PRA Health Sciences pioneers connecting clinical trial patients with their real-world data with Synoma

Rhea-AI Summary

PRA Health Sciences has introduced an innovative tokenization solution using Synoma, its proprietary technology, to enhance drug development by connecting clinical trial data with real-world data.

This aligns with the 21st Century Cures Act and improves privacy protection. Currently, three major pharmaceutical companies are using Synoma to maximize data insights for drug safety and effectiveness.

PRA also strengthened its capabilities through the acquisition of Symphony Health, allowing for broader data evaluation and faster market entry for new therapies.

Positive

• Introduction of Synoma enhances data connection between clinical trials and real-world insights.
• Aligns with the 21st Century Cures Act to expedite drug development.
• Three large pharmaceutical companies currently utilizing this innovative solution.
• Acquisition of Symphony Health broadens data sets and improves research analysis.

Negative

• None.

Pharmaceutical, biotech and other research sponsors can now connect their clinical studies to longitudinal real-world data – speeding up drug development and aligning with the 21st Century Cures Act.

RALEIGH, N.C., May 13, 2021 (GLOBE NEWSWIRE) -- PRA Health Sciences, Inc. (NASDAQ: PRAH) announced today an innovative tokenization solution using Synoma^®, PRA’s proprietary technology that allows for the generation of enhanced evidence for drug development. PRA’s solution makes it possible to connect clinical trial data and secondary data sets with privacy at the forefront. Today, three large pharmaceutical companies, along with several other pharmaceutical and biotech companies of all sizes, are using Synoma to link data and conduct analyses across their drug development portfolios.

“Data of all types is widely available from dozens of sources. The missing link, however, is the ability to connect clinical trial data to the insights from real-world data – enabling researchers to understand what is happening outside and after a study in a way that protects privacy,” said Kent Thoelke, Executive Vice President and Chief Scientific Officer, PRA Health Sciences. “Tokenization and linking is the approach researchers can use to glean the greatest insights into drug safety and effectiveness over time.”

PRA can partner with a variety of tokens to multiple sources of information – making it possible to incorporate broader sets of real-world data and revolutionize evidence generation and insights as envisioned by the 21st Century Cures Act.

“Tokenization of siloed patient data sets will be a game-changer for clinical researchers and drug developers,” said Jane Quigley, Senior Vice President, Digital Health, PRA Health Sciences. “Through our acquisition of Symphony Health and partnership with other data sources, we have enabled scientists and research teams to more intelligently evaluate a wider set of data to inform clinical trial protocols, leverage real-world data as eSource, conduct advanced feasibility, speed enrollment and, ultimately, bring novel and differentiated therapies to market faster.”

Contact us to learn more about how Synoma can be applied to clinical studies.

About PRA Health Sciences

PRA Health Sciences is one of the world’s leading global contract research organizations by revenue, providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes more than 75 offices across North America, Europe, Asia, Latin America, Africa, Australia and the Middle East and more than 19,000 employees worldwide. Since 2000, PRA has participated in approximately 4,000 clinical trials worldwide. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 95 drugs. To learn more about PRA, please visit www.prahs.com.

INVESTOR INQUIRIES: InvestorRelations@prahs.com

MEDIA INQUIRIES: Laurie Hurst, Sr. Director, Communications and Public Relations

hurstlaurie@prahs.com | +1 (919) 786-8435

FAQ

What is the purpose of PRA Health Sciences' new tokenization solution?

The solution aims to connect clinical trial data with real-world data to accelerate drug development while ensuring data privacy.

How does Synoma benefit pharmaceutical companies?

Synoma allows pharmaceutical companies to link diverse data sets for better insights on drug safety and effectiveness, facilitating faster market entry.

What companies are currently using PRA Health Sciences' Synoma technology?

Three major pharmaceutical companies, along with several smaller biotech firms, are currently utilizing Synoma for their drug development portfolios.

How does the acquisition of Symphony Health enhance PRA's capabilities?

The acquisition enables PRA to incorporate broader data sets, allowing for advanced analyses that support clinical trial protocols and speed up enrollment.

What regulatory framework does PRA Health Sciences align with through its new solution?

PRA's new solution aligns with the 21st Century Cures Act, which aims to enhance the drug development process through improved data utilization.