UK healthcare company looking to partner with pharmaceutical companies to increase the efficacy of clinical trials under a license agreement
The UK SME is a healthcare and life science company. It has developed two solutions to help pharmaceutical companies and hospitals improve the efficacy of their trials. Their first solution helps to quickly identify patients for clinical trials. The second one is an app used at the point of care to enable patients to fully understand and manage their condition. The UK company is looking to license its product to pharmaceutical companies and hospitals under a license agreement.
The UK company found out that in 20% of clinical trials, no patients are enrolled, 80% are delayed and over 50% suffer from protocol amendments. This costs pharma companies billions of dollars annually. The company is looking to work with pharmaceutical companies worldwide to help them improve the predictability and improve the timelines for clinical trials. Regarding their second product, the company found out from their trials in the USA that their application is especially good when helping with clinical trials. The company would also like to partner with hospitals internationally who would like to increase the efficacy of their trials. Benefiting from the UK company's solutions, hospitals could save time on patient recruitment and would be able to participate in cutting-edge industry sponsored trials. Finally, the UK company would like to reach out to doctors, physicians, nurses and healthcare professionals internationally as their second solution can help patients to understand their conditions. Their app can help alleviate the strain on primary care, reduce the number of hospitalisations, increase general practitioners and healthcare professionals' productivity and decrease hospital re-admissions. The cooperation is envisaged under a licensing agreement.
The company is headquartered in Mumbai but with offices in Philadelphia, USA, and London, UK. 1. The first solution that the UK company has developed is an identification system which quickly identifies patients for clinical trials. Their system works by interrogating a healthcare systems’ electronic health records. The development of innovative medicines is a long and costly process. - It is estimated that the cost of bringing a new drug to market il os $1.4 billion over 12 years. - It can cost pharmaceutical companies up to $8 million a day when drugs are delayed. It has been established that half of these delays are cause by slow recruitment. - Usually 3.5 protocol amendments are required for Phase III trial, each protocol amendment cost approximately $450,000. - Almost half of the sites miss their enrolment target for phase 2 or 3 studies. This usually doubles the time originally scheduled to meet enrolment levels. The company’s solution works towards saving time and money for the drug development process so that innovative medicines get to patients and physicians quicker. It is already in use in over 20 countries and their solution delivers radical efficiency savings to key clinical trials processes via high-technology, big data informatics solutions for health data. 2. The second product that the company has designed is a healthcare mobile and desktop application. It is currently trialled in the USA. The application is designed by clinicians for clinicians to be used at the point of care to engage patients in a meaningful conversation about their condition and treatment. On the application you can upload a deck; each deck is created in a well-known physician category and includes: • Medical illustrations • Highly Visual Infographics • The ability to record the visit to be reviewed or shown to care providers as a video at home via a secure patient portal. Through the application, the care provider consultation can be recorded along with the graphics and compiled as a video which is sent to the patient so the patient can play back the doctor’s instructions to better understand their responsibilities. The doctor can add notes to the illustration, do’s and don’ts, meal plans, exercises etc. and personalise it to each patient’s requirements. Healthcare professionals typically have just 11 minutes to spend with a patient in an office visit; and just 49 seconds to tell patients what they need to know about taking a new medication. Add to that the fact that millions of adults are unable to process and understand basic health information, it’s no surprise that a mere 10% of what a patient is told at the point of care is recalled accurately. The company’s application was designed to change that dynamic. A lack of patient understanding leads directly to medical non-adherence in the UK. Patient non-adherence is draining £500 million a year from the NHS. Treatment failure caused by poor medication adherence leads to frequent re-hospitalisations, poor healthcare outcomes and increased health care costs. The UK company’s application helps in patient education and understanding, patient satisfaction and thus adherence. The company has conducted a number of trials in the USA using their application. They know from the trial data that their application significantly improved patient adherence, vastly improves patient education and means fewer hospital re-admissions, thus generating vast savings for the health service.
Advantages and innovations
The UK company believes that communication is one of the foundations of good healthcare. The main benefits of their first solution are that: - It will easily allow pharma companies & hospitals to change the protocol of a trial without losing any data. - The identification of 100s of patients for complex trials takes minutes as opposed to weeks or months. - It allows patient populations in hospitals to be matched against a clinical trial protocol by pharma companies. This increases the probability of receiving a trial and ensures that the site selection step gives an accurate indication of relevant patient numbers, thus reducing trial feasibility evaluation time. The benefits of their second solution are that it: - Improves healthcare professional’s productivity: to clearly communicate to the patient. The client’s application has been shown in clinical experience trials to reduce education time by >50%. - Improves the patient experience: The duration of the visit is not nearly as important to patients as the quality of time spent face-to-face with the physician. The client’s application has been shown to improve engagement to produce higher patient satisfaction and clinical experience scores. - Increases patient engagement: Many patients do not understand or remember some physician instructions leading to poor compliance and adherence. The client’s application utilises highly visual infographics to assist learning to improve understanding and compliance of what action steps are required. - Improves patient outcomes: the client’s application has been proven to improve the physician’s ability to effectively communicate with their patient in an intimate education encounter which builds trust. - Improves patient adherence: patient beliefs about medication are powerful predictors of adherence. By engaging patients in the treatment discussion patients can be more empowered to comply with instructions.
Already on the market
Intellectual Property Rights (IPR)
Register your interest
How it works
- Tell us about yourself
- We’ll discuss with you
- We put the right partners in touch
EEN help you find the right partner, rather than you going it alone.
Our role is to review and collate the most suitable submissions, and then send them to the client who posted the opportunity. We consult with you, and the client, to make the process professional and easy.
These are live opportunities. Your registration of interest on the site is just like a professional approach to a business at a networking event. To stand the best chance of success, make your submission really sing. Sell why the client who posted the opportunity should work with you. Excite them. Ask questions. Try and avoid copy and pasting words from elsewhere.
Once the client has chosen their partner, we'll introduce them over email and keep in touch with both parties to see how it's going. Sometimes things progress quickly. Sometimes because of changing priorities for either party, things progress slowly, but you never know - your next big business break could start right here.
First we need to check you’re human.
Thank you for verifying your email. We have sent you a confirmation email containing a 6 digit verification code to unlock the form below