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CMIC and Lokavant enter into first phase of multi-year partnership to deploy predictive analytics platform for monitoring and management of clinical trials in the Asia-Pacific region
CMIC Co., Ltd. ("CMIC"), a leading Japanese Contract Research Organization (CRO), and Lokavant, a leading clinical trial intelligence company, today announced that they have entered into an agreement to leverage Lokavant's predictive analytics capabilities to support CMIC's clinical operations. Lokavant Oversight, a monitoring and operational risk management platform, will be deployed across CMIC studies through this strategic partnership.
CMIC was the first company to provide CRO services in Japan and has over 28 years of pharmaceutical development experience in the Asia-Pacific (APAC) region. More than 80% of new drug development in Japan is supported by CMIC Group. The agreement between CMIC and Lokavant represents one of the first predictive analytics partnerships for clinical trial operations in the growing APAC market.
"We are thrilled to be more proactive in study management and expand our global footprint by entering into this agreement to partner with Lokavant," said Yoshihito Kondo, Executive Vice President of Clinical Operation at CMIC. "This strategic relationship, centered around Lokavant's deep data science and predictive capabilities in trial execution, will ensure that CMIC continues to be a leader with a focus on technology and innovation."
As the number of data points collected in clinical trials has grown exponentially, managing trials has become increasingly difficult and inefficient. The process for identifying and managing risks in trials is still largely manual and often too slow to mitigate serious impacts. CMIC and Lokavant's partnership goes beyond traditional risk-based monitoring by deploying an end-to-end solution powered by Lokavant's historical operational data as well as CMIC's own data. This will equip CMIC to conduct next-generation risk-based monitoring that can predict data quality issues, study timeline delays, and budget overruns. By using historical data to predict future issues, CMIC clinical teams will be able to be proactive, not reactive, in mitigating issues and ultimately improving trial outcomes. Lokavant and CMIC will also co-develop data-driven metrics to track study performance across historical and ongoing CMIC studies, providing key insights to CMIC's 1,200+ clinical trial operators.
"Lokavant is excited to deploy our machine learning-driven applications, which will enable CMIC to predict and address trial risk," said Rohit Nambisan, President of Lokavant. "CMIC's leading clinical development expertise and scale make them a great partner for Lokavant, and together we are excited to shift the paradigm in clinical trial operations in APAC, the US, and globally."
About Lokavant Lokavant enables next-generation clinical trials through data-driven products, including its flagship product, Lokavant Oversight, a tech-enabled risk-based monitoring solution, and Lokavant Insight, a clinical operations benchmarking tool. Lokavant Oversight aggregates and delivers real-time data from disparate trial data sources, predicts issues during clinical development to mitigate trial risks and empowers monitoring teams by visualizing critical study data. Lokavant Insight empowers clinical teams to benchmark clinical trial performance and analyze vital indicators of trial success and failure. For more information, please visit www.lokavant.com.
About CMIC Group CMIC Group was founded in 1992 as the first Contract Research Organization (CRO) in Japan. Today CMIC Group is the largest clinical CRO in Japan with a global footprint, providing comprehensive services in drug development, clinical site management, clinical to commercial GMP manufacturing, regulatory consulting and contract sales & marketing solutions. CMIC Group helps pharmaceutical, biotech and medical device companies enter the Japanese market, conduct clinical trials in Asia and bridge drug development and manufacturing needs in the US, Europe, Japan and broader Asia. CMIC Group has over 7,000 employees and 25 sites globally.
SOURCE Lokavant