Can you briefly introduce DATATRAK’s company history and how its core service offering applies to the pharmaceutical industry?

DATATRAK has a rich company history in the clinical research industry. We provide the DATATRAK Enterprise Cloud, a platform that captures and manages clinical research data from sites, patients, and devices worldwide in real-time. Our platform is designed for ease of use and offers a single point of access to all clinical data from a unified database source. This allows our clients to accelerate reporting to sponsors and regulatory authorities at lower costs. Additionally, we analyze the Big Data collected across various stages of drug, device, and diagnostic studies, providing valuable insights for ongoing product development.

In the late 90s, DATATRAK created the Electronic Data Capture (EDC) market, which was cutting-edge at the time. However, by 2006, the technology was becoming obsolete. To stay ahead, DATATRAK acquired ClickFind, my company, which developed the first cloud-based clinical research platform. Since then, our approach has been to consistently offer the latest and greatest versions of a unified system, reducing the cost and risk associated with integrating disparate systems as the industry migrates to the cloud.

Can you elaborate further on how your software solutions assist pharmaceutical companies in being more efficient?

The clinical research industry is experiencing an overwhelming influx of data, with IBM estimating that 90% of the world’s electronic data has been created in the last two years. Our operating efficiencies enable us to offer solutions at half the price of our global competitors, making us more cost-effective. However, cost savings alone are no longer sufficient. As innovators, we have integrated leading business intelligence platform, Sisense, into our Clinical Trial Management and Electronic Data Capture products. This integration includes features such as data visualization, predictive analytics, and more. These solutions help our clients identify new product and protocol opportunities while saving significant infrastructure investments.

What are the key challenges the pharmaceutical industry faces when it comes to incorporating data-driven solutions into their business models?

Incorporating data-driven solutions into pharmaceutical business models presents several challenges. The sheer volume of machine-generated data from various sources, including CTMS, EDC, EMR, core lab, images, clinical devices, patient wearables, and third-party data, requires new storage and analytical capabilities. Many companies lack the internal expertise and budget to handle this influx of data effectively. Additionally, changing country and agency regulatory responsibilities add complexity and increase costs and risks associated with ensuring the security, access, and ownership oversight of Big Data.

DATATRAK has been involved in multiple studies and collaborations within China. What is your strategy for expanding further into the Chinese market?

Our strategy for expanding in the Chinese market revolves around empowering partners with our technology. Our product line is accessible in any language and meets the requirements of the countries where we operate. We have a strong partnership with NTT Data, a well-known entity in Asia and a trusted powerhouse in Japan. Through this partnership, we establish a presence in China, including IT infrastructure and a dedicated team of over 2,000 employees, including Chinese representatives. This team provides sales, training, support, infrastructure, and project management. We understand the concerns of our clients in China regarding privacy, ethics, and oversight, and we aim to provide high-quality, standardized software that protects the quality of products and the privacy of patients.

What is your final message to our readership about the capabilities of DATATRAK’s software solutions and your outlook on the necessity of integrating technology into a successful pharmaceutical business model?

As a secure and trusted provider of global clinical research solutions with over 25 years of experience, DATATRAK offers a scalable Cloud Enterprise platform that caters to various trial complexities. Our unique CTMS can import trials from competing EDC vendors, which can be measured with our business intelligence dashboard. We are expanding into the Chinese market with a focus on building long-term relationships. These relationships are based on empowering clients to scale our technologies to their budgets and timelines, providing optimal return on investment. We believe that integrating technology is essential for a successful pharmaceutical business model, and our software solutions are designed to streamline processes, enhance efficiency, and unlock valuable insights from the vast amount of clinical research data.