Oracle has announced that it has entered into an agreement to acquire ClearTrial, a leading 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.
The combination integrates best-in-class functionality from ClearTrial with leading clinical trial execution and analytics capabilities from Oracle, creating the most comprehensive closed-loop clinical trial management offering from planning to payment.
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.
Terms of the agreement were not disclosed. More information on this announcement can be found on Oracle’s Web site.
“Biopharmaceutical, medical device and diagnostic companies, as well as contract research organisations (CROs), are facing increasing pressure to deliver clinical development projects on time and within budget,” says Neil de Crescenzo, senior VP and GM, 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.”