Medable and Masimo Partner to Bring Best-in-Class Wearable Devices to Clinical Research, Capturing Rich Subjective and Objective Data

Rhea-AI Summary

Medable and Masimo have partnered to enhance clinical trials with medical-grade wearable devices. Masimo’s MightySat® Rx pulse oximeter, integrated into Medable’s platform, will be used in eight major oncology studies across 25 countries, involving over 3,000 patients. The partnership aims to improve patient participation and data quality in trials by reducing travel burdens for patients and leveraging both subjective and objective data. The collaboration is expected to yield faster enrollment and significant cost reductions in trials, with decentralized trials showing a potential ROI of $10M to $39M for Phase II and III trials.

Positive

• Medable and Masimo's partnership aims to improve clinical trial participation and data quality.
• Integration of Masimo's MightySat® Rx pulse oximeter in eight oncology studies across 25 countries.
• The partnership involves over 3,000 patients, reducing the need for travel to trial sites.
• Medable’s platform enables both subjective and objective data capture, enhancing data analysis.
• Decentralized trials can yield a net financial benefit of 5 to 13 times for Phase II and III trials.
• Impressive returns on investment: $10M ROI for Phase II and $39M ROI for Phase III trials.
• Increased trial participation with 200% faster enrollment and 50% cost reductions.
• Medable's platform serves over one million patients globally, supporting over 300 trials in 60 countries.

Negative

• The press release does not specify immediate financial benefits or revenue forecasts from the partnership.

Insights

Medical Research Analyst

Medable's partnership with Masimo is a significant development in the field of clinical trials, particularly in oncology. The integration of Masimo’s MightySat® Rx pulse oximeter into Medable’s platform for clinical trials can streamline the process and improve data accuracy. The use of wearables allows for continuous monitoring of patients, reducing the need for frequent visits to clinical sites, which can be especially burdensome for very sick patients.

This collaboration can lead to increased patient participation in clinical trials, as it makes the process less intrusive and more accessible. More robust and reliable data can be gathered through both subjective inputs (via Medable’s eCOA+ solution) and objective data from Masimo’s sensors, leading to potentially quicker and more accurate trial results.

Benefits: Improved data quality, reduced patient burden, increased participation in clinical trials.

Drawbacks: Reliance on the technology’s accuracy and patient compliance with wearable usage.

Overall, this partnership combines the expertise of two industry leaders, promising significant advancements in clinical research methodologies.

Financial Analyst

The partnership between Medable and Masimo has positive financial implications for both companies. Medable’s use of Masimo’s technology can potentially lead to faster clinical trial enrollment and reduced costs, as evidenced by their reported results of 200% faster enrollment and 50% cost reductions. These efficiency gains can translate to substantial financial benefits, especially in the costly and time-consuming domain of oncology trials.

Additionally, the expanded use of Masimo's wearables in clinical trials can boost Masimo’s market presence and could lead to increased revenue streams from the healthcare sector. For investors, this partnership signifies a strategic move that could enhance both companies' bottom lines.

Short-term implications: Immediate cost savings and faster trial completions.

Long-term implications: Sustained financial growth from increased adoption of decentralized and hybrid trial models.

Market Research Analyst

This collaboration addresses a key trend in decentralized clinical trials, which have gained traction recently due to their potential to streamline operations and reduce costs. Medable’s platform, enhanced by Masimo’s wearable technology, supports the shift towards more patient-centric approaches, which is important in the competitive field of clinical research.

The market potential for such technologies is substantial, with the increasing demand for remote monitoring solutions and the broader adoption of digital health tools. Medable's platform, already employed in over 300 trials globally, showcases the scalability and effectiveness of integrating wearables in clinical research.

Market insights: Rising adoption of decentralized trial models, increased demand for wearables in healthcare research.

This partnership can drive further innovations and set a benchmark for future collaborations in the clinical trial sector.

Partnership enables deeper evidence generation in clinical trials; early success in eight big-pharma-sponsored oncology studies

PALO ALTO, Calif.--(BUSINESS WIRE)-- Medable Inc., the leading technology provider for modern clinical trials, is partnering with industry leader Masimo (NASDAQ: MASI) to bring best-in-class medical-grade wearable devices to clinical research. Masimo’s award-winning pulse oximeter technology has been widely trusted by clinicians for over 25 years to monitor more than 200 million patients each year and is now enabling more patients to participate in clinical trials without the burdens of ongoing trips to the trial site for routine testing.

