Covance, LabCorp’s drug development subsidiary, announced a partnership with Medable Inc., to accelerate the adoption of virtual clinical trials. Medable is focused on building a unified platform for decentralized clinical trial execution, enabling patient-generated data to drive clinical research, and precision, and predictive medicine.
LabCorp continues to move forward with its key priorities, which leverage the power of its uniquely combined capabilities across diagnostics and drug development. The priorities remain to succeed in oncology, integrate data and analytics, AI and digitalization across its business. LabCorp remains committed to beating the virus in the short term and to its long-term strategy.
LabCorp has seen a number of participants dropping out of ongoing studies as a result of the ongoing COVID-19 pandemic. Decentralized digital trials would provide the company a way to keep these programs on track during the coming months.
LabCorp estimates that about 70% to 80% of sites are not up and running currently for clinical trials. Covance has been investing to decentralize clinical trials including expanding their partnership to install patient service centers inside Walgreens locations to conduct diagnostics.
Covance’s agreement with Medable will allow its patient and site interface be powered by the company’s modular software platform, providing immediate access to applications that will allow patients to participate in decentralized clinical trials. The platform will also enable data and system interoperability, facilitate remote data collection and engagement between patients, sites, and clinical investigators.
Takeaway: Covance’s goal is to provide customers with the access, flexibility, and scale necessary to enable global decentralized studies, and to rapidly innovate in ways that improve the patient experience and trial efficiency.