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.
"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", stated 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."
"Clinical trials are being planned and managed with unprecedented rigor and specificity, given the industry's trend toward globalization of R&D and the continued growth in outsourcing", stated Mike Soenen, chief executive officer, ClearTrial. "As the leading provider of technology and applications for the life sciences and healthcare industries, Oracle is the next logical step in our ability to best service our customers and extend our solution's reach."
Terms of the agreement were not disclosed.