ProofPilot's Strategic Acquisition of Lokavant: A New Era in Clinical Trials
ProofPilot Announces Major Acquisition of Lokavant
ProofPilot, recognized as a leading end-to-end clinical experience platform, recently declared its acquisition of Lokavant, an esteemed clinical trial intelligence firm. This strategic move is set to revolutionize the landscape of clinical trials by integrating Lokavant's innovative predictive analytics into ProofPilot's extensive capabilities. This partnership aims to provide research organizations and sponsors with advanced tools to streamline their clinical research processes and hasten new therapy delivery.
Unlocking the Potential of Predictive Analytics
Founded as a spin-out from Roivant in 2020, Lokavant has made significant strides in enhancing clinical trial methodologies. Their cutting-edge technology employs both historical and real-time data to generate predictive insights. This unique approach allows clinical researchers to evaluate study feasibility effectively and identify potential operational risks during the trial process. The incorporation of Lokavant's analytics within the ProofPilot platform will enable Clinical Research Organizations (CROs) and sponsors to create complex clinical trial experiences that are not only robust but also adaptive to changes in real-time.
Transforming the Clinical Trial Experience
Chris Venezia, CEO of ProofPilot, emphasized the importance of this acquisition in empowering sponsors and research teams. He remarked, "By integrating Lokavant's predictive analytics engine into our platform, we are equipping our clients with an unprecedented ability to measure and predict trial success in real time, using critical data from study stakeholders." This merger champions a data-driven methodology that transforms how clinical trials are managed.
The newly enhanced platform promotes an intuitive experience for clinical researchers, offering AI-supported study forecasting. This innovative feature supports proactive planning and comprehensive management of recruitment campaigns. Research teams can also monitor study performance continuously through real-time dashboards, optimizing oversight capabilities. This seamless integration not only bolsters the quality of study data but also enhances compliance, significantly reducing risks associated with clinical trials.
Enhancing Patient Outcomes Through Collaboration
Reflecting on this exciting development, Alex Gasner, EVP at Roivant Health, stated, "The collaboration between Lokavant and ProofPilot aligns with our mission to enhance patient lives by accelerating the development and availability of meaningful medicines. This alliance positions biopharma companies to deliver groundbreaking therapies more effectively and efficiently, targeting patient needs." This sentiment is echoed by Rohit Nambisan, CEO & Co-Founder of Lokavant, who pointed out that this union represents a transformative period for both entities, promising unprecedented clarity and foresight into study performance.
Through this collaboration, ProofPilot strengthens its reputation as a market trailblazer in clinical trial innovation. The merged platform presents a holistic, integrated solution that encompasses digital trial planning, execution, and predictive intelligence, ultimately maximizing operational efficiency and effectiveness.
About ProofPilot
ProofPilot is revolutionizing the traditional approach to managing clinical trials through its state-of-the-art Clinical Experience Platform. The primary goal is to enhance site operations while reducing patient burden, fostering a streamlined and branded experience from recruitment to trial closure. This transformation leads to quicker enrollment timelines, increased compliance rates, and higher overall quality for trials.
About Lokavant
Lokavant stands at the forefront of applying AI technology in Study Forecasting, changing the dynamics of clinical trial planning. Its flagship solution, Spectrum, empowers clinical teams to independently forecast enrollment and assess operational risks at any stage of the trial. By leveraging advanced AI methodologies, Lokavant provides real-time forecasts with remarkable accuracy, which vastly benefits sponsors and CROs.
Frequently Asked Questions
What is the significance of ProofPilot's acquisition of Lokavant?
The acquisition enhances ProofPilot's capabilities by integrating Lokavant's predictive analytics, offering a more robust platform for clinical trial management.
How does predictive analytics improve clinical trials?
Predictive analytics uses historical and real-time data to anticipate challenges and optimize study feasibility, ultimately leading to faster, more reliable outcomes in clinical trials.
What technologies does Lokavant utilize for study forecasting?
Lokavant employs advanced AI technologies, including machine learning and generative AI, to provide precise and timely forecasts during clinical studies.
What benefits do sponsors gain from this partnership?
Sponsors benefit from improved operational predictability, reduced risks, and enhanced data quality, which accelerate the delivery of innovative therapies to patients.
How will this acquisition impact patient outcomes?
This collaboration aims to expedite the development of new therapies, ensuring that patients gain faster access to effective treatments and improving overall health outcomes.
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