Sample Hub: Part 2 - Make the most of your clinical trial budget
Clinical trials can cost hundreds of millions of dollars.
That’s nearly double what they were 20 years ago, because they’re becoming more complex – with more procedures and clinical sites per trial.
The staggering amount of money needed for drug development is overwhelming, especially because only a handful of treatments ever reach the approval stage. The financial pain of trial failure could eventually encourage pharma to create processes that are more efficient and successful in the long term. In the meantime, reducing your clinical trial budget warrants serious thought.
Patient recruitment poses an enormous cost for clinical trials – and it stands alone as a point for consideration. The idea of sample repurposing presents a solution that could reduce the funds required for enrollment and retention. This is only one (albeit huge) part of the equation, though.
As biopharmaceutical companies explore several options to lower costs, they are discovering new ways to streamline clinical trial budgets.
Consider at-home clinical trials and lower-cost facilities.
Evaluating lower-cost facilities and introducing in-home testing as well as mobile technology can save a significant percentage of the budget for Phases I-III of a clinical trial. What’s more, running clinical trials in countries with established infrastructure and R&D tax incentives also helps to offset costs.
Improve protocol design.
By standardizing protocols, you reduce the risk of unnecessary delays. So, it’s smart to invite clinical investigators and sample management experts to contribute to the design process. Protocol design that streamlines sample handling procedures ensures sample quality is maintained across all clinical sites and helps offset costs.
Centralize sample handling and vendor management.
Consolidating clinical samples on an integrated lifecycle management platform such as Sample Hub™ creates a centralized approach to sample handling and vendor management. This single global platform can accelerate sample turnaround time, lower handling costs, and enhance sample quality.
Download our article for details on how to optimize your clinical trial budget – and effectively bring new treatments to market faster.
This is the second part of our Sample Hub series. To learn more, visit:
Sample Hub: Part 1 - Five ways to shorten your clinical trial timeline
Sample Hub: Part 3 - Centralized sample management