DATATRAK to Receive Five Cardiac Safety Projects From COResearch Relationship
Five new clinical trial sponsors brought by COResearch will utilize the DATATRAK eClinical™ platform for international cardiac safety studies for drugs and devices
Cleveland, OH – July 7 – DATATRAK International, Inc. (Nasdaq: DATA), a technology and services company focused on global eClinical solutions for the clinical trials industry, today reported that over the past week it has received a block of five cardiac safety studies from five new clients as a result of its previously announced relationship with COResearch, Inc., a division of Duke Medical Strategies. The value of these new contracts to DATATRAK is expected to be approximately $250,000 and will bring the total number of projects being performed for COResearch to seven involving seven different clinical trial sponsors. All of these new clients brought by COResearch represent new customer exposures to DATATRAKeClinical™. This new group of five international clinical trials will be performed in approximately 5,200 patients. Three of the clinical trials involve safety assessments of drugs in the areas of oncology and infectious disease. The other two trials represent studies involving medical device assessments in cardiovascular abnormalities.
Four of the clinical trials will be cardiac safety studies involving electrocardiographic (ECG) tests of QT intervals, as required by the FDA. The fifth clinical trial will involve image analysis using echocardiograms, which are also known as cardiac ultrasounds. The ability to collect and allow image analysis in a global ASP (application service provider) manner is a unique advantage of the new DATATRAK eClinical™ platform in the clinical trials marketplace allowing for remote review anywhere in the world from a centralized reading center of the clinical trial sponsors' choosing. DATATRAK recently developed a new business model for such imaging studies as part of its unified platform and this capability adds yet another revenue line to the Company's products and services. This model contains the traditional transaction-based fee for each echocardiogram along with a price for the storage of this information in the Company's global data center.
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