NEW YORK--(BUSINESS WIRE)--Medidata (NASDAQ:MDSO), the leading global provider of cloud-based technology and data analytics for clinical research, is pleased to announce that its unique technology collaboration with TESARO, Inc. was recognized as the 2017 “Clinical Partnership of the Year” at the second annual Clinical and Research Excellence (CARE) Awards.
An oncology-focused biopharmaceutical company and Medidata customer since 2013, TESARO worked closely with Medidata to provide feedback on new features to Medidata Balance®, a powerful randomization and trial supply management (RTSM) tool that is an integral part of the Medidata Clinical Cloud®. The software’s newest functionality enables users to pool clinical supply inventory across multiple trials at the same research site—decreasing costs, shortening timelines, and, ultimately, leading to better treatments for patients sooner.
Hosted by Informa’s Pharma Intelligence—the world’s leading provider of clinical and research intelligence and analysis, and home of leading brands such as Scrip Intelligence, In Vivo and the Pink Sheet—the CARE Awards celebrate excellence and innovation in the global life sciences industry and a continued commitment to improving health worldwide. A panel of esteemed judges, comprised of independent, senior industry experts from around the world, presented the top honor to Medidata and TESARO at the April 5 awards ceremony in Boston.
The CARE Awards judges said: “Together, Medidata and TESARO pioneered a cross-functional product development process and worked closely on the software blueprints to build Medidata Balance. This tool allows sponsors the ability to pool drug supply in trials, decrease cost on drug labeling, packaging, and shipping by sharing inventory across multiple trials. This project was a win-win for both companies, and the product has the potential to be adopted by many more organizations.”
The industry’s only fully configurable RTSM solution, Balance is unified with Medidata’s industry-leading electronic data capture (EDC), management and reporting system, Medidata Rave®. The combined solution reduces data reconciliation costs between EDC and IVRS/IWRS, and decreases data entry time by 35%. Now, with its site-pooling feature, Balance is providing even further value to its customers by increasing drug utilization efficiencies and streamlining drug assignment to save money, reduce waste and minimize supply outage. TESARO recently estimated 39% less package waste and a 34% reduction in shipping costs via the site level pooling feature.
Mike Capone, Medidata’s chief operating officer, said: "At a time when clinical R&D costs are climbing, the need for strong collaboration between key industry stakeholders has never been more paramount. Medidata is passionate about partnering with our customers to understand the unique challenges hindering their clinical research programs, and subsequently building novel solutions to alleviate those pain points and advance their scientific goals. Our work with TESARO is a shining example of the power of bringing together technological, operational and therapeutic expertise, and we are honored to accept this joint award."
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Medidata is reinventing global drug and medical device development by creating the industry's leading cloud-based solutions for clinical research. Through our advanced applications and intelligent data analytics, Medidata helps advance the scientific goals of life sciences customers worldwide, including nearly 800 global pharmaceutical companies, innovative biotech, diagnostic and device firms, leading academic medical centers, and contract research organizations.
The Medidata Clinical Cloud® brings a new level of quality and efficiency to clinical trials that empower our customers to make more informed decisions earlier and faster. Our unparalleled clinical trial data assets provide deep insights that pave the way for future growth. The Medidata Clinical Cloud is the primary technology solution powering clinical trials for 17 of the world's top 25 global pharmaceutical companies and is used by 16 of the top 20 medical device developers—from study design and planning through execution, management and reporting.