16 Oct 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Vedic Lifesciences launched an innovative and unique client-CRO model, called ACElerator, for conducting human studies to substantiate product claims. Under this initiative, Vedic will train its client's in-house team on the importance and methods of collecting organized and systematic human-use data.
All essential clinical study documentation, statistical analysis and report writing services to make the data publishable will be provided by Vedic. Thus the project's tasks and responsibilities will be mutually shared between Vedic and the client in order to ensure optimum utilization of the limited resources at some client companies. Vedic expects the model to ensure greater client engagement, thus facilitating better business alliance and greater efficiency in conducting the clinical study.
ACElerator can be used for collecting efficacy data from patients in a clinical setting under supervision of a clinician or from a healthy population in the general marketplace. Besides, this collaborative initiative, also aims to strengthen the talent pool within the clients' teams through training and mentoring for all future studies initiated by the client. This can help build significant expertise for the clients' in-house teams.
Vedic is currently proposing this model globally to companies within the nutraceutical, dietary supplement, and ayurvedic and traditional medicine industry. Companies that are considering expansion of their operations, geographies and product pipelines; can optimally utilize the new business model.
Mr Jayesh Chaudhary, CEO, Vedic Lifesciences, said that, "ACElerator has been developed after brainstorming the feedback, opinions and criticism we received from all our clients over the past decade. This model is a definite win-win situation. Clients can proactively adopt this strategy to become self reliant and be well equipped for their future clinical trial needs. This will surely provide them a distinct edge over their competitors."