Oraclet has entered into an agreement to acquire ClearTrial, a provider of cloud-based Clinical Trial Operations (CTO) applications that make the planning, sourcing, and tracking of clinical projects and financial performance faster and more accurate. ClearTrial’s activity-based costing solutions use embedded intelligence based on deep industry expertise to help life sciences companies manage the rising costs and increasing complexities of bringing new therapies to market.
Biopharmaceutical and medical device companies are expected to significantly improve their ability to manage clinical trials across geographies, outsourcers, therapeutic areas and trial phases resulting in a better return on their R&D capital investments. “Biopharmaceutical, medical device and diagnostic companies, as well as contract research organizations (CROs), are facing increasing pressure to deliver clinical development projects on time and within budget,” said Neil de Crescenzo, senior vice president and general manager, Oracle Health Sciences. “Adding ClearTrial to the Oracle Health Sciences Cloud will help our customers streamline the clinical development process and help them bring therapies to market with greater predictability and at lower costs.”