WELLESLEY, Mass., Oct. 24, 2016 /PRNewswire/ -- 4G Clinical today announced the launch of Prancer, its 4th generation Randomization and Trial Supply Management (RTSM) system, as the world's first 100% configurable and flexible system capable of addressing the increasing complexities of clinical trials.
"The most critical aspects of large phase 2 and phase 3 clinical trials – patient randomization, drug dispensing and site resupply are inadequately supported in the pharmaceutical industry," said Ed Tourtellotte, Founder and Chief Technology Officer at 4G Clinical. "Prancer was developed by a world-class team of industry veterans focused on addressing these limitations and pain points in the planning and execution of clinical trials."
Prancer is built on a modern technology stack, enabling high quality, high speed development, system deployment, monitoring and security. One of Prancer's key innovations is the use of advanced natural language processing (NLP). Combined with custom clinical trials intelligence, NLP technology enables Prancer to read and interpret written RTSM specifications, understand them, and build a deployable system automatically.
Prancer's clinical supply forecasting capability also differentiates it from other RTSM systems. The system uses smart statistical models to remove the burden of managing hundreds of poorly understood algorithm control parameters to forecast supply. Prancer simplifies the supply manager's role in forecasting supply with the use of more intuitive interfaces to determine an optimal supply strategy.
"The technical capabilities of Prancer, combined with the experience and depth of our team, positions us to truly effect the way clinical trials are executed," said 4G Clinical CEO Dave Kelleher. "This launch brings us one step closer to having a meaningful impact on the time it takes to complete critical clinical trials."
4G will be unveiling Prancer at CBI's annual Interactive Response Technologies in Clinical Trials (IRT) conference this week, October 25-26, 2016, at the Hilton Philadelphia at Penn's Landing, Philadelphia, PA.
About the e-Clinical Trials Marketplace
Total global bio/pharmaceutical R&D spending has been estimated at around $127 billion and growing, with late-stage Clinical R&D accounting for about 20% of that total cost. The overall clinical trials marketplace is also generally accepted to be stable or growing. ClinicalTrials.gov, which includes an estimated 75% of clinical trials globally, shows a steadily increasing number of new clinical trials registered year-over-year for the last two decades. In the past 10 years, there has been an average of nearly 17,000 new registered trials annually, with numbers in the last 5 years being consistently higher – between 20,000 and 24,000. Already in 2016, there are more than 20,000 new clinical trials registered.
About 4G Clinical
4G Clinical is a full service RTSM company focused on simplifying and accelerating the drug development process. The company was founded in October, 2015, to develop a service offering centered around a 4th generation Randomization and Trial Supply Management (RTSM) system, Prancer. Headquartered in the heart of the Boston biotech corridor, in Wellesley, MA, 4G Clinical has facilities and staff located in the U.S. and Europe, and offers global expertise and advisory services to pharmaceutical companies and contract research organizations. For more information, visit www.4gclinical.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/4g-clinical-launches-its-4th-generation-randomization-and-trial-supply-management-rtsm-software-for-clinical-trials-300349657.html
SOURCE 4G Clinical