The document discusses how clinical research was impacted by the economic recession through mergers, closures, layoffs and pipeline culling. It describes how study brokers can help sponsors/CROs find investigators efficiently and help investigators find new study opportunities. Study brokers maintain databases of investigators and screen studies to match sponsors' needs, helping to fill unused investigator capacity and maintain cash flow. Brokers provide value to both sponsors and investigators by expediting investigator recruitment without cost to sponsors.
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1. How to Use Study Brokers to Find
Sites and Studies
Presented at MAGI’s 2009 Clinical Research
Conference WEST
Oct 4-7, 2009
Joe A. Bollert, PhD
President
2. Unusual Circumstance: Economic
Recession Affects Clinical Research
Usually a recession proof industry
Significant disruption in clinical research caused by
mergers, closures, layoffs and pipeline culling
Dramatically impacted all parties
3. Challenges for Sponsor & CRO
Personnel
Increased pressure to do more with less personnel
Increased pressure to expedite trials
Increased pressure to find productive sites
4. Challenges for Investigator & Site
Personnel
Study delays/cancellations > unused site capacity >
increased site overhead and decreased cash flow
Big problem for sites
Personnel & domain name changes @ sponsors &
CROs > loss of contacts for new business-
relationships disrupted
Big problem for sites
5. What is needed?
Sponsors & CROs need faster access to experienced
investigator with unused capacity
Investigators & sites need access to new study
opportunities to maintain staff and cash flow
Study brokers can fill both niches
6. What is a study broker?
Typically a study broker acts as a middle man
connecting Sponsors & CROs with Investigator sites
Simple Business Model
Services are free to sponsors & CROs
Investigators pay broker a fee if a study is placed
7. What does study broker do?
Monitors drug development for clinical trial
opportunities
Solicit assignments from extensive contacts with
sponsor & CRO personnel
Offer study opportunities to their database of
experienced, nonexclusive investigators
Invest significantly in development & maintenance of
site, sponsor and CRO contacts
8. What are study broker objectives?
Good match for sponsor/CRO and site
Successful investigator performance
Repeat business from both sides
ILS: 8 years, 285+ sponsors & CROs, 600+ projects ~80%
repeat business
9. Broker is Different from SMO/TMO
Broker usually not involved with regulatory
documentation
Sponsor or CRO handles this directly
Broker usually not involved with contract negotiation
Site negotiates direct with Sponsor or CRO
Broker usually not a conduit for grant cash flow
Sponsor or CRO pay site directly
10. Experienced Study Broker Can Be
Reality Check
Experienced study broker is valuable resource
Sponsors & CROs
Investigators & sites
Handled many projects for many sponsors & CROs
Multiple therapeutic areas
Multiple practice settings
Insight into investigator needs & opinions
Insight into sponsor & CRO needs & opinions
Broker can be value added partner to all parties
11. How Sponsors & CROs Use
Brokers to Find Investigators
Contact Study Broker
Define investigator & patient population needed
Provide protocol synopsis
Specifications
# of investigators needed
# of patients needed per investigator
# of months for patient recruiting
approximate grant per patient
12. How Sponsors & CROs Use Brokers
to Find Investigators (Cont.)
Identify protocol or site problem areas
Identify special equipment or procedures
Identify any unique issues
IRB requirements: local or central
Prestudy meeting requirements
13. How Sponsors & CROs Use Brokers
to Find Investigators (Cont.)
