Shyft Analytics is a Medidata Solutions company, which this week has signed a strategic partnership agreement with Parexel, a global biopharmaceutical services provider.
Michelle Hoiseth, chief data officer, Parexel, said the new collaboration with Shyft – as well as its recent partnership with Datavant, which enhances the company’s data-linking capabilities – is a “significant step forward” in its approach to help sponsors leverage real-world data.
“The availability of real-world data is growing, however, innovative analytics methods and technology are needed in order gain insights from that data,” she told us.
“Leveraging Shyft’s Quantum RWE platform significantly advances our dynamic modeling capability and reduces the time to analyses in our healthcare data-based strategy, design, and modeling.”
With Shyft’s technology, Parexel will be able to perform at-scale analyses, including cohort modeling, trial feasibility assessment, and large-scale observational studies – “research that will have broad impact across the drug development and market access spectrum,” said Hoiseth.
According to a study commissioned by Parexel and published by the Economist Intelligence Unit (EIU), the likelihood of new product launch increased by 21% for trials using real-world data.