Virtrial announced today the launch of a new telemedicine virtual trial platform.
September 6th, 2018
Virtrial’s secure, cloud-based platform affords pharmaceutical sponsors and CROs an opportunity to create and conduct clinical trials utilizing virtual visits. The advanced technology offers multiple modalities to engage patients and can be used on any device by any clinical trial site. Virtrial’s model will incorporate a hybrid of in-person and virtual video visits that will alleviate some of the key pain points with clinical trials and enable patients to remain more actively engaged in the study. The Virtrial communication platform will automatically manage patient communication and touchpoints and provide a reporting platform for compliance. This combination of features is a unique offering in the trial space.
Mark Hanley, President and CEO at Virtrial, stated, “By utilizing a hybrid model approach to trials, we can enhance current trials by replacing a quarter to half of the visits with virtual video visits. We don’t plan to completely replace in-clinic visits, just maximize available resources to get results in an accurate, compliant, and timely manner.”
There has been an industry shift in therapeutic area focus to chronic diseases due to the growing, aging population.
As FDA recommends longer post-approval trials be conducted to fully assess safety effects in a real-world setting it is important to keep patient-centric trial design in mind. “This is a perfect platform for post-approval trials, as patients today keep their cell phone numbers for years. Contacting them virtually in 2-5 years will be possible,” said Hanley.
“Mark Hanley, as CEO, built Clinical Research Advantage and Radiant Research to become the largest Site Management Organization in the United States,” said Chris Michalik, Managing Director of Kinderhook Industries. “Mark understands the challenges of the current state of clinical trials and Kinderhook is excited to back Virtrial to provide an innovative solution to the existing clinical trial model by leveraging technology to better engage and manage clinical trial patients.”
Virtrial is using an award-winning virtual care platform to transform telehealth in the clinical research industry. Virtrial offers a patient management program that combines video, text, and email for clinical trial sites to easily, efficiently, and conveniently address specific patient and/or study needs. The platform can be used on any device and at any site. The vision is to replace 25%-50% of standard clinical trial visits with virtual visits to create hybrid studies. This model will be best suited for Phase III and IV studies. Virtrial enables higher performance by clinical trial sites, greater accessibility to trials for patients, and improved outcomes for pharmaceutical companies. Working together we can bring better medications to market more quickly.
For more information about Virtrial, please visit https://virtrial.com.
About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $2.0 billion of committed capital. We have made in excess of 180 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services and automotive/light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.