Broker contacts appropriate investigators
Presents brief description of study specifications
Confidentiality maintained in contacting investigators
Sponsor & drug not identified
Screens CVs and Site Questionnaires of interested
investigators
Submits to sponsor
Sponsor takes over and follows up directly with
investigator
14. Sponsor Benefits of Using Study
Broker
Sponsors & CROs get rapid access to experienced
investigators with unused capacity at no cost
Save time, resources and money
Uninterested investigators screened out
Deal only with interested investigators
Leverage broker contacts with sites
15. How Investigators Use Brokers
to Find Studies
Register site profile with each study broker
Update profile if additional medical specialties join
the site
Review study opportunities when presented
Carefully evaluate study & patient population required
Ask broker questions on issues needing clarification
Confirm if interested- time is usually critical
Follow broker specific procedures to get in front of
sponsor or CRO
16. Why Sites Use Brokers
Improved Study Opportunity Flow & Cash Flow
More study options > site make better choices
Accept studies best suited to site
Better performance
Increased revenue
Decline studies not suited
Perform poorly if taken
Loose money if poorly performed
17. Why Sites Use Brokers (Cont.)
Site business development capacity busy
Feasibilities
Negotiating contracts & Budgets
Sites often have little time for prospecting
Disruption in industry contacts > prospecting
even more important
20. Broker Fees (Cont.)
Site Pay – usual scenario
Typically 10-20% of Contract Value
% varies between brokers
Terms may vary between brokers
No cost to site if opportunities are not found
21. Broker Fees (Cont.)
Sponsor Pay
Rare disease ~ unpredictable patient numbers
West Nile Virus
Hereditary Immune Deficiency
NIH Stroke Prevention Study
Unusual requirement/challenges
Patients coming from sponsor arranged referral site
22. Key Point for Site
Paying broker for first study from new sponsor/CRO
> opportunity to perform
Good performance > additional new study
opportunities with no broker fee
Amortize initial broker fee over future business
Look at every brokered study as opportunity to
develop a long term client
23. 8 Broker Fee Questions
Ask each broker the following: (ILS answers used)
1. What if site signs up & decides not to do study?
Broker fee owed only if site commits to sponsor
2. What if 2 brokers submit a site?
Sponsor can specify who gets credit
3. Who negotiates final budget?
Site
4. What if site negotiates a higher grant?
Broker fee does not change
24. Broker Fee Questions (Cont.)
5. What is cash flow process?
Sponsor > site
6. What if site fails to perform?
Broker fee still owed
7. What if sponsor brings additional studies directly to
site?
No fee owed to broker
8. Does broker charge site and sponsor on same project?
No
25. Site Benefits of Using Study
Broker
Investigators & sites get access to new study
opportunities to maintain staff and cash flow
No cost to be in broker database
No cost to review study opportunities
Cost effective - pay only if study is placed
26. Site Benefits of Using Study
Broker (Cont.)
Broker puts your site in circulation
Repeat business with no fee owed to broker
New business from other project teams
Leverage broker contacts with sponsors & CROs
27. Problem Solving with Sponsors
& CROs
Unrealistic time lines
Broker experience can convey anticipated investigator
response
Unrealistic budget
Broker experience can convey anticipated investigator
response
Sponsor or CRO slow to respond after site submission
Broker action can prevent investigator loss of interest
28. Problem Solving with
Investigators & Sites
Screening for specific site capabilities: experience,
equipment, special procedures & services
Broker screens before submission to sponsor 0r CRO
Site slow to respond jeopardizing study opportunity
Broker action stimulates response
Site files incomplete Site Questionnaire
Broker action secures missing information before submission
Broker Fee based on potential value ensures site will give
priority & maximize performance
29. Clinical Study Brokers
Investigator Location Services
www.invlocate.com
20,000+ investigator profiles/12,000+ industry contacts
Principal Link
www.principallink.com
2,500+ investigator sites/1,600+ industry contacts
Investigator Support Services
www.researchsite.net
1,200+ investigator sites/9,000+ industry contacts
30. Conclusion
Sponsors & CROs can use brokers to expedite
investigator recruitment
Free service
Call your broker today
31. Conclusion (Cont.)
Investigators & sites can use brokers to fill unused
capacity
Accept projects when you need business:
90% of something is better than 100% of nothing
Decline projects when you are at capacity
Evaluate & register with appropriate brokers
32. Contact Information
Joe A. Bollert, PhD
President
Investigator Locations Services, Inc.
1280 Bison St.
Suite B9-543
Newport Beach CA 92660
949-417-0437 x179
jbollert@invlocate.com