Cork-based Tech Firm Leads in Clinical Trial Design Innovation
Statsols, the Cork-based pharmaceutical software company recently announced an innovative update to it’s already widely successful clinical trial software product - nQuery.
Used by the world's top pharma companies such as Novartis, Eli Lilly, Amgen and the US Food & Drug Administration (FDA), nQuery has become an industry standard used to calculate how many patients are required for a successful clinical trial when developing new drugs and medical devices.
Leading In Innovation
Statsols recently introduced an innovative new suite of analytical features into its software product. For pharma companies, this helps flag potential problems when it comes to calculating how many people are required to enroll in a clinical trial. Clinical trials can last up to 10 years and cost over $1 billion so every insight that can help achieve trial success is crucial.
Head of Statistics at Statsols, Ronan Fitzpatrick explains:
“When calculating the sample size for a clinical trial, there are two different statistical approaches. These are commonly known as Frequentist or Bayesian methods and each has their own benefits and pitfalls. In nQuery, we have implemented a study planning solution that, instead of pitching these methods against each other, allows them to complement each other and thus provides new insights that can help find potential weaknesses with trial design and sample size calculations”.
Statsols is helping its clients in pharma and med-tech industries to reduce risk and costs of trials while accelerating the development of new medicines and treatments, thus ultimately helping patients access those breakthrough treatments faster.
Owner & Chief Executive Officer, Mary Byrne said:
“It’s great to see such statistical innovation developed here in Cork being so well received by our customers. In 2017, 90% of organizations with FDA approved clinical trials used nQuery for sample size calculation. We have worked closely with great partners such as Enterprise Ireland and AIB who have really helped accelerate the development of nQuery”.
Statsols is a Cork success story of combining Irish STEM talent and global ambitions. With over 50,000 software users and growing rapidly, their success is set to continue.
Eoin Gunn, Head of Business Banking at AIB Cork City, said:
“AIB is delighted to be backing Statsols, who invest in local talent here in Cork and have achieved global success through their blend of innovation and hard work. Statsols is an award-winning company led by Mary and her team, and AIB continues to back them as they accelerate the development of their clinical trial software and break new ground”.
Statsols is already eyeing up further innovation
Packaging complex statistical processes into an easy to use and time-saving manner has been a success for Statsols. Not content with just one successful statistical innovation, the company wants to continue to add to its toolbox. The nQuery statistical and development team are already working on the next update of their software.
Chief Operating Officer - Brendan Nyhan said:
“Our clients require all aspects of their ecosystem to be the most innovative in their field. Our new suite of features in nQuery is building on top of an already highly successful product”.
When asked about the future of the product growth he responded with.
“There is a continuing requirement to reduce risk and costs of clinical trials and we are helping address those problems. There are many aspects of calculating sample size for clinical trials that we can help pharmaceutical companies with, and we have started work in some of these areas.
He continued with “While the majority of our users work in pharmaceutical headquarters or academic institutions in the United States, UK and Europe, we have seen a steady rise in interest from the Asia-Pacific Region, this will be an interesting area to watch for us”.
Statsols Innovative Website Wins at Cork Digital Marketing Awards
Innovation permeates across all departments within Statsols. Recently, Statsols.com won the Cork Chamber Digital Marketing Award for Best Website (Medium Business). The judges particularly praised the website for its clarity in conveying what Statsols does best - packaging complex statistical processes into an innovative and easy to use software application that statisticians can confidently use when enrolling patients in clinical trials.
Statsols (Provider of nQuery), has been leading through statistical innovation for over 20 years. nQuery is the world's most trusted sample size and power analysis software with 50,000 users. In 2017, 90% of organizations with FDA approved clinical trials used nQuery for sample size calculation. Headquartered in Ireland, Statsols has a U.S. subsidiary in Boston, Massachusetts, as well as a network of dedicated and devoted partners throughout other regions, including Japan, Australia, China, Germany and France.
Director of Corporate Planning