TECH OUTLOOKTECH OUTLOOKMAY - 20229And the challenges associated with trials are getting harder to overcome.New types of biopharmaceuticals and therapies, such as protein biologics, cell therapies and gene therapies, also present unique challenges and requirements, not to mention the fact that there are now more trials than ever before, more than 290,000 globally in the last year.That said, a number of companies are working to reduce the pain points around clinical trials, while improving their efficacy. From improving clinical trial recruitment, to increasing patient engagement, to automating aspects of clinical trial administration and data collection, numerous startups are helping lead the way driving new technologies that can reduce the cost, time and improve the quality of clinical trials and drug development. That's where we're seeing opportunities in this market. Technologies to improve recruitment are gathering and analyzing more data to find better matches for trials as well as more potential patients. Software and connected devices are being used to improve trial retention, reducing the staffing and monitoring burden at clinical trial sites while simultaneously improving data quality and adherence. Control populations cost trial organizers both time and money, but creating synthetic populations to represent the control part of the equation can potentially cut the number of patients needed for trials in half.Will these steps solve the challenges facing drug developers? It depends. Regulators will need to be convinced of the safety and efficacy of any new methods to recruit or run clinical trials and gaining that support will likely take time. Plus, many of the companies working in this space are early-stage and we don't yet know what to expect from their work. Whatever the case, it will take some time before any major changes come to the clinical trials system as we know it today.But that doesn't mean this isn't an effort worth undertaking. As the global population continues to grow and live longer, we're going to need access to new and better medical treatments to address chronic disease and other age-related conditions. The legacy system of clinical trials was not designed to support drug development at this kind of scale. It won't happen overnight, but technologies like those mentioned above will help support new approaches to clinical trials that will drive the medical field forward for years to come.Craig Herron is Managing Director of iSelect Fund in St. Louis, MO."All information provided herein is for informational purposes only and should not be relied upon to make an investment decision and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. Readers are recommended to consult with a financial adviser, attorney, accountant, and any other professional that can help you understand and assess the risks associated with any investment opportunity. Private investments are highly illiquid and are not suitable for all investors."
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