Cytel has acquired MTEK Sciences to further expand its advanced real-world analytics (RWA) capabilities.
The use of real-world data (RWD) from a variety of sources, such as information from electronic healthcare records and wearable devices, has the potential to expedite the design and implementation of clinical trials, facilitate product commercialization and better inform healthcare decision-making. As a result, many pharmaceutical companies are now looking to augment their clinical development and commercialization processes through its utilization.
“Complex RWD sets are now abundant in the healthcare sector, opening up a wealth of opportunity for pharmaceutical organizations of all sizes,” said Joshua Schultz, Chief Executive Officer at Cytel. “Advanced and more sophisticated analytical methods and decision-modeling techniques are needed to harness RWD and turn it into trustworthy evidence. At Cytel, we’re applying our long history of innovative statistical methods to RWD to generate cost-effective insights for our clients, and the acquisition of MTEK is another avenue where we are amplifying this approach.”
Cytel’s team includes more than 100 specialist programmers and applied statisticians with direct experience in the area of RWA — from HEOR to the design of novel RWD-driven clinical trials. Together they are helping companies use RWD to support smarter clinical development and, through innovative approaches to comparative effectiveness research, create more efficient commercialization strategies.
MTEK Sciences specializes in using methods such as machine learning models and Bayesian optimization to derive clinical insights from large and complex RWD. As such, the acquisition of the firm will allow Cytel to continue to build on its strong foundation in the RWA space.
“Our experience has shown us that companies need to look beyond the confines of traditional analytical approaches if RWD is to positively transform clinical development,” Professor Edward Mills, Founding Partner and Director of MTEK, said. “In working with Cytel, we're enhancing our combined ability to develop and deploy the novel solutions needed to confidently guide companies through this rapidly changing landscape.”
“Cytel and MTEK have a tightly aligned vision for the future of RWD applications. Combining our comprehensive statistical know-how means we can deliver greater innovation to a wider array of companies as they seek to enrich their drug development process with RWD,” Professor Kristian Thorlund, Founding Partner and Director of MTEK Sciences, said.