inVentiv Health Clinical Acquires Equity Stake in Mytrus
Pioneering technologies and global clinical trial expertise converge to offer improved trial execution, faster time to market and reduced product development costs
Burlington, Mass. – March 13, 2013 – inVentiv Health, Inc., offering best-in-class clinical, commercial, and consulting services to the healthcare industry, today announced that it has taken an equity stake in Mytrus, Inc., a pioneer in “virtual clinical trials” and technologies such as electronic informed consent to improve trial efficiency.
Mytrus has been expanding the boundaries of traditional clinical trial research with the first all-electronic, home-based clinical trial to gain U.S. Food and Drug Administration approval and IRB (Institutional Review Boards). inVentiv Health is taking a significant equity stake in Mytrus, as well as establishing a strategic commercial relationship.
“This partnership blends our shared drive for innovation and our complementary experience from the world of high tech and clinical research,” said Paul Meister, Chief Executive Officer of inVentiv Health. “The goal is improved trial execution, accelerated time to market and reduced product development costs for our clients.”
Mytrus technology allows sponsors to use electronic informed consent, a significant improvement in efficiency and speed. It allows a wider range of people to participate in clinical research by removing location as an obstacle to recruitment and bringing trials directly to participants in their homes. Taken together, Mytrus technology enables more cost-effective clinical studies that start and finish faster. At a time when bringing a drug to market can cost up to $1 billion, Mytrus provides solutions for pharmaceutical and device makers eager to find more cost effective ways to conduct research.
“We estimate that up to 30% of studies run today could be done direct-to-patient and 100% of studies and study patients could benefit from electronic informed consent,” said Anthony Costello Co-founder and CEO of Mytrus. “inVentiv Health has the global footprint and clinical research expertise to help us bring the benefits of our technology more quickly to trial sponsors and patients worldwide.”
Patients who match the eligibility criteria for a study can live anywhere and submit their data remotely, allowing sponsors to conduct more cost-effective recruitment campaigns and making participation more convenient for patients and physician-investigators. Sponsors are able to reduce the number of study sites required to run a clinical trial by as much as 80 percent, which dramatically increases savings in time and costs throughout the trial, especially during the study start up phase.
“Reducing the overall cost of clinical trials and increasing patient recruitment remain serious issues for sponsors,” said Ray Hill, President of inVentiv Health Clinical. “Our partnership with Mytrus will allow us to recruit and retain a broader base of patients more quickly to help meet our clients’ needs.”
About inVentiv Health Clinical
inVentiv Health Clinical, formerly PharmaNet/i3, is a leading provider of global drug development services to pharmaceutical, biotechnology, generic drug, and medical device companies, offering therapeutically specialized capabilities for Phase I-IV clinical development, bioanalytical services, and strategic resourcing from a single clinical professional to an entire functional team. With 7,000 passionate employees in more than 36 countries, inVentiv Health Clinical works to accelerate high quality drug development programs of all sizes around the world. http://www.inventivhealthclinical.com
About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv offers convergent services that deliver extraordinary outcomes to clients whose goal is improving human life. In 40 countries around the world, inVentiv’s 13,000 employees help clients rapidly transform promising ideas into commercial reality. inVentiv clients include more than 550 pharmaceutical, biotech and life sciences companies, as well as companies that now see health as part of their mission. inVentiv Health, Inc. is privately owned by inVentiv Group Holdings, Inc., an organization sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners and members of the inVentiv management team. For more information, visit http://www.inventivhealth.com.
Founded in 2009, Mytrus is a California-based clinical technology and services company built on the idea that modern technologies can enable people to safely and effectively participate in clinical trials without requiring them to live near a study center. The company’s proprietary methods can dramatically improve patient recruitment timelines, increase patient retention and reduce overall study costs for sponsors. Learn more about Mytrus at www.mytrus.com or find the company on Facebook and Twitter @mytrus.
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