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ICON teams up with IBM on reduce time and cost of drug development

Sep. 10, 2015 9:06 AM ETICON Public Limited Company (ICLR) StockICLRBy: Douglas W. House, SA News Editor
  • ICON plc (NASDAQ:ICLR), a provider of outsourced product development services to the pharmaceutical, biotech and medical device industries, is working with IBM to help reduce the time and costs of product development.
  • The CRO is applying Watson Clinical Trial Matching to its clinical studies in breast, lung, colon and rectal cancers. Watson enables ICON to better advise its trial sponsors on the matching of patients to trial inclusion criteria, including the number, where they are located and how they may be recruited.
  • Watson Health Cloud will facilitate access to large amounts of anonymous patient data, including 50M patient records contained in the data set from Explorys, which IBM acquired in April.
  • Clinical trials are notoriously expensive, especially in cancer. Drug developers spend over $1.3B each year on patient recruitment but fewer than 5% of cancer patients participate in a clinical study, which usually takes as long as one year to reach Phase 3 from start up and another year to enroll the required number of patients. Patient recruiting comprises more than 30% of total trial costs.

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