Enterprise Ireland grant awarded to ICON to further enhance artificial intelligence capabilities

ICON plc, (NASDAQ: ICLR) a world-leading clinical research organisation powered by healthcare intelligence, today announced the expansion of its portfolio of artificial intelligence (AI) tools that deliver efficiencies across the clinical trial process, including study startup, document management, resource forecasting and metrics reporting.

ICON has invested significantly in its AI and digital capabilities through the establishment of its AI Centre of Excellence. The centre, which comprises a dedicated team of data scientists, engineers and domain experts, is responsible for developing and deploying AI solutions that accelerate trials, enhance data and optimise operational efficiencies. The centre is supported by an AI Governance Committee, which oversees ethical, legal and data privacy standards in the deployment of new solutions.

The latest solutions to be launched are:

• iSubmit, which automates the clinical trial document management process. It uses AI to improve compliance, reduce the burden on clinical project teams, and manage documents in an efficient and accurate way based on defined rules.
• Mapi Research Trust COA leverages AI to remain current with latest Clinical Outcome Assessments (COAs) from public sources in near real-time. It provides comprehensive intelligence to support optimal clinical trial protocols/designs.
• FORWARD+ is an AI-enabled capability that provides industry-leading visibility into resource demands, allocations and forecasting. FORWARD+ ensures efficient resource management through the clinical trial process.
• Study Start-up Site Contracts is an AI-enabled capability that streamlines the clinical contract drafting process by leveraging historical clinical contracts in order to create comprehensive near final draft contracts.
• OMR AI Navigation Assistant empowers operational clinical study metrics with generative AI to provide industry-leading analytics to transform data into business insights.

Based on its success to date in implementing innovative AI solutions for its customers, ICON plans to further enhance its award-winning capabilities in how AI can drive productivity and efficiencies in clinical trials, with support from Enterprise Ireland.

This sustained focus on investment in AI solutions by ICON will support its customers as they look to overcome some of the challenges in realising the potential of AI in drug development. A recent ICON survey of biopharma companies found that 13% of respondents indicated that while AI and digital technologies are being heavily used in single development programs, it is challenging for organisations to systemically incorporate them, possibly due to the complexity of managing such strategic, enterprise-scale digital disruption.

Tom O’Leary, CIO at ICON, commented: “Our research indicates that while the potential of AI to transform the drug development process is widely acknowledged, realising this potential at scale will take time and investment. As a leading clinical research organisation, it is our role to innovate the clinical trial process to support our customers in delivering new medicines to patients faster. We’re pleased to launch these additional new solutions, developed in a responsible and comprehensive way, which will deliver faster, smarter and more reliable outcomes for our customers.”

Leo Clancy, CEO, Enterprise Ireland, commented: “Enterprise Ireland is delighted to support ICON in advancing its AI capabilities, which are driving significant innovation in the clinical trial process. By investing in cutting-edge technologies, ICON is not only enhancing efficiency and compliance but also accelerating the development of life-saving treatments. This partnership exemplifies how Irish companies are leading the way in leveraging AI to address global challenges in healthcare and deliver meaningful impact for patients worldwide.”

ICON’s latest AI solutions complement its existing multi-award-winning AI tools. These include One Search, which enables access to multiple data sources and provides the visualisation and tools necessary for optimum site identification, based on ICON and industry data of site capability, experience and performance. ICONex maps out global networks of key opinion leaders across therapeutic areas, reducing the time it takes to identify the most influential experts for clinical trials from weeks to minutes. Cassandra predicts post-marketing study requirements early, allowing for proactive planning and reducing the risk of regulatory delays.

For further information please visit: www.iconplc.com/ai.

About ICON plc

ICON plc is a world-leading healthcare intelligence and clinical research organisation. From molecule to medicine, we advance clinical research providing outsourced services to pharmaceutical, biotechnology, medical device and government and public health organisations. We develop new innovations, drive emerging therapies forward and improve patient lives. With headquarters in Dublin, Ireland, ICON employed d approximately 42,250 employees in 106 locations in 55 countries as at September 30, 2024. For further information about ICON, visit: www.iconplc.com.

ICON/ICLR-G

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