CRO inVentiv Health has agreed to share its expertise with the nonprofit Alliance for Clinical Research Excellence and Safety (ACRES), working to develop global standards for clinical trials.
ACRES' broad mission is to unite stakeholders to improve the speed, quality, safety and integrity of clinical trials around the world, working to ameliorate the roughly $20 billion the industry loses each year due to inefficient drug development, according to the group.
Through the inVentiv partnership, the CRO's Clinical Trial Recruitment Solutions segment will help ACRES work up best practices for accrediting research sites, establishing universal performance metrics and ensuring interoperability, the two said.
Otis Johnson, inVentiv's vice president of clinical research services, will join the steering committee of ACRES' Site Optics and Quality Informatics Initiative, an effort to create a giant repository of data on effective trial management. United, with inVentiv's experience in data-driven decision support systems with ACRES' expanding network of stakeholders, the partners have the opportunity to create a tool that could transform the industry, Johnson said in a statement.
"Together we'll promote new standards worldwide by creating awareness, building strategic industry alliances and raising the bar for clinical research sites," he said.
InVentiv touts itself as having played a role in either the development or commercialization of 60% of all drugs approved by the FDA over the last 5 years, and the sprawling company has offerings spanning all phases of clinical development, along with legal, regulatory and policy work, among other services.
Since getting bought by a private equity group for $1.1 billion in 2011, the Massachusetts-headquartered inVentiv has grown to employ 12,000 people in 70 countries.
- read the statement