Velocity Clinical Research recently announced important additions to its senior leadership team including: Jeffrey Jensen, Senior Vice President, Operations; Jamie Wilkerson, Vice President, Finance and Craig M. Koch, Vice President, Business Development. They join president and Chief Executive Officer Paul Evans and Executive Chairman Bruce Tomason in setting a new standard of rapid data delivery in clinical trials matched with the highest level of patient care. These executive additions represent an incredibly well-rounded, deeply experience, savvy group.
Velocity Clinical Research (Velocity) represents a potential advancement in how clinical research is conducted. The venture was founded to address fundamental gaps in the clinical trials research market ecosystem. Patient recruitment and data delivery timelines are arguably the weakest link in the sector, with over 50% delays in drug development occurring at the site level. Velocity Clinical Research is poised to delivery substantial growth in 2019 while maintaining already excellent quality standards. Velocity’s growth will allow it to serve more customers and enhance its ability to break through conventional industry-standard metrics.
Dr. Paul Evans, President and CEO conveyed to TrialSite News that “Velocity Clinical Research focuses on the most persistently disappointing link in the clinical trials chain. If we are going to face this challenge head-on, we need the best people to do so. The company is new, but our sites and our people have over 20 years of history in this field. Clinical research is a mature industry, and the talent pool is deep. We look for industry experts with an entrepreneurial streak. Jeff, James, and Craig all bring this to the table.” By bringing in seasoned leadership at the operations, finance and business development Velocity now prepares to scale its’ organization. Dr. Evans is absolutely making the correct moves in signing up these experienced, well-balanced and entrepreneurially-minded executives.
TrialSite News believes Velocity represents an incrementally improved value proposition than the traditional site model. This firm isn’t just another private equity-backed site roll up market play. It is different. TrialSite News had the opportunity to speak with Dr. Evans and this writer and he share many overlapping past and present relationships. The credentials are serious. Evans conveys a purpose; a conviction and a confidence that only resonates from experience, knowledge and business wisdom. Plus, Dr. Evans is an entrepreneur—he possesses an internal spark that makes him not conventional. Hence Velocity Clinical Research represents a mission as much as a new type of business serving the clinical trials sector.
First, Velocity Clinical Research represents a new type of site organization. Purpose-designed, it drives four key principles including:
- Patient & community engagement affording localized care options
- Quality experience throughout the process
- Volume & breadth of therapeutic capability
- Sponsor engagement throughout the trial Lifecycle
Dr. Evans has a unique background with over two decades representing some of the world’s largest CROs and site, as well as sponsor engagement operations. Most small or even large research sites in the United States don’t include principals with this level of industry experience. The new additional leaders only make the team stronger.
In the U.S. market, Dr. Evans fundamentally understands patient recruitment represents a critical challenge even for incredibly well branded physician offices or health systems (excepting some high profile oncology programs for example who have more patients than they need). Dr. Evans and team have designed methodical and repeatable, localized patient engagement systems, processes and partnerships. Each site includes a local patient community engagement strategy and operational plan guiding therapeutic specific protocols. Think of it as if each site had its’ own built in patient recruitment organization.
So, as Velocity expands across the country first and foremost they deeply engage in the medical and patient community; they partner with physician networks, health systems and community-based organizations that bridge the gap between patients and clinical research activities. The patient experience reins supreme and Dr. Evans fundamentally understands this from decades of observing how clinical research stumbles into the same continual patient recruitment challenges.
For the breakthrough success, Velocity seeks to couple their ability to handle a breadth of research trials and therapeutic areas with the depth of their patient engagement platform and associated care option concierge service. Matching research supply with patient care option needs is the magic formula. The research market is prepared: presently over 100,000 clinical trials are run, spanning a great range of therapeutic conditions. Once Velocity evidences it first successful delivery TrialSite News suspects a rapid growth rate.
There is a tremendous need out there right now that can’t be fulfilled by the existing site models reports Dr. Evans. The skills, experience and knowledge required to scale an organization across a breadth of research therapeutic areas necessitates a research model that not only can embrace a diverse range of clinical trial—but can also seamlessly execute the research operation. Hence why Velocity Clinical Research is no ordinary private equity-based, site roll-up model. They understand four critical factors that must be addressed, and optimized; to improve patient recruitment and clinical trials throughput:
Patient Engagement and access to care options. By employing the Velocity proprietary patient engagement model–localized to the specific site region—over time they will develop a rich patient database that establishes local community leadership for clinical research as a care option
Clinical site operation designed to accommodate a wide array of clinical trial in many different therapeutic areas. This includes not only the appropriate staffing for site investigators, coordinators, etc, but also operational management that incorporates scalable people, processes and systems
- Sponsor partnership program that aligns with, and can scale with the largest tier 1 sponsors or their CROs with demonstrable performance track record over time
- Federated systems that support centralized processing of key activities such as contracting and administration
Velocity Clinical Research represents a new form of clinical research site organization. It owns and controls its’ own sites; it offers best-in-class community and patient engagement systems, processes and people. The firm is led by seasoned clinical research organization professionals that understand the ins and outs of big pharma and CRO contracting and partnerships multi-year and multi-program engagements. Moreover it carefully selects its sites for expansion—ensuring that the practice maintains a capability and commitment to operate across a range of clinical therapeutic areas. Finally, the leadership team understands the importance of a federated system model—enabling localized flexibility while ensuring centralized controls for quality, compliance and business efficiency purposes. Systems that are dedicated to supporting the promotion of quality, safety and site productivity.
Based Durham, NC, in the heart of the Research Triangle, Velocity Clinical Research is leading the way building a new site organization model focusing on patient engagement, therapeutic breadth, quality and scalable operations all the while building long term industry sponsor and CRO multi-year partnerships. Presently, Velocity owns three sites: one in Oregon, one in Florida and one in Ohio. Active patient engagement affords sponsor opportunities for clinical trials in a range of therapeutic areas from Allergy and immunology and CNS to Cardiovascular and Gerontology to Pain management and Psychiatry. For a full list see their website. TrialSite News believes the Velocity group will bring high impact, performing results to the largest global sponsors and CROs.
Velocity Clinical Research, headquartered in Durham, N.C, is a leading site organization for clinical trials, offering dedicated site capabilities to help biopharmaceutical and contract research organization customers find the right patients for their studies. With over 20 years of experience and more than 1700 studies completed, Velocity sites have refined their patient recruitment strategies while maintaining a focus on delivering timely and reliable data quality and placing the care of the patient at the heart of everything they do. For more information visit our website.