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Veeva's Vault eTMF Gets Implemented by Biotest for Trials

Zacks Equity Research
·4-min read

Veeva Systems, Inc. VEEV recently announced that Biotest has deployed Veeva Vault eTMF to attain greater visibility across its European trials. We note that Biotest is a German biopharmaceutical company that specializes in plasma proteins.

This should boost Veeva’s portfolio of cloud-based offerings for the life sciences industry.

More on the Development

For investors’ notice, Veeva Vault eTMF is part of the Veeva Vault Clinical Suite,the industry’s first cloud platform that comprises CDMS, CTMS, eTMF, and study start-up to aggregate clinical data management as well as clinical operations.

Vault eTMF will help Biotest to manage all study documents and activities in real time as the TMF is generated. Henceforth, the latter will be equipped to maintain a constant state of inspection readiness and give teams a comprehensive insight into TMF status for swifter study execution.

Vault eTMF ensures active TMF management so that Biotest can manage study processes and documents in one system, in real time, as they are executed. Advanced reporting and dashboards offer insights into document and process status at all times. Full visibility into TMF completeness enables sponsors, Contract Research Organizations, and sites to collaborate better during trials as well as expedite execution.

Veeva Vault eTMF will provide Biotest greater transparency into TMF quality to enhance compliance and collaboration throughout the course of their study execution.

Veeva Systems continues to remain committed toward enhancement of cloud-based offerings and further expansion of the customer base.

Market Prospects

Per a report by MarketsandMarkets, the global cloud computing market size is expected to rise from $371.4 billion in 2020 to $832.1 billion by 2025, at a CAGR of 17.5%.

Recent Developments

In September, Veeva and Bioforum announced that they have collaborated with RedHill Biopharma Ltd ("RedHill") on a global Phase 2/3 clinical study evaluating opaganib, which is a first-in-class, orally-administered, sphingosine kinase-2 selective inhibitor. The study will be carried out in those patients who have been hospitalized with severe COVID-19 pneumonia, requiring treatment with supplemental oxygen. To facilitate the study, RedHill has adopted Veeva Vault CDMS, which is a modern cloud platform equipped in electronic data capture, coding, data cleaning and reporting.

This should boost Veeva’s portfolio of cloud-based offerings for the life sciences industry.

In fact, three other companies specializing in commercial cloud offerings are ResMed, Inc. RMD, Change Healthcare Inc. CHNG and Allscripts Healthcare Solutions, Inc. MDRX.

In May, Resmed launched a cloud-based remote monitoring software for ventilators and Lumis bilevel devices across Europe via the AirView platform.

In July 2020, Allscripts extended its long-standing strategic alliance with Microsoft for five years. The deal will enable expanded development and delivery of cloud-based health IT solutions. The five-year extension will make Microsoft the cloud provider for Allscripts’ cloud-based Sunrise electronic health record (EHR) solution.

In July, Change Healthcare introduced clinical data retrieval service, which is a new cloud-based interoperability solution that helps payers and a broader range of organizations to instantly get the patient care data required in an integrated electronic fashion. This, in turn, will aid in the verification of claim accuracy, paying claims, managing risk profiles, satisfying quality reporting requirements and optimizing interventions.

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Allscripts Healthcare Solutions, Inc. (MDRX) : Free Stock Analysis Report
 
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