Dublin, Ireland – (COMMERCIAL THREAD) – Tánaiste and Minister of Enterprise, Trade and Employment Leo Varadkar TD today announced that ICON plc (NASDAQ: ICLR), a Dublin-based global provider of development services and marketer of medicines for the pharmaceutical, biotechnology and medical device industries, has received € 4 million in R&D support administered by Enterprise Ireland to further improve its data solutions and decentralized clinical trials technology.
The COVID-19 pandemic has accelerated the clinical research industry’s transition to hybrid and decentralized trials, forcing researchers and regulators to adapt to the way participants live their connected and mobile lives. As the industry’s most advanced medical intelligence and clinical research organization, ICON will use the funding to further invest in building its architecture of world-class technology and data solutions. The support will promote broad participation in clinical research while providing real-time access to data, higher levels of security, improved lead times and reduced costs for clients.
Tánaiste and Minister of Enterprise, Trade and Employment Leo Varadkar TD said:
“I am really happy that the government is able to invest € 4 million in one of Ireland’s best known and most respected life science companies. This funding will go to research and development in digital health technologies and data analysis. The pandemic has highlighted the importance of these two areas. With its roots in Dublin, ICON has grown into a global team of 38,000 dedicated employees. It is a real success. I wish the team the best of luck in this project, which I have no doubt will lead to better patient outcomes here in Ireland and around the world.
Support for R&D will help in the development of technological systems that offer greater flexibility and reduce the burden felt by participants in clinical trials. In addition to visiting sites and meeting with trial investigators when needed, clinical trial participants should also have the choice of using virtual tours with their care teams, filling out electronic consent forms, and reporting. results on mobile and portable devices as part of their clinical trial experience. These options, combined with the availability and analysis of real-time data, improve participant retention and reduce time and costs for trial sponsors.
Plans are already underway to invest in resources such as additional data sources, advanced analytical systems and digitization, patient-centric mobile technology, and predictive tools that integrate artificial intelligence and machine learning.
“Clinical research has evolved for many years, but the importance of expanding patient access to clinical research by decentralizing many components through technology and data insight has never been more evident than over the past 18 months, ”said Steve Cutler, CEO of ICON. “We need to accelerate the adoption of decentralized and hybrid clinical trials to meet participants wherever they are – on their mobile devices and at home – while protecting data security, ensuring the integrity of all data. ‘testing and complying with regulatory requirements. We are honored to be the recipient of this R&D funding from Enterprise Ireland, which will help us advance our mission to save and improve patients’ lives. ”
“ICON has an exceptional track record, providing breakthrough clinical research solutions to the world’s largest global biopharmacy and medical device companies, ”said Leo Clancy, CEO of Enterprise Ireland. “Enterprise Ireland is delighted to support ICON’s R&D and scale-up program. Today’s announcement further strengthens Ireland’s reputation in the global innovative medicines value chain. We look forward to continuing to work with ICON and wish the team the best of luck in their future endeavors.
About ICON plc
ICON is a world leader in medical intelligence and clinical research. From molecules to medicine, we advance clinical research by providing outsourced development and commercialization services to pharmaceutical, biotechnology, medical device and government and public health organizations. We develop new innovations, advance emerging therapies and improve patients’ lives. Headquartered in Dublin, Ireland, ICON operates from 150 locations in 47 countries and has approximately 38,000 employees as of July 1, 2021. For more information, visit www.iconplc.com.