It is estimated that bringing a new drug to market costs more than $2 billion dollars, and clinical trials alone can take nearly 10 years and eat up 70% of the overall drug development costs.
To streamline this process, many biotech/pharma companies (also called "sponsors") outsource clinical trials to Contract Research Organizations (CROs). However, CROs typically operate on a fee-for-service model that guarantees payment. Consequently, the responsibility of overseeing CROs, vendors, and trial sites to ensure swift completion of trials lies with the sponsor's Clinical Operations team.
We are a team of MIT engineers, data scientists, and former healthcare professionals who have experienced the pain of clinical trials first-hand. We are building an engagement tool for biotech/pharma companies to create a shared reality with their CROs, vendors, and sites using data for deeper discussions, ultimately to bring novel treatments to patients more quickly.