A “Real World-Data” startup called Datavant has partnered with large CRO Parexel to connect real world-data across all clinical trials to optimize results moving forward.
Who is Datavant?
A San Francisco-based venture dedicated to organizing and linking the world’s healthcare data. The company’s technology helps data owners manage the privacy, security, compliance, and trust required to enable safe data sharing. Ramaswamy, worth over $500 million, founded the venture in 2017 and they have since raised over $80 million.
It claims that hundreds of organizations use Datavant technology, from academic medical centers, industry sponsors to medical device companies as well as insurers and data aggregators. By protecting, matching and sharing health data Datavant supports a number of critical health data connectivity initiatives in multiple health industry verticals as real-world evidence becomes ever more important supporting the safety and effectiveness of drug therapies for example.
Partnership Value Proposition
Datavant and Parexel inked a partnership deal in 2018 to best the design and operations of clinical studies and the generation of real-world evidence. This near initiative the parties hope will take their efforts a step furthermore deeply integrating Datavant technologies and “real-world data” into the drug development process.
Parexel offers deep clinical expertise and four-pillared real-world data approach integrating data access, advanced technologies, data science, and clinical consulting knowledge. Parexel claims that based on a study they commissioned with the Economist Intelligence Unit they found that drugs developed using real-world data had a 21% higher likelihood of launch and real-world data studies resulted in reduced recruitment time. The report identified advanced data analytics—including data across established silos, as a key enabler to innovation in drug development and commercialization.
Call to Action: TrialSite News will monitor this deal for details—which studies will the two collaborate on—what therapeutic area and focus? We will report on these, unbiased, to our rapidly growing audience. Will this partnership add value? We will find out.