Tigermed Advances Clinical Data Management with Veeva Vault EDC
Veeva Systems (NYSE: VEEV) announced that Hangzhou Tigermed Consulting has chosen Veeva Vault EDC as its foundational technology for electronic data capture (EDC). This adoption is expected to streamline complex data management processes, enabling faster study builds and mid-study amendments without downtime. Tigermed aims to enhance clinical trial management and data quality, benefiting both their clients and the broader industry. The collaboration with Veeva aligns with Tigermed's ongoing investment in new technology to maintain a competitive edge in clinical research. Veeva Vault EDC is part of Veeva's Clinical Platform, widely used by top biopharmaceutical companies and contract research organizations (CROs).
- Tigermed's adoption of Veeva Vault EDC is expected to streamline data management, reducing complexity in clinical trials.
- Veeva Vault EDC enables faster study builds and mid-study amendments with zero downtime, potentially accelerating project timelines.
- The partnership could improve data quality and study execution, benefiting Tigermed's clients and the broader industry.
- Tigermed's investment in modern EDC technology aligns with their goal of providing top-notch clinical trial management services.
- Veeva Vault EDC is part of a widely adopted Clinical Platform, trusted by leading biopharmaceutical companies and CROs.
- The press release does not provide specific financial data or projected cost savings from the adoption of Veeva Vault EDC.
- No concrete case studies or performance metrics are mentioned to substantiate the claimed benefits.
- There is a lack of detailed information on how the implementation of Veeva Vault EDC will be managed, which could lead to unforeseen challenges.
Insights
Tigermed's adoption of Veeva Vault EDC signals a positive move in reducing operational costs and improving efficiency in clinical trials. This could lead to faster delivery of services and potentially attract more clients, enhancing Tigermed's revenue streams. A key aspect to consider is the potential reduction in downtime and errors, which translates to cost savings and better profitability margins in the long term.
From an investment perspective, Veeva Systems should see a boost in its financial performance due to increased adoption of its EDC platform. This strengthens Veeva's market position and could lead to higher top-line growth as they onboard more clients from the biopharma and CRO sectors.
The implementation of Veeva Vault EDC by Tigermed underscores the increasing importance of modern electronic data capture systems in the clinical trial landscape. Veeva Vault EDC offers significant improvements in data management, such as faster study builds and the ability to make mid-study amendments without downtime. This reduces the complexity and delays typically associated with clinical trials, which is important for the speedy development of new treatments.
For Veeva, the partnership with a leading CRO like Tigermed also enhances its reputation and credibility in the market. This can lead to further adoption by other CROs and biopharma companies, reinforcing Veeva's technological leadership.
Modern EDC streamlines key processes to accelerate study builds and make mid-study amendments with no downtime
"We are delighted to partner with Veeva, advancing our operations to help sponsors more efficiently manage clinical trials and deliver on their commitments to the industry and patients faster," said Ms. Gu Peili, vice president, head of data management at Tigermed. "In recent years, rapid progress has been made in the digitization of clinical trials and EDC in particular, as there have been profound changes in the overseas markets. As a leading CRO, Tigermed keeps investing in new technology, and adopting Veeva Vault EDC will help us to consistently deliver the best experience to our clients around the globe."
Tigermed is a leading provider of integrated research and development solutions for the biopharmaceutical and medical device industry. As EDC plays an important role in today's clinical trials, Tigermed's adoption of Vault EDC will help manage the increasing complexity of trials more efficiently while improving data quality and study execution.
"We're proud to partner with Tigermed and drive faster, more effective trials," said Juliana Lu, senior director, R&D and quality and
Veeva Vault EDC is part of the Veeva Clinical Platform, the most complete and connected solution to meet the needs of patients, sites, and sponsors. Eight of the top 20 biopharmas and two of the top six global CROs have standardized on Vault EDC to manage future clinical trials. To learn why more companies are adopting Vault EDC, visit veeva.com/WhySwitchtoVaultEDC.
About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.
Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended April 30, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 35 and 36), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Deivis Mercado
Veeva Systems
925-226-8821
deivis.mercado@veeva.com
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SOURCE Veeva Systems
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