“Most patients with cancer receive their care through community settings. Despite studies indicating that more than 70% of patients are willing to participate in clinical trials, fewer than 5% of patients with cancer receive treatment within the context of a clinical trial.” — Barriers to Clinical Trial Implementation, JAMA Network.
Despite the fact that $2 billion is spent annually on patient recruitment for clinical trials, approximately 80% of clinical trials are delayed or closed due to problems with recruitment. Improvements in clinical trial administration — from data collection to recruitment — can dramatically accelerate the delivery of life saving treatments to patients, especially in underserved communities. This is why we invested in Paradigm.
Pardigm’s mission is to reduce clinical trial burden and expand patient access to the best possible care by increasing patient enrollment, improving screening access using ML models, accelerating global trials, improving diversity and inclusion, and expanding patient access.
Since inception in 2023, Paradigm has been building a robust ecosystem of leading health centers. They recently announced four strategic partnerships that significantly expand their reach domestically and globally. Paradigm recent strategic partnerships:
Japan’s National Cancer Center, one of the most prestigious institutions in Japan. This partnership extends the global presence to expand and democratize access to cancer clinical trials across Japan. The National Cancer Center Hospital East conducts more than 500 clinical trials annually and leads Japan’s largest cancer genomic screening network called LC-SCRUM-Asia across more than 150 hospitals. Paradigm will streamline clinical trial operations nationwide, making it easier for global pharmaceutical companies to include Japanese clinical trial sites.
New York Cancer & Blood Specialists (NYCBS), one of the largest and most respected oncology networks. NYCBS brings 64 world class cancer care centers directly to local communities, sparing patients difficult travel during their cancer treatments. Paradigm is expanding the capacity and efficiency of NYCBS’ clinical trial and research program to ensure that more patients can access life-saving therapies without the barriers of extensive travel or switching providers.
Sheba Medical Center, Israel’s largest hospital, and ARC Innovation. This partnership will expand the reach and efficiency of all of Sheba’s related clinics by streamlining operations, patient screening, recruitment, and data collection. Sheba is a widely used site for biopharma clinical trials and Israel is considered one of the most sophisticated and technology-advanced healthcare systems in the world.
Florida Cancer Specialists and Research Institute (FCS) has 33 early and late-stage research locations and serves more than 3.4 million patients a year. FCS will deploy Paradigm’s technology platform to expand patient access to clinical trials as a care option. For biopharma trial sponsors, this partnership will enable trials to be conducted at scale across Florida, which includes a more diverse patient population.
Magnetic’s Perspective: At Magnetic Ventures, we identified clinical trial improvement through AI advances as a major priority for the portfolio. Our investment thesis that industry disruption across the healthcare ecosystem occurs through advances in technology continues to prove its merit. Paradigm was recently highlighted by OpenAI for the company’s innovation in using GPT-4 to improve patient access to clinical trials. In this case study, Paradigm’s generative AI approach was 10% more accurate than cutting-edge machine learning models. Critically, Paradigm’s OpenAI partnership required 90% less expert clinician time. Paradigm’s use of GPT-4 and natural language, dramatically improved the evaluation of patient medical records and has the potential to scan hundreds of patients per minute, compared with research coordinators and healthcare professionals who can manually screen 50 patients per day. These clinical trial efficiencies will enable healthcare workers to spend more time on patient care and significantly accelerate patient enrollment.
Paradigm is building an end-to-end clinical trial platform that is being adopted by healthcare networks across the world to enable equitable access to clinical trials for all patients, while enhancing trial efficiencies and reducing burnout and paperwork for healthcare providers. These new partnerships are a testament to deploying machine learning advances and technological solutions to the most pressing issues in the healthcare industry — accelerating clinical trials with the goal of delivering new therapies to patients quicker. #clinicaltrials #healthcareinnovation
Christine Aylward & Jillian Shaw, Magnetic Ventures