Reno biotech startup looks to revolutionize clinical research process
One northern Nevada startup is working to change the way that clinical research is conducted within the healthcare industry.
Crucial Life Sciences Data Solutions is a Reno-based, biotech company that develops software to help clinical researchers design and manage clinical trials directly on a mobile device, tablet or computer.
“We provide a tool for medical researchers that allows them to conduct their research in a regulatory compliant environment,” Paul Grady, the CEO of Crucial Life Sciences Data Solutions, Inc., said in a phone interview.
The company launched an app called TrialKit that allows clinical researchers to create and manage studies, allow individuals to search and participate in healthcare studies and collect data that can be submitted to the U.S. Food and Drug Administration (FDA).
“The exercise of collecting data is of critical importance,” he said. “The regulations that the FDA has put in place make the software systems extremely complex.”
He explained that the data collected via the app can help determine whether or not a drug, a device or a treatment will be approved by the FDA.
“With the advent of mobile devices, we are now able to collect data exactly where it exists,” Grady said.
He explained that this type of technology helps make researchers more productive, allow treatments to get to market faster as well as reduce research costs.
“We believe, with our pricing and our technology, that we can cut as much as 90 percent off the cost of clinical research,” Grady said. “… We are a very disruptive technology.”
Grady founded Crucial Life Sciences Data Solutions in 2010. The startup currently has 11 employees and is headquartered in Reno. However, he said the company’s reach far exceeds northern Nevada.
“This isn’t just a northern Nevada company,” Grady said. “This is a company that can literally change the world for the better.”
The company’s biggest challenge is getting the word out about their new technology. At the time of the interview, the app had been downloaded 500 times. Grady said that their goal for the year is to get to 10,000 downloads.
“We developed the technology with the goal of putting this in the hands of all researchers,” he said.
According to Grady, there are approximately 1 million studies being contacted that can take advantage of this type of technology. However, only about 10,000 of those studies are being conducted using tools like TrialKit to help streamline research.
The company is already seeing returns since launching the app on the Apple App Store more than 18 months ago.
“We have seen revenue increase by 400 percent over the course of the past 18 months, and we expect to match that growth in the coming 18 months as our products continue to gain more visibility within the market,” Carley Allison, director of marketing for Crucial Life Sciences Data Solutions, said in an email response.
In order to further expand their reach, the company is currently working to develop an app compatible with Android devices. Grady said they expect to be able to launch the app on Google Play by the end of August, which will allow the software to be used by 99 percent of mobile devices.
For more information about TrialKit and Crucial Life Sciences Data Solutions, visit http://www.trialkit.com/.
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