From 2013 through 2022, the FDA’s Center for Drug Evaluation and Research has averaged about 43 novel drug approvals each year. Paramount to these new drugs gaining FDA approval is finding enough patients to complete a clinical trial. That’s where Wauwatosa-based Splash Clinical comes in.
The tech services company, started in 2011, has created a unique approach to patient recruitment that combines digital and social media, analytics, and a deep understanding of epidemiology.
“We make it really easy for patients to become aware of trials and for them to enroll into clinical studies – and we do that on a global scale in about 30 countries,” said Matt Teuteberg, president and chief executive officer of Splash Clinical.
Each clinical study commissioned by a drug company has a required number of patients. Sometimes that number can reach into the thousands. Teuteberg likens Splash Clinical to a concierge that helps patients determine their eligibility for certain clinical studies and then enroll.
“Unique to Splash is that medical science lens and approach,” he said. “We’ll build out an epidemiological model on a disease. Alzheimer’s would be far different than Lupus. Then we’ll go into the world of social media and look at any platform that meets our targeting needs.”
The need for Splash Clinical’s services is growing exponentially. The company has seen a 429% growth rate in revenue over the past three years and 82% workforce growth.
Part of this growth can be attributed to an increased presence in the Asia-Pacific region, specifically Singapore. Teuteberg said in that corner of the globe, drug research is ramping up and there’s pent up demand due to the large populations that live there.
In 2022, the global clinical trials market was valued at $53 billion. By 2030, that number is expected to grow to $85 billion.
“They want to do research and have it be representative of people around the world,” he said. “Up until this point a lot of regulations, a lack of know-how and technology has kept a lot of our competition out. Splash has always been at the forefront of understanding compliance, technology and how to reach patients.”
Teuteberg also highlights the company’s innovation as a driving force behind its growth. A new innovation Splash offers is a call center service, designed to perform secondary phone screenings of patients and direct them to appropriate trial sites. The service leverages scheduling technology and analytics.
Several new employees will need to be added to support the work being done within the call center, and to support ongoing software development within the company. Splash currently has 40 employees and Teuteberg expects that number to grow by 20% to 30% in the next year.
“The need to find patients is critical. If patients aren’t found, drugs get delayed,” he said. “It has an effect on the entire world in getting some of these life-changing therapies.”
