Phesi, a clinical development analytics provider, has rolled out a new AI-based platform it claims will save customers an average of $7 million per phase 3 trial.
The platform, dubbed Trial Accelerator, leverages clinical study data to “deliver a comprehensive and consistent view of the patient throughout the process,” allowing study teams to construct improved trials with a higher degree of success, the company said in an Oct. 18 release. Phesi’s partners will receive access to real-world data by creating digital patient profiles and digital control arms, the company added.
In addition to the projected savings, the platform can reduce the risk of avoidable protocol amendments. Phesi cited industry data that indicate phase 3 protocols undergo an average of 3.3 “substantial” amendments that can cost $500,000 per amendment and add just over five months of additional implementation time.
“After years of upheaval from COVID-19 and with global events having huge impact on clinical development, being able to predict outcomes and minimize both risk and impact on patients is critical,” Phesi CEO Gen Li, Ph.D., said in the release. “The pandemic has also shown us what the biopharmaceutical industry is capable of when we work at speed. We need to replicate this approach in other areas of development and commercialization through the use of data analytics and technology.”
The company has also been focused on addressing the lack of diversity in clinical trials. In June, Phesi released an analysis of clinical studies conducted in the past 15 years. It found that of almost 590,000 patients participating in almost 6,400 U.S.-recruiting cancer trials, 48% of those studies had no Hispanic or Latin American representation, while 42% did not include a single Black patient.