Cytel acquires MTEK Sciences
Cytel acquires MTEK Sciences to further expand its advanced real-world analytics (RWA) capabilities. The acquisition of MTEK is the latest step in Cytel’s journey to advance the field of modern data analytics.
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 commercialisation and better inform healthcare decision-making. As a result, many pharmaceutical companies are now looking to augment their clinical development and commercialisation processes through its utilisation.
Over the past 30 years, Cytel has been committed to facilitating more efficient and resourceful clinical development, including through pioneering the evolution of the adaptive clinical trial, an area MTEK has also excelled at. Cytel’s team includes more than 100 specialist programmers and applied statisticians with direct experience in the area of RWA — from health economics and outcomes research 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 commercialisation strategies.
MTEK Sciences specialises in using innovative methods such as machine learning models and Bayesian optimisation 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.
“Complex RWD sets are now abundant in the healthcare sector, opening up a wealth of opportunity for pharmaceutical organisations of all sizes,” said Joshua Schultz, Chief Executive Officer at Cytel. “Advanced and more sophisticated analytical methods and decision-modelling 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.”
Professor Edward Mills, Founding Partner and Director of MTEK, said: “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. 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.”
Professor Kristian Thorlund, Founding Partner and Director of MTEK Sciences, added: “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.”
November 6, 2019