The biotechnology industry has undergone numerous vital changes in recent history and continues to change across numerous fronts. These changes are being shaped by both regulation and the evolution of technology. However, regardless of the change, emerging biotech companies like ThoughtSphere are focusing on helping life science companies develop and deliver treatments to patients faster and smarter using data science-driven solutions.
The company implements a risk-based monitoring solution that takes a modern big data approach to manage, aggregate, and process the data quickly. The volume and variety of data offered are significantly being increased by decentralized clinical trials, which use technology to enhance accessibility for participants. ThoughtSphere also uses statistical models to signal patient safety or operational risks within the study. The company’s contribution to the change in the industry has been to provide the technology that enables such changes.
A Seasoned Team Leader
ThoughtSphere was Co-founded by Sudeep Pattnaik and Pankaj Manon, in 2015. The cloud-based company has four fundamental product offerings for its clinical data and analytics platform. As the CEO, Sudeep motivates the employees by setting the strategy and the vision of the company. He also plays a significant role in team building, client engagement, investor management, and the growth of the company.
Sudeep is an energetic results-driven, seasoned senior executive. He has 21+ years of experience in a broad range of methodologies and practices, including requirement identification and management, product management, architectural design, product development, quality assurance, project management, UI testing, and technical and organizational leadership experience.
Recently, The U.S. Patent and Trademark Office (USPTO) awarded ThoughtSphere a US Patent for its data management environment which adapts to various data structures. Both the founders Sudeep and Pankaj (CTO) are listed on the patent. “However, the accomplishments I am most proud of are the ones we share with the clients when they go live and share the benefits of the technology our team has built,” mentioned Sudeep.
Unparalleled Cloud-Based Product
ThoughtSphere’s dedicated team includes individuals who have gained years of experience working with the leading global Contract Research Organizations (CROs) and Clinical providers. The company’s unparalleled services help eliminate the two biggest challenges in clinical trials—integrating disparate clinical and operational data and making that data accessible for use with existing tools for analytics and visualizations.
ThoughtSphere’s comprehensive approach towards clinical data analytics is different yet approachable. Its cloud-native platform has been patented as it leverages AI and ML to provide an innate view of clinical trial data by ingesting data from different sources or formats. The platform is truly intuitive and easy to use for a business user. Along with that, ThoughtSphere also assures quick cloud implementation to its clients.
At the core of the platform is ClinHUB, the patented source-system-agnostic data collation and aggregation hub. The AI & ML-enabled product can be deployed in days or weeks. ThoughtSphere’s other offerings include a risk-based monitoring and analytics software product – ClinACT, budget planning, and site payments – SPACE, and data management, review, and reconciliation software – DMSphere. These offerings formulate the company’s unique offerings.
With ThoughtSphere’s innovative platform, pharma and biopharma companies, medical device sponsors and CROs can aggregate operational and clinical data to enhance efficiency and effectiveness in the clinical trial processes. It also allows the reduction and optimization of clinical development costs while providing real-time actionable insights for effective risk-based monitoring (RBM).
2020: Rising to Aid
Due to the onset of the COVID-19 pandemic, the biotech industry had to rapidly adapt to various challenges. Initially, ThoughtSphere had to tackle the uncertainties relating to a potential economic downfall. However, the company soon was able to demonstrate the value proposition to the clients. It offered its SaaS cloud platform at no cost for the year 2020 to help accelerate the clinical trial process for COVID-19. ThoughtSphere has been working remotely with its clients ever since.
“Post-pandemic, we have been able to deliver successful outcomes for our clients—deploying solutions to their problems virtually,” said Sudeep. Presently, ThoughtSphere has truly transformed into cloud-based operations—quickly pivoting its operations and clients into a virtual data-based ecosystem. This has successfully demonstrated the power of cloud-based biotech solutions to the world. Presently, the company is consistently implementing and deploying innovative technologies to counter the challenges that entail.
Leaping with Faith
ThoughtSphere’s primary focus has always been to devise a technological solution to enable the transition to decentralized trials and enhance focus on patient centricity. To fulfill its goal efficiently, the company has started its research and development on AI-driving protocol designs. These protocols are set to automate the study-build process and improve the study design to reduce duplicate work and inconsistencies. It will also be using machine learning to analyze large data sets and understand the value along with gleaning insights in the clinical trial data.
Leveraging these quick proof points and a strong increase of interest in out-of-the-box solutions related to cloud platforms, ThoughtSphere is driving forward with dedication. The company is rapidly helping transform the industry as it aims to onboard more clients to its cloud-based offerings and research. It is set to team up with vendors sharing a similar vision to create new collaboration models for the benefit of the life sciences industry and customers. The industry is also realizing the business potential of the company’s cloud platform. Numerous experts, CROs, and partners of ThoughtSphere are now eager to explore the extent of the services of the company.“We have high expectations for 2021 and beyond because we fundamentally believe that we’re powering the next wave of data-driven decisions in life sciences R&D,” revealed Sudeep.