ICON Launches New Monitoring Service to Improve Quality and Reduce Costs
Service Leverages ICONIK Technology Platform for More Effective Use of Monitoring Resources
Dublin, Ireland, 21 August, 2013 – ICON plc, (NASDAQ: ICLR) a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today launched ICONIK Monitoring, the first in a series of new services that will leverage its ICONIK technology platform.
ICONIK Monitoring enables the targeted use of monitoring resources by using scientific analysis of real time data, together with CRA site knowledge, to direct central and on-site monitoring activities based on real need. An adaptive service, it uses event, data volume and risk based triggers to ensure the most effective use of monitoring resources. It is designed to meet regulatory and quality requirements for GCP, and is consistent with the guidance documents published by the FDA and EMA on risk based monitoring, and with the TransCelerate Risk Based Monitoring Methodology.
Using its clinical expertise, ICON continuously refines the metrics selected for surveillance using ICONIK monitoring and the algorithms that are used to calculate those metrics. These settings and the pre-programmed methodologies for combing databases and comparing data points can be adapted to suit the study protocol and therapeutic area.
"ICONIK Monitoring enables us to rapidly identify and resolve site-related issues and achieve a higher level of process and data consistency across sites," commented Dr. Nuala Murphy, Executive Vice President, Global Clinical and Data Operations, ICON Clinical Research. "By ensuring more effective use of site visits, ICONIK Monitoring can also reduce study costs and in some large studies these savings can be as high as 15% - 25% of the overall cost of the study."
The statements made in this press release may contain forward-looking statements that involve a number of risks and uncertainties. A description of risks and uncertainties relating to ICON and its business can be found in Forms 20-F for the fiscal year ended December 31st 2012 and in the other forms filed with the US Securities and Exchange Commission, including the F-1, S-8 and F-3. ICON disclaims any intent or obligation to update these forward-looking statements.
About ICON plc
ICON plc is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company specialises in the strategic development, management and analysis of programs that support clinical development - from compound selection to Phase I-IV clinical studies. ICON currently has approximately 10,170 employees, operating from 78 locations in 37 countries.