Fortrea Establishes Industry Partnership with Veeva and Advarra to Streamline Patient and Site Clinical Trial Experience
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Insights
The strategic partnership between Fortrea, Veeva Systems Inc. and Advarra is poised to streamline clinical trial processes, which can lead to a reduction in time-to-market for new drugs and therapies. This efficiency gain could potentially increase the profitability of involved companies by optimizing trial execution and patient recruitment—a critical factor in the costly and time-intensive phase of drug development. The integration of technologies and expertise from these companies may create a competitive advantage and attract more clients to Fortrea's services, which could be reflected in the company's financial performance and, consequently, its stock valuation.
From a medical research perspective, the collaboration is significant as it addresses a fundamental bottleneck in clinical trials: administrative efficiency and patient engagement. By simplifying the patient's journey and centralizing study documents, the partnership could lead to higher protocol adherence and reduced dropout rates, ultimately enhancing the quality and reliability of trial data. This improved data integrity is crucial for regulatory approvals and can reduce the risk of costly trial delays or failures due to non-compliance or insufficient data quality.
The integration of cloud-based solutions and mobile applications in clinical trials represents a significant advancement in healthcare technology. By leveraging Veeva's development cloud strategy and Advarra's Longboat solution, the partnership is set to deliver a user-friendly platform that could become an industry standard, potentially opening up new markets for these technologies. The emphasis on interoperability and user experience is aligned with broader industry trends towards digital transformation in healthcare, which can drive growth for technology providers and CROs alike.
Companies partner to provide patients and sites with easy access to study information in one integrated solution
DURHAM, N.C., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced an industry partnership with founding members Veeva Systems Inc., a leading provider of industry cloud solutions for the global life sciences industry, and Advarra, a leading provider of clinical research technology for clinical research investigator sites and sponsors, to deliver an integrated patient- and site-centric solution that streamlines the clinical trial experience.
In an industry faced with complex challenges to clinical trial execution, Fortrea is establishing an alliance of industry partners—beginning with founding members, Veeva and Advarra—to tackle some of these challenges head-on. Many sites are burdened by administrative operations that have multiple, complex technologies with limited interoperability. This impacts their ability to focus on what matters most—the patients—and improving their recruitment and experience participating in clinical studies.
Fortrea, Veeva and Advarra are partnering to offer a seamless, unified technology solution that integrates best-in-class technologies and leverages Fortrea’s process expertise. This will help ease the administrative burden for patients and sites and increase the accessibility of clinical trials for the public.
“We heard from our Site Advisory Board that the multitude of technologies used on a study is one of their greatest challenges,” said Fortrea Chief Operating Officer and President of Clinical Services Mark Morais. “Working with industry-leading partners and founding members, Veeva and Advarra, we’re taking action to remove complexities so we can address the pain points of sites and patients and make a difference. We are leveraging our unique vantage point in the industry that enables us to layer our expertise over the tech and data ecosystems from best-in-class partners—adding to our alliance as we go—to dramatically simplify the experience for patients, sites and sponsors.”
For sites, the partnership is set to deliver:
- a cloud-based, simplified sign-on experience for Fortrea-run studies
- access to study technologies through a single dashboard
- a unified environment with a single repository for study documents and records
For patients, the solution is being designed to offer:
- easy-to-access, step-by-step, visit-by-visit support and education throughout a patient’s trial journey
- a simplified user experience through a single platform
- self-referral functionality to search and find studies in their disease area of interest
- ongoing patient support and education via an online portal or mobile app
- a simplified mobile and web application for consenting and responding to outcome surveys
“Veeva is helping to advance clinical trials with connected applications that reduce the burden of participating for patients, streamline execution for research sites and increase transparency for sponsors,” said Jim Reilly, vice president, Veeva Development Cloud Strategy. “Extending our partnership with Fortrea to deliver Veeva Clinical Platform applications will meet the unique needs of patients, sites and sponsors while significantly improving study data quality and collaboration with sites.”
“Advarra’s mission is to break the silos that impede clinical research, so we are excited to provide our Longboat solution and IRB services as part of this innovative and collaborative partnership aimed at reducing site and patient burden,” said Elisa Cascade, chief product officer at Advarra. “By leveraging our Longboat solution, Fortrea will deliver a reimagined clinical research experience that will improve both protocol compliance and site and patient engagement throughout the clinical trial process.”
Learn more about how Fortrea is driving healthcare innovation throughout the world at Fortrea.com. For more information on the technology platforms, visit Veeva Clinical Platform and Advarra Longboat.
About Fortrea
Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development and patient access solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients in need. Fortrea provides phase I-IV clinical trial management, clinical pharmacology, differentiated technology-enabled trial solutions and post-approval services. Fortrea’s solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team of about 19,000 people working in more than 90 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter) @Fortrea.
Fortrea Contacts:
Fortrea Media: Galen Wilson – 703-298-0802, media@fortrea.com
Fortrea Media: Kate Dillon – 646-818-9115, kdillon@prosek.com
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