Labcorp and its CRO unit Covance, already striving toward a virtual trial platform, are taking another step into the next generation of clinical studies after penning a new pact with ConcertAI.
The medical testing giant, which has owned Covance for around five years, will use artificial intelligence and real-world data (RWD) specialist ConcertAI specifically to help boost its precision oncology research.
“The companies will work together to launch clinical studies in ways that minimize the burden on physician practices, drive faster patient recruitment, maximize patient retention and ensure equitable access to research as a care option,” the pair said in a statement.
Labcorp will do that by using the company’s suite of software-as-a-service (SaaS) offerings for clinical trial design, protocol optimization, site selection and study execution.
The idea is to allow scientists from Labcorp access to better data and thus make better decisions about their cancer trials.
“With Labcorp, we are building an advanced network, AI technologies and SaaS solutions to further advance the industry’s goals for diversity and digital enablement in clinical development services, especially in oncology,” said Jeff Elton, Ph.D., CEO of ConcertAI. “As a leading RWD and SaaS AI solutions company for evidence generation, ConcertAI is committed to advancing precision oncology in partnership with industry leaders.”
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This follows a long line of CROs and biopharmas using AI, RWD and machine learning to help bolster their understanding and generation of data in and around clinical trials as well as to fight back against the challenges of time, money, boosting diversity, the typical problems of retention and recruitment, and getting better shots on goal.
These are all doubly important in cancer, which has a lot of money and high expectation riding on trials for the disease.
“Oncology is highly complex, with hundreds of molecular targets and factors across solid tumors and hematological malignancies, so the need is great for diversity in cancer trials,” said Prasanth Reddy, M.D., senior vice president and head of oncology at Labcorp.
“Labcorp Drug Development, which supports more than 50% of all oncology clinical trials globally, combined with ConcertAI’s high-depth data and AI technologies, is a powerful combination to optimize trial design, improve patient access, and increase efficiency of oncology trials to bring new therapeutic options to patients who need them most.”