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About the Author:
Joseph Munda
Senior Vice President
Joe Munda has worked in finance and investment for 16 years and joined First Analysis in 2015. He works with entrepreneurs as an investor and as an advisor on growth transactions to help build leading businesses in healthcare technology. He has played a key role in building First Analysis’ franchises in drug development technology and medical technology and has published several thought-leading white papers in those areas. He supports First Analysis' investments in Checkpoint Surgical, Medicinal Genomics, Transformative Pharmaceutical Solutions and VIDA Diagnostics. Prior to joining First Analysis, he was an equity research analyst covering medical device and healthcare services companies at Sidoti & Co. Earlier, he worked in institutional sales at Bear Stearns/J.P. Morgan. He earned a bachelor's degree in finance from Fairleigh Dickinson University.
First Analysis Pharma IT Team
Joseph Munda
Senior Vice President
Matthew Nicklin
Managing Director
Tracy Marshbanks
Managing Director
Andrew Walsh
Managing Director
First Analysis Quarterly Insights
Pharma IT
Line of "site" to better drug development: Site-centric clinical trial tech
September 28, 2022
  • Pharma sponsors are realizing they must address clinical trial site inefficiencies that have been a byproduct of (or have been neglected by) the otherwise largely successful efforts to make drug development more efficient with clinical trial technology.
  • Historically, trial sponsors have mandated trial sites use each sponsors' preferred clinical trial technology stack. As a result, sites' needs and preferences have been overlooked, and sites have been overwhelmed with multiple disconnected solutions.
  • To resolve this, sponsors are increasingly focusing on adopting site-centric technology for streamlining workflows, reducing administrative burden and compliance errors, and enhancing sponsor-site relationships. We highlight the key areas where we see site-centric technology making an impact - study start-up, source data collection, and imaging - and some of the innovative companies providing these solutions.

TABLE OF CONTENTS

Includes discussion of eight private companies

Clinical trials remain inefficient, and trial sites bear the brunt of the pain

Site-centric solutions address the problem - "We’re in this together"

Study start-up: Faster path to trial execution

eSource: More efficient, accurate data collection

Imaging: Better protocol adherence, faster turnarounds

Line of "site" to a better future

First Analysis eClinical and commercialization indices at one-year low

Pharma IT M&A pace slows

Pharma IT private placement pace slows

Clinical trials remain inefficient, and trial sites bear the brunt of the pain

Despite a remarkable surge in adoption of eClinical solutions since the onset of the pandemic, particularly decentralized or hybrid solutions to conduct clinical trials remotely, trials remain inefficient as trial costs and protocol complexity increase and timelines tighten. In many ways, the long journey to substantially increase drug development efficiency with technology has just begun. Trials sites bear the brunt of the pain: Factors ranging from staffing shortages to low patient participation rates mean sites must do more with less. At the same time, sites are burdened with more administrative tasks now than ever and still spend an inordinate amount of time on manual processes and administrative work. Solutions aimed at increasing trial site efficiency are key to alleviating the pain.

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