Clinical research organization Icon has entered into a partnership with research technology company Advarra to launch a network of connected sites for clinical trials.
The partnership will combine Dublin-based Icon’s global clinical trial solutions with Advarra’s clinical trial, regulatory and electronic source data management systems, which are used by 50,000 investigators worldwide, according to a March 24 release.
The collaboration will allow Icon’s proprietary technology to operate within a shared environment, improving administration, speed and participation in its clinical studies. Maryland-based Advarra will also provide access to its AI platform, which delivers insights from its institutional review board and clinical trial systems to improve protocol design, forecasting and study planning.
Icon and Advarra will also work to expand clinical trial access by enabling more research sites in emerging markets by standardizing operations and reducing manual work. The companies aim to help study sponsors accelerate study timelines and engage a more geographically diverse patient population.
The Advarra partnership announcement comes six weeks after Icon revoked its 2025 financial guidance and launched an internal investigation after identifying potential accounting errors in its prior-year financial statements.
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A Feb. 12 news release said the investigation found Icon’s reported revenue for 2023 and 2024 was about 2% higher than it should have been. The company also said it would delay its fourth-quarter and full-year financial results until April 30. The announcement sent Icon’s stock down 37% at the time.
Slowing demand from Big Pharma has weighed on Icon and other CROs, though Icon still employs nearly 40,000 people across 55 countries.
