Centerphase Solutions, Inc. Launches New Clinical Trials Business Model Company
Collaborates with Mayo Clinic to accelerate high quality clinical trial execution via data mining and operating efficiencies.
ROCHESTER, Minn., Feb. 5 /PRNewswire/ -- Centerphase has entered into a collaboration with Mayo Clinic to speed the introduction of new medical treatments developed by the biopharmaceutical industry. The Company addressed the root causes historically plaguing the clinical trials process: the lack of a systematic, structured approach for evaluating and optimizing protocols and the tremendous burdens associated with trial start-up administration.
Clinical testing of new medical therapies is an arduous process, which is difficult to plan, costly and habitually delayed. The industry spends over $30 billion a year on clinical trials, yet nearly 90% of trials fail to meet their timelines or budgets. The result has been longer delivery times and great disappointment among patients researchers and clinical trial sponsors.
"Centerphase couples its proprietary methodologies and technologies with Mayo Clinic's medical and informatics expertise, to create a unique solution that we expect will greatly accelerate clinical trial performance," stated Gary Lubin, President and CEO of the new company. "Centerphase is the first independent clinical trials office and seeks to build on its relationship with Mayo Clinic by collaborating with select academic medical centers and healthcare networks."
As part of the new agreement, Mayo Clinic will access its Enterprise Data Trust (EDT) to provide Centerphase de-identified patient information to perform protocol review and optimization and help identify Mayo patients that potentially qualify for enrollment in a specific clinical trial. Mayo Clinic's Enterprise Data Trust (EDT) is a secure collection of data on over 7 million patients from health records, education, research and administrative systems, organized to support information retrieval, business intelligence, and high-level decision-making. Mayo's EDT is HIPAA (Health Insurance Portability and Accountability Act) compliant and has been reviewed by Mayo's Institutional Review Board (IRB) as well.
"Centerphase will benefit from the intensive work Mayo has invested over the years in the development of a state of the art patient record health information system. This system, the EDT, will be leveraged by Mayo informatics experts who will conduct a rapid database review of potential Mayo patients qualifying for enrolment into clinical trials," says Jean-Pierre Kocher Ph.D. Chair of the Division of Biomedical Statistics and Informatics.
Wayne Nicholson M.D., PharmD, Mayo Clinic who will oversee the collaboration, added, "Mayo's goal is to accelerate the introduction of novel treatment options for our patients by setting the industry standard for efficiency and quality in clinical trials. Our engagement with Centerphase will bring us closer to this goal." Mayo Clinic holds an equity position in Centerphase.
About Centerphase Solutions, Inc.
Centerphase provides high quality, predictable, timely clinical services to the biopharmaceutical industry using proprietary technologies licensed through a collaboration with Mayo Clinic. Centerphase is founded by biopharmaceutical veterans Gary Lubin, Chief Executive Officer, and Jeff Tarlowe, Chief Operating Officer; they managed Merck & Co., Inc.'s venture unit before starting the new company. Per Lofberg, former CEO of Merck's venture group and recently appointed President of CVS Caremark's PBM business, will serve as the Chairman of Centerphase. Beth Harper, a leading expert in clinical trial site management, joins the team as Chief Clinical Officer.
For more information, please visit www.centerphasesolutions.com or contact:
Centerphase Solutions, Inc.
600 East Crescent Avenue Suite 205
Upper Saddle River, NJ 07458
Email: [email protected]
About Mayo Clinic and Mayo Clinic's Office of Intellectual Property
Mayo Clinic is the first and largest integrated, not-for-profit group practice in the world. Doctors from every medical specialty work together to care for patients, joined by common systems and a philosophy of "the needs of the patient come first." More than 3,700 physicians, scientists and researchers, and 50,100 allied health staff work at Mayo Clinic, which has campuses in Rochester, Minn.; Jacksonville, Fla.; and Scottsdale/Phoenix, Ariz.; and community-based providers in more than 70 locations in southern Minnesota., western Wisconsin and northeast Iowa. These locations treat more than half a million people each year. To obtain the latest news releases from Mayo Clinic, go to www.mayoclinic.org/news. For information about research and education, visit www.mayo.edu. MayoClinic.com (www.mayoclinic.com) is available as a resource for your health stories.
Mayo Clinic's Office of Intellectual Property has a more than 20 years of experience in technology commercialization within academic medicine. The Office of Intellectual Property at Mayo Clinic serves as a bridge between discoveries and the marketplace. The Office works closely with Mayo physicians and scientists to evaluate and develop inventions, ideas and discoveries that have the potential to transform healthcare and generate income to support Mayo patient care, education and research. Mayo Clinic's Office of Intellectual Property has filed more than 2,400 patents resulting in over 600 active patent-licensing agreements with industry.
For more information, please visit www.mayoclinic.org.
SOURCE Centerphase Solutions, Inc.