Among the numerous lessons to be learned from the protracted pandemic’s effect on healthcare practices is the importance of adaptive therapeutic trials. 4G Clinical is leading the charge on using Randomized Trial Supply Management (RTSM) solutions for back-end clinical trial management with its Prancer software, which translates the complicated language of trial requirements into a simplified platform. This allows for an expedited schedule in achieving compliance and getting trials off the ground. In one instance, 4G Clinical was able to facilitate an unprecedented six-day turnaround.
The objective is to bring this amenity to smaller organizations that might assume speedy, flexible clinical trials are too cost-prohibitive or a total pipedream. Although leading companies have the means to stay apace of the required technology, many are drawn to 4G’s adaptable solution. 4G has so far seen a fairly healthy adoption of its system design by tailoring Prancer to all markets, having engaged with more than 230 companies.
Following a growth equity round led by Goldman Sachs totaling $200 million, 4G Clinical plans to pump funds into continual marketing strategies, research, and development to capitalize on the booming eClinical market, which is projected to hit upwards of $15 billion by 2027. RTSM accounted for 17% of market share in 2020. A survey of 500 clinical operations professionals found that 63% use an RTSM system, constituting a 20% increase from four years prior.
The increasing popularity of adaptive clinical trials, with eye-catching innovations such as the WHO’s SOLIDARITY trial, which featured multi-drug testing and flexible mid-trial adjustments, is bound to continue and encourage further development of RTSM software as health organizations recover from the pandemic.