Zikria Syed, who previously co-founded and led NexDocs before selling it to Aurea Software, has started another company to support clinical trials, VitalTrax. This time, he wants to change the paradigm for doing clinical trials. He and his team have developed a nimble interface for executing trials that more closely resembles social media than traditional clinical research documents but still conforms to regulatory requirements. I spoke with Syed about his business at the shared workspace, IC@3401 in Philadelphia.
VitalTrax fits into the broader sector of electronic Clinical Outcomes Assessment solutions, a group also referred to as electronic Patient Reported Outcomes, or ePRO. A report by MarketsandMarkets valued this segment at about $3 billion, but projects that amount will double by 2020.
The company's software automates the tasks of participants in clinical trials such as informed consent, meeting appointments and reminders for both principal investigators and participants, and payment processing. Syed added that the platform is also designed to respond to the push to enlist digital health technology in clinical trials for remote monitoring of participants.
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