SHYFT Analytics, a Medidata Solutions (NASDAQ:MDSO) company, and PAREXEL International, a leading innovator of global biopharmaceutical services, today announced that the companies have entered into a strategic partnership that establishes SHYFTs technology as an integral part of PAREXELs foundation for Real-World Evidence (RWE) generation and outcomes research for biopharmaceutical and medical device clients.
The collaboration combines PAREXELs innovative scientific and clinical services with SHYFTs market-leading suite of RWE products to provide insights and outcomes from patient-level data more efficiently to customers worldwide. The pairing aims to optimize the design and execution of ongoing and retrospective clinical studies, from late-phase research to safety studies to the support of pragmatic clinical trials.
SHYFTs QUANTUM Real-World Evidence platform allows researchers to generate robust submission-ready studies 92% faster than industry standard, on average. PAREXEL will be leveraging the SHYFT platform to perform at-scale analyses including cohort modeling, trial feasibility assessment, and large scale observational studies – research that will have broad impact across the drug development and Market Access spectrum. The relationship builds upon PAREXELs real-world data strategy that integrates data access, advanced technologies, data science capabilities, and clinical and consulting expertise.
PAREXEL is, and always has been, committed to helping sponsor organizations navigate the complexities of drug development, said Michelle Hoiseth, Chief Data Officer for PAREXEL. The growing availability of real-world data combined with innovative analytics methods and groundbreaking technologies present an opportunity to assist our organization in delivering on that commitment. As we have evaluated capabilities in this area, we have found SHYFTs platform to be unmatched among other RWE platforms, in its ability to provide answers to complex scientific and commercial queries quickly, with repeatable precision, in a user-friendly manner. By leveraging SHYFTs platform, our teams will be able to generate real-time insights spanning strategic consulting to pivotal trial feasibility to late-phase health economics and outcomes research (HEOR) analytics with a much higher level of efficiency. This, combined with our enhanced data linking capabilities, is a significant step forward in our approach to help sponsors leverage real-world data in a meaningful way now and in the future.
The potential for real-world evidence to drive innovation and value in healthcare is enormous, said Zack King, EVP Medidata and President of SHYFT. The adoption, integration, and analysis of real-world data (RWD) has broad use cases across drug development and commercialization and SHYFTs technology was designed to meet this growing need. We look forward to collaborating with PAREXELs industry experts as they lead the way in delivering RWD based solutions for biopharmaceutical and medical device companies.
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SHYFT will be joining PAREXEL at booth #211 at the ISPOR Europe 2018 conference focused on health economics and outcomes research (HEOR), taking place in Barcelona November 10-14.
SHYFT Analytics, a Medidata company, is the leading platform for commercial and real-world data analytics with products designed specifically for the pharmaceutical, biotech, and medical device industry. SHYFTs data analytics platform is the most efficient and scalable way to transform massive amounts of complex healthcare data into on-demand clinical and commercial insight. SHYFT is headquartered in Boston with offices in San Francisco and New York City. Learn more about SHYFT at www.shyftanalytics.com, or follow the company on Twitter @SHYFTAnalytics or LinkedIn.
Medidata is leading the digital transformation of life sciences with the world’s most-used platform for clinical development, commercial and real-world data. Powered by artificial intelligence and delivered by #1 ranked industry experts, the Intelligent Platform for Life Sciences helps pharmaceutical, biotech, medical device companies and academic researchers accelerate value, minimize risk and optimize outcomes. Medidata serves more than 1,000 customers and partners worldwide and empowers more than 100,000 certified users every day to create hope for millions of patients. Discover the future of life sciences: www.mdsol.com
About PAREXEL International
PAREXEL International Corporation is a leading innovator of global biopharmaceutical services. We simplify our clients journey of transforming scientific discoveries into new medical treatments for patients with high-quality Phase I-IV clinical research, regulatory, consulting and market access services. PAREXEL develops breakthrough innovations and solutions by leveraging its comprehensive therapeutic, technical and functional expertise, in more than 100 countries around the world. For more information visit www.PAREXEL.com.
PAREXEL is a registered trademark of PAREXEL International Corporation. All other trademarks are the property of their respective owners.