Featured: Medable platform and Masimo pulse oximeter (Photo: Business Wire)

Medable has integrated Masimo’s MightySat^® Rx pulse oximeter into its evidence-generation platform for eight big-pharma-sponsored clinical trials spanning 25 countries including over 3,000 patients across two oncology indications: lung and breast cancer. The device integration eliminates significant travel burdens from often very sick patients while empowering them to participate in potentially lifesaving clinical trials. With this partnership, Medable also enables both subjective data capture – via humans through Medable’s eCOA+ solution – and objective data capture via Masimo’s connected sensors for multifaceted, deeper data analysis in trials.

“Medable has always been a leader in digital and decentralized clinical trials, so we are excited to work with a forward-thinking organization with the ambition and ability to transform research,” said Dr. Daniel Cantillon, Chief Medical Officer at Masimo. “Clinical trials require top-in-class accuracy and data quality both on-site and off-site from clinical offices. Medable is solving this problem through its advocacy and by empowering more patients to participate in research. And, Medable’s flexible platform enables scalability and data aggregation for a holistic approach.”

Medable selected Masimo for its unparalleled reputation and unique Signal Extraction Technology^® that delivers accurate readings even in challenging conditions, such as patient motion or low perfusion.

“Masimo’s SET^® pulse oximetry is sensitive enough to capture key vitals on the very ill like cancer patients, plus it works on all skin tones, all ages, and is easy to use,” said Musaddiq Khan, Medable’s Vice President of Digital Outcomes and TA Strategy. “The Masimo team is terrific, and we look forward to long-term, collaboration so we can leverage more of their novel wearables to improve data quality and enable patients to participate in trials with less burden.”

Currently, 20% of trials leveraging Medable’s evidence generation platform include a wearable device, and 35% of those are in oncology.

Medable, which ranked in the top 8% of software companies on the 2023 Inc. 5000, has deployed its software-as-a-service platform in more than 300 decentralized and hybrid clinical trials in 60 countries, serving more than one million patients and research participants globally. Customers have achieved impressive results – including 200 percent faster enrollment and 50 percent cost reductions. A Tufts Center for the Study of Drug Development study shows that, on average, decentralized trials can achieve net financial benefits from five to 13 times for Phase II and Phase III trials, equating to roughly $10 million ROI and $39 million ROI for an investment on average of $500K in Phase II and $1.5M in Phase III trials, respectively.

To learn more about wearable evidence generation and how Medable is uniquely supporting oncology research, visit booth # 35165 at the American Society of Clinical Oncology (ASCO) annual meeting (May 31-June 4) in Chicago, IL. Or book a meeting here (info.medable.com/ASCO-meetings).

About Medable

Medable is on a mission to get effective therapies to people faster. Its digital clinical trials platform enhances speed, scale, and patient access in clinical research, accelerating medicines for thousands of conditions without treatment or cure. Named a Leader in the industry by Everest Group and awarded Best Digital Health Solution by the Galien Foundation, Medable’s platform has been deployed in more than 300 trials in 60 countries and 120 languages, serving more than one million patients globally. Medable is a privately held, venture-backed company headquartered in Palo Alto, California, and ranked #398 on the Inc. 5000 in 2023.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529956321/en/

Lisa Barbadora, Barbadora INK for Medable

+1 (610) 420-3413

lbarbadora@barbadoraink.com / media@medable.com

Source: Medable Inc.

FAQ

What is the Medable and Masimo partnership about?

The partnership aims to bring Masimo's wearable devices to clinical research, improving patient participation and data quality.

Which device is being integrated into Medable's platform?

Masimo’s MightySat® Rx pulse oximeter is being integrated into Medable’s evidence-generation platform.

How many oncology studies are involved in the Medable and Masimo partnership?

The partnership involves eight oncology studies.

How many countries are the oncology studies spanning?

The oncology studies span across 25 countries.

How many patients are involved in the Medable and Masimo oncology studies?

The oncology studies involve over 3,000 patients.

What benefits does the Medable and Masimo partnership provide to clinical trials?

The partnership reduces travel burdens for patients, increases data quality, and enhances both subjective and objective data capture.

What is the expected ROI for decentralized Phase II and Phase III trials in the Medable and Masimo partnership?

The expected ROI is approximately $10M for Phase II and $39M for Phase III trials.