By Clinical Informatics News Staff
October 22, 2013 | DrugDev, an interactive network and data sharing platform for over 80,000 clinical trial doctors in 93 countries has acquired CFS Clinical (CFS), the leading specialty provider focused on the business and financial management activities for clinical trials.
DrugDev and CFS’ combined infrastructure gives sponsors the ability to garner real–time feedback from Investigators during the feasibility stages of a trial, rapidly select the right Investigators who are best suited to run the trial, and finally engage with sites efficiently with high speed site activation and expedited payments through its industry leading global payment network.
In the immediate term, the combined capabilities create a powerful offering in finding, engaging and paying Investigators. These solutions will be provided both as a full service business process and as Software as a Service (SaaS) to pharmaceutical and CRO clients. CFS Clinical’s technology-enabled service platform supports DrugDev’s overall mission to make the lives of clinical trial Investigators simpler and easier, through standardization of their interactions with sponsors and CROs.
In the longer term, the acquisition is the first in a series that aims to bring a standardized, collaborative environment to the clinical trials process, making it easier for doctors and drug developers to engage with each other virtually, and therefore reducing the cost of drug development by eliminating labor intensive processes. The ‘virtual clinical trial’ space is currently highly fragmented, but is becoming more realistic with the development of cloud-based technologies that provide ‘building blocks’ for an effective virtual trial.