US-based clinical trial software company Lokavant has launched Spectrum, a feasibility software solution designed to optimise studies.
The AI-powered offering is designed to enhance trials at all stages, from strategic planning to mid-study re-forecasting.
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Spectrum aims to assist study teams in forecasting, streamlining and controlling trial timelines and expenditures on a real-time basis, allowing iterative feasibility assessments and adjustments to be carried out in mid-study.
The solution is also intended to enable more precise strategic and operational feasibility analyses at the start of a trial, as well as during mid-study evaluations.
In addition, Spectrum’s automatic integration of ongoing financial forecasting removes the need for manual input to model budgets, allowing for more detailed budget modelling based on actual data rather than assumptions.
One contract research organisation (CRO) that used Spectrum reported being able to quickly plan and prepare for a sponsor bid defence.
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By GlobalDataBy evaluating various scenarios, the CRO was able to provide the sponsor with multiple recommendations that optimised the mix of time, cost and countries involved.
Spectrum’s use of ‘causal AI’, a prescriptive AI that offers real-time recommendations, aims to enable study teams to take proactive measures to keep a trial on track, as well as support junior study staff amid staffing challenges in the industry.
Lokavant CEO and co-founder Rohit Nambisan said: “The industry needs novel approaches to clinical trial operations that match the innovation in clinical sciences, especially as trials grow increasingly complex, personalised and specialised.
“Spectrum empowers teams to optimise research and manage costs, facilitating the swift delivery of the right therapies to the right patients.”
Lokavant will exhibit the Spectrum solution at the annual Drug Information Association conference, which will take place from 16 to 20 June in San Diego, California.
Based in New York, the company aims to improve clinical trial performance by providing study teams with real-time, AI-driven data insights.
