WALTHAM, Mass., June 18, 2020 (GLOBE NEWSWIRE) — Danforth Advisors, LLC, the life science industry’s leading resource for operational accounting, finance support and strategic CFO advisory, today introduced a Clinical Business Operations (CBO) practice designed to improve efficiency, minimize risk and derive the best possible value from outsourced clinical development programs.
Given the high costs and stakes of outsourced clinical trials, expert attention must be paid to the strategy, structure and management of the outsourcing process – from contract research organization (CRO) bidding and selection to vendor oversight and proper coordination with accounting. In smaller organizations, these tasks commonly fall to clinical operations teams, diverting attention away from study execution. Danforth’s CBO practice unburdens internal resources and brings specialized expertise in outsourcing strategy, contracts and negotiation to protect sponsors’ investment in outsourced programs. Beyond conserving capital, this results in contracts that incentivize performance, account for risk and facilitate timely issue resolution to minimize surprises. As clinical studies gradually resume in the wake of COVID-19, the Danforth team can restructure existing agreements to better suit sponsors’ revised objectives or timelines.
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