials become increasingly complex, personalized, diverse, and specialized with strict participation criteria,” Nambisan said in the press release. “I’m excited to work with Aaron and the new advisory team to incorporate their learnings into our clinical trial intelligence platform and study feasibility applications. Together, we can drive efficiencies in trial operations while accelerating clinical research.”
References
1. Lokavant Launches First AI Clinical Trial Feasibility Solution to Optimize Trials From Strategic Planning to Mid-Study Re-forecasting. News release. Lokavant. June 11, 2024. Accessed June 12, 2024. https://blog.lokavant.com/press/lokavant-launches-first-ai-clinical-trial-feasibility-solution
2. Lokavant Expands Team to Drive Strategic Direction of AI-Based Clinical Trial Feasibility Solution. News release. Lokavant. May 7, 2024. Accessed June 12, 2024. https://blog.lokavant.com/press/lokavant-expands-team-to-drive-strategic-direction-of-ai-based-clinical-trial-feasibility-solution
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