Megalithic Silicon Valley oldster Oracle just announced its agreement to buy ClearTrial, a cloud-based company in the business of biopharmaceutical and medical trials.
The company will be welcomed into the Oracle Health Sciences Suite, where it will become a key part of Oracle’s comprehensive closed-loop clinical trial management offering, with features guiding the client from planning to payment.
To put it briefly and simply, clinical trials are those fun (and seemingly never-ending) periods of research and development for new medical drugs, devices, and procedures. ClearTrial is just software to help manage that process. Oracle aand ClearTrial reps say the software can speed up the planning process, improve budgeting accuracy, and give all parties involved transparency on timelines and how the trials went.
ClearTrial’s current portfolio of clients includes some of the most well-known names in Big Pharma, such as Botox maker Allergan, Allegra and Ambien maker Sanofi, and AstraZeneca, the seventh-largest pharmaceutical company in the world. Research and clinical trials for products from companies like these can span many years and cost hundreds of millions of dollars; ClearTrial gets a microscopic piece of that pie, but it’s a huge pie to begin with.
Oracle already has pieces of the clinical trial-management puzzle in place. For example, Oracle LabPas helps researchers find volunteers (read: human guinea pigs) for studies, and Oracle IRT helps researchers manage things like patient randomization and patient diary data. ClearTrial’s intellectual property rounds out the whole clinical trial offering to include planning, sourcing, and tracking these R&D-type activities.
Oracle, founded in 1977, has disclosed the sale prices of around $2 billion worth of the companies it’s snapped up over the years. For many more deals, like this one with ClearTrial, the price remains unknown.
“Biopharmaceutical, medical device and diagnostic companies, as well as contract research organizations (CROs), are facing increasing pressure to deliver clinical development projects on time and within budget,” said Neil de Crescenzo, senior vice president and general manager of Oracle Health Sciences, in a release. “Adding ClearTrial to the Oracle Health Sciences Cloud will help our customers streamline the clinical development process and help them bring therapies to market with greater predictability and at lower costs.”
Image courtesy of REDAV, Shutterstock
Marketing technologist? We're studying the big marketing clouds
Fill out our 5-minute survey
, and we'll share the data with you.