Farah Ahmad, CCO of Strategikon Pharma, said the company is creating a single platform that enables both sponsors and contract research organizations (CROs) to speak the same language.
The company’s tool – Clinical Maestro – integrates eight applications for Sponsors and CROs to manage clinical trial planning, budgeting, outsourcing, and vendor management tool.
“We like to think of it as all these parties are alone playing their music, and with the Maestro, it allows the music to come together in a symphony,” Ahmad told us.
As part of this, Strategikon Pharma yesterday announced the commercial release of Source, its sponsor edition module for automating outsourcing processes, as well as its provider (CRO) edition Core and Link for digital bid costing and third-party sourcing. According to the company, the release complements clinical study budgeting and scenario modeling engine, Portfolio.
“We have the vision of Clinical Maestro incorporating eight applications … and we are in the process of developing and finalizing those eight as part of our journey,” explained Ahmad.
“Clinical Maestro creates the common language by mapping activities to the lowest common denominator, finding that common ground and creating a digital standard,” she explained.
Importantly, the applications are dual – serving both sponsors and providers. “You cannot just provide tools and solutions for half of the industry,” Ahmad said. “In order for us to all march to the same tune and move the industry forward, the solution has to be two-sided, for providers and for sponsors.”
The next phase for the platform is a lead and monitor application currently in beta testing. Ahmad said sponsors will participate in this testing in February and a release is expected in the three months following.
Strategikon Pharma also has a vendor management application on the sponsor side that is functional, though not formally released, with some additional functions to be added, she explained.
The final application on the CRO side is called Data Trove, a tool that culminates data from the industry to create a benchmark, aiding providers in their planning and bidding process.
Slated to be released later this year, Ahmad noted that the tool “will only get more powerful as time goes on and as the industry uses Clinical Maestro.”
“We believe there is a change that can be brought forward to deliver over 75% in efficiencies,” she added. “We very much look forward to continuing this journey.”