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Lokavant Emerges from Roivant Sciences with Multiple Industry Partnerships to Accelerate Impact on Clinical Research
Clinical trial intelligence platform hits key commercial milestones, expands leadership team NEW YORK--(BUSINESS WIRE)-- Lokavant, the clinical trial
About this update from Roivant Sciences Ltd.
[{"type":"text","content":"\nClinical trial intelligence platform hits key commercial milestones, expands leadership team\n\n\n NEW YORK--(BUSINESS WIRE)--\nLokavant, the clinical trial intelligence platform company, has achieved significant business milestones within three months of the company’s $21 million Series A funding announcement, including new customer growth and leadership hires. The venture has also formally launched from parent company Roivant Sciences (Nasdaq: ROIV), which develops transformative medicines and technologies by building subsidiary companies called “Vants.” As one of Roivant’s most promising health technology startups, Lokavant was incubated in 2020 with the mission to make clinical trials smarter and prevent avoidable operational issues, accelerating drug development.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230404005405/en/Lokavant emerges from Roivant Sciences to Accelerate Impact on Clinical Research (Graphic: Business Wire)\nThrough incubation within Roivant Health, Lokavant identified a broader market opportunity to solve a longstanding problem in clinical trials for sponsors and contract research organizations (CROs). In 2020, the company entered its first multi-year enterprise license agreement with top-10 CRO Parexel. “The ability to continuously innovate is central to clinical development,” said Peyton Howell, Parexel Chief Operating & Growth Officer. “Through our collaboration with Lokavant, Parexel is able to leverage the latest technology to manage the complexities of clinical trials, improve clinical trial execution, and accelerate the delivery of new therapies to patients.”\n\n\nThe number of data sources involved in clinical trials is staggering. According to Tufts CSDD, clinical trial teams use at least six different sources in a single trial and produce upwards of 3.6 million data points, increasing the operational complexity of each trial. Lokavant’s platform unifies data in real time across all trial functions to power a machine-learning engine that anticipates clinical trial events and their impact on trial execution. The platform delivers deep analytical insights, clear data visualizations and immediate alerts to sponsors and CROs to enable decisive action and prevent trial derailment.\n\n\n“Trials generate exponentially more data from ...