Oracle has entered into an agreement to acquire cloud-based Clinical Trial Operations (CTO) applications provider ClearTrial.
The CTO software is said to make planning, sourcing and tracking of clinical projects and financial performance fast and accurate.
The acquisition enables ClearTrial to offer a closed-loop clinical trial management offering from planning to payment by combining clinical trial execution and Oracle analytics capabilities.
ClearTrial’s activity-based costing applications help life sciences companies manage the costs and complexities of bringing new therapies to market with the aid of embedded intelligence. .
The acquisition also helps biopharmaceutical and medical device companies to deliver improved return on their R&D capital investments by enabling them to improve their ability to manage clinical trials across geographies, outsourcers, therapeutic areas and trial phases.
Oracle Health Sciences senior vice president and general manager Neil de Crescenzo said biopharmaceutical, medical device and diagnostic companies, as well as contract research organisations (CROs), are facing increasing pressure to deliver clinical development projects on time and within budget.
"Adding ClearTrial to the Oracle Health Sciences Cloud will help our customers streamline the clinical development process and help them bring therapies to market with greater predictability and at lower costs," said Crescenzo.
