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MOORESTOWN, N.J., Dec. 17, 2020 (GLOBE NEWSWIRE) -- Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announces today it has entered into a partnership with Physiomics plc (AIM: PYC), the oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalized medicine solutions. Through this initiative, Physiomics’ personalized docetaxel model will be integrated into TRHC’s market-leading precision dosing solution, DoseMeRx®. Both parties expect positive feedback from this initial trial with the next step being a commercial agreement.
Cancer remains one of the leading causes of death in developed countries and one of the most significant areas of spend for health systems. There are many effective cancer drugs; but, it is well established that, given the same dose, variations between individuals mean that different amounts of drug reach their tumours.
Using measurements of the amount of drug in a patient’s blood to guide what dose they should receive has been shown to improve efficacy and reduce side effects. The tests, however, are difficult to obtain in oncology because they are expensive and not standardized. Physiomics’ personalized dosing models currently rely only on inexpensive, standard blood tests that could help doctors and pharmacists in making decisions about the dose of cancer drugs for individual patients. TRHC’s DoseMeRx enables healthcare providers to optimize dosing and streamline operations, reduce adverse drug events, and decrease costs. The unique DoseMeRx platform incorporates Bayesian science to guide the safe and effective dosing of 42 different drugs.
Physiomics Chief Executive Officer, Jim Millen, MD, said, “Initially, we will focus on the drug docetaxel, which is commonly used to treat prostate, breast and other cancers. However, one of our goals is to establish how this could potentially be extended to apply to other drugs and cancer types. We partnered with TRHC because its DoseMeRx solution has been the leader in the personalized dosing field for several years, and they have demonstrated the ability to not only lead the science, but to make it accessible for those who can benefit from it. We look forward to the results of the trial and potentially entering into a revenue generating contract in due course.”
TRHC Chief Scientific Officer Jacques Turgeon, BPharm, PhD, added, “The focus of the collaboration is on delivering better outcomes for cancer patients. Incorporating this new science into DoseMeRx will enable clinicians to more effectively predict the timing of serious adverse effects, such as neutropenia, that are commonly observed in patients receiving chemotherapy. We have seen a great deal of success in infectious diseases through the use of DoseMeRx, and we are excited to expand this into oncology.”
Charles Cornish, TRHC’s Executive Vice President, Hospital Business Unit, said, “Through this partnership, we’re bringing together Physiomics’ expertise in oncology precision medication dosing with our experience in developing easy-to-use clinical decision support software. Combined with our network of healthcare providers throughout the United States and the world, this partnership will further support the safe use of these medications in clinical practice.”
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) (NASDAQ:TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize performance to improve patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payers, providers, and other healthcare organizations. For more information, visit TRHC.com
DoseMeRx® is a Tabula Rasa HealthCare solution and the first precision dosing software developed specifically for clinical practice. DoseMeRx's clinical decision support solutions empower healthcare providers to optimize dosing of high-risk parenteral medications to streamline operations, reduce adverse drugs events, decrease costs, and improve patient outcomes. For more information, visit doseme-rx.com
Physiomics plc (AIM: PYC) is an oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions. The Company’s Virtual Tumour™ technology uses computer modelling to predict the effects of cancer drugs and treatments to improve the success rate of drug discovery and development projects while reducing time and cost. The predictive capability of Physiomics’ technologies have been confirmed by over 80 projects, involving over 40 targets and 70 drugs, and has worked with clients such as Merck KGaA, Astellas, Merck & Co and Bicycle Therapeutics.
This press release includes forward-looking statements that we believe to be reasonable as of today’s date, including statements regarding Medication Risk Mitigation technology. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; and the other risk factors set forth from time to time in our filings with the SEC, including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 2, 2020, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website ir.trhc.com or upon request from our Investor Relations Department. Any forward-looking statement speaks only as of the date on which it was made. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
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Dr Jim Millen, CEO
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