S P E C I A L I S T I N S I G H T
advancements that we are making within clinical research . Being able to leverage things like Artificial Intelligence in analytics , for example , allows a more robust and advanced way of interpreting the results . I think it ’ s a key component of the future of clinical research .
What challenges do sponsors commonly face when integrating digital health tools and real-world data and how does ICON address these challenges ?
We focus on educating various stakeholders in the clinical research space about clinical trial tokenisation , which is a relatively new concept . Providing this education helps our customers , trial sites and patients understand what it entails and its privacy framework . A few years ago , this concept was brand-new , but the industry is becoming more acquainted with it . The current discussion isn ’ t about what clinical trial tokenisation is but rather how to leverage it for asset value . Customers ’ primary concern , particularly smaller BioTechs , is optimising the development of a specific asset . In contrast , large pharmaceutical companies prioritise timely study completion and approval . The perspective on clinical trial tokenisation and its long-term asset value varies based on the customer .
Recently , a customer likened tokenising their studies to a safety net or a bank . They invest in tokens , even without full knowledge of the insights they ’ ll derive . Having tokens allows them to conduct future analyses in response to questions from regulators or safety concerns . Ensuring upfront consent from patients and generating tokens from the beginning is crucial for this approach .
Are there any recent developments or future plans for ICON ’ s Clinical Trial Tokenisation solution that you can share with us ?
Over the years , we ’ ve expanded our focus on short-term and long-term goals . Maximising the value of secondary real-world data is enhancing our internal capabilities and forging partnerships therefore by integrating multiple datasets , including our own tokens , we aim to create comprehensive insights for drug development through collaboration with the right partners . �
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