Mitsui & Co., Ltd. ("Mitsui", Head Office: Chiyoda-ku, Tokyo, President and CEO: Kenichi Hori) has invested USD 8 million in Lokavant Holdings Inc. ("Lokavant"), a US clinical trial intelligence technology company that improves the efficiency and quality of clinical trials for investigational medicines.
Lokavant, which was incubated by US biotech company Roivant Sciences Ltd. ("Roivant Sciences"), provides clinical trial intelligence that enables study teams to make data-driven decisions as well as risk-based quality management and monitoring services to pharmaceutical companies and contract research organizations (CROs).
Lokavant has developed novel technologies to manage clinical trial data from multiple sources, compare it with historical data to identify issues early, and monitor clinical trial progress in real-time using advanced predictive and AI powered models in order to improve clinical trial efficiency and performance.
Lokavant's tech-enabled solution directly tackles some of the most significant challenges in the pharmaceutical industry of bringing drugs to market, including growing research and development costs and inefficiencies in clinical trial conduct that have delayed product launches by several years. Lokavant's platform had reduced protocol deviations by 70% when deployed on Japanese studies.
Mitsui will use its expertise and network to help expand Lokavant's customer base and improve clinical trial efficiency for pharmaceutical companies and CROs in Japan and across Asia. Mitsui will also work with Roivant Sciences to explore further opportunities for data-based pharmaceutical development business and potential collaborations with partners within Mitsui's diverse business portfolio.
Mitsui believes it is important to transform the healthcare system into a more patient centric one, and promote the prevention of illnesses and create the environment, in where people can enjoy both physical and mental well-being. To establish "wellness" fulfilled by three key elements – healthcare, prevention and well-being – Mitsui is pursuing to create various businesses through integrating its tangible assets and digital solutions.
Wellness, the new wealth—We will create a brighter future in which the wellness we offer provides new wealth to people around the world.
|Lokavant Holdings Inc.
|Head Office Location
|New York, USA
|Provision of data monitoring and predictive analysis systems for pharmaceutical clinical studies
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Enhance quality of life”
Secure sustainable supply of essential products
Enhance quality of life
Create an eco-friendly society
Develop talent leading to value creation
Build an organization with integrity