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Phase 1 Business Plan for Oncology Clinical Trial Solution
The need for new targeted therapies to effectively treat newly diagnosed cancer patients is imperative with potential life-saving implications. A common avenue by which patients receive innovative therapies is through participation in clinical trials. The aim of this project was to build a phase one business plan for a leading oncology diagnostics and information services company to develop a new oncology clinical trial technology solution to identify more patients for clinical trial matching. This phase one business plan outlines initial areas of focus for building the business; product, market, competition, strategy, revenue model, roadmap and milestones. Currently the company has clinical trial matching services that are manual and labor intensive. A new clinical trial technology solution will increase efficiency and decrease time spent to identify patients for clinical trials. This solution will utilize an internal patient database, advanced clinical trial matching software and a Just-in-time (JIT) network to match patients to appropriate clinical trials. The top three competitors in the market focus solely on utilizing molecular sequencing to find patients with late-stage solid tumor cancers who may be candidates for clinical trials. To compete in this market, the company will leverage an information platform containing one of the largest cancer testing database, covering the complete spectrum of oncology testing modalities for over 2.5 million patients with both solid tumor and liquid cancers. The ideal customer is small to medium sized community cancer centers and hospitals in rural settings who lack access to large academic medical centers. With over 4,400 established community cancer center and hospital customers, NeoNET Clinical Trial Solution will identify more patients for clinical trials. The technology solution will generate revenue indirectly by increasing clinical business and through a subscription-based revenue model allowing users to access an online portal with clinical trial matching services. Securing support and resource allocation from management is the primary goal for the phase one business plan. The company will define additional steps needed to move the product from concept to development in the phase two business plan. Strategic partnership opportunities to accelerate development and a detailed financial analysis will be conducted in the phase two business plan.