Castor debuted a new technology for decentralized and hybrid clinical trials that the trial tech provider said will trim costs and reduce timelines.
The technology was designed to help tackle challenges in the post-marketing clinical trial (PMCT) arena by integrating real-world data sources like patient-reported outcomes and wearables in order to improve patient access and retention, as well as refine data quality and compliance, the company said in a Nov. 10 press release.
The company expects its latest offering—dubbed Castor Real-World Evidence—can trim trial costs by 30% and reduce deployment timelines to an average of four weeks. It includes pre-configured modules for patient recruitment, eligibility screening, enrollment, data capture and participant engagement.
“Real-world evidence has the potential to transform evidence-based medicine, by generating a body of evidence that provides a much more accurate view on what cure is best for each individual patient, through including a more diverse range of patients and in everyday settings,” Derk Arts, M.D., Ph.D., Castor’s co-founder and CEO, said in the release.
Castor has been busy vying for a prime spot in what has become a crowded yet growing decentralized trial space spurred by challenges and disruptions caused by the COVID-19 pandemic. A little over a year ago, Castor partnered with Swedish patient enrollment company Trialbee. That collaboration came two months after Castor reeled in $45 million in series B funds.