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October 10, 2019updated 23 Dec 2019 12:05pm

Parexel signs data technology deal with Datavant

Biopharmaceutical services provider Parexel has entered a multi-year collaboration with healthcare data services firm Datavant to link real-world data across clinical trials.

Biopharmaceutical services provider Parexel has entered a multi-year collaboration with healthcare data services firm Datavant to link real-world data across clinical trials.

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2022: So far In Venture Capital

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Parexel will combine Datavant’s connectivity technology with standard data workflow for all of its studies. This will enable sponsors to streamline evidence generation via the connection of real-world data to their trial data.

The data connection can be made in the trial protocol or after the completion of a study.

Parexel CEO Jamie Macdonald said: “Across the industry, real-world evidence is becoming an essential component to evaluating the safety and effectiveness of drug therapies and ultimately to delivering therapeutic advances. However, one of the most significant barriers to generating real-world evidence is overcoming limitations of single data sources.

“Partnering with Datavant has provided Parexel the ability to link disparate data sets to drive the complex analyses necessary for providing innovative scientific and clinical data strategies.”

Datavant’s technology can be used to connect data across the patient journey, including electronic health records, claims, and diagnostics with other emerging sources, such as genomics, socioeconomic and behavioural data.

The connection between real-world data sources and other study data sources is intended to help biopharmaceutical customers generate and submit real-world evidence required for regulatory review.

The partnership will also provide Parexel with opportunities for collaborations with organisations using Datavant software, including academic medical centres, life sciences and medical device companies, insurers, data aggregators, and analytics companies.

Datavant co-founder and CEO Travis May said: “Parexel’s deep clinical expertise positions them well to navigate the planning necessary to include real-world data in the drug development process, and our join solution gives Parexel’s sponsors the flexibility to leverage the real-world data they need, whenever they need it, all while ensuring that patient privacy is protected.”

Related Companies

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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