Our Plans to Help Bring More Ophthalmic Treatments to Patients
It’s well known that almost 50% of Phase 3 trials do not meet enrollment criteria, and that almost 80% of all trials are delayed due to patient recruitment and retention problems*. This is an on-going challenge that the life sciences industry has struggled with for many years. At Lexitas, we believe there must be a better way. We think that vision care is simply too important to content ourselves with mediocre results.
In recent months, we’ve made substantial investments in our company and operations to help bring about a new paradigm. By focusing on three priority areas, we plan to make 2023 our most impactful year yet.
First and foremost, our plans are to expand globally to support studies outside of the US. Many of our trials already have a global component to them, typically conducted via partnerships with other CROs. Going forward, we are taking steps to enable us to conduct our global trials directly. This will substantially improve the client experience, as sponsors will no longer have to manage multiple vendors or contracts. All their studies will be managed by one project director, and they will receive comprehensive reporting from one source.
We are also rounding out our capabilities to provide an end-to-end service offering. The goal is to make it easier to commercialize eyecare innovations. From the dream all the way to drug, sponsors will have a true, ophthalmics-focused partner. This will include major investments in:
- Regulatory Affairs – our regulatory services are intended to help design and define a sponsor’s regulatory strategy, and they will span the program from IND all the way to NDA. Clients can expect 100% ophthalmic-focused regulatory guidance and support tailored to their unique needs.
- The Lexitas Reading Center – we are investing in our existing platform, the people and the processes, so we can execute at any stage and phase. Our Reading Center already eliminates handoffs with external resources, minimizing the possibility of errors that can cost time and money, and offers a customizable solution to meet each study’s needs. While we’re already proud of what we offer here, we look forward to expanding our capabilities even further.
- Posterior eye – As more innovation has shifted to the posterior segment of the eye in recent years, we’ve progressively developed our expertise as well. Already 50% of our studies focus on the back of the eye, and we anticipate that this will continue to grow. This also helps inform our approach to hiring the right talent with the right expertise.
A new management system
Last summer, we were acquired by QHP Capital, a growth-oriented investment firm. Since then, we’ve become part of the umbrella of life sciences companies that utilize the QHP management system. This proven system provides a framework for scalable growth, allowing us to focus on what’s most important. While most private equity firms acquire businesses with a eye on financial performance, the QHP management system anchors us to both driving growth and developing our culture.
What makes it so powerful is that we can now leverage the experience from a portfolio of other life sciences companies who have successfully implemented it. Some of these companies are routinely recognized among the best places to work in their respective fields, and that’s something we actively aim for as well. We meet often with executives of these companies to help us understand what made them succeed, and to see what lessons we can learn from them.
As a result of implementing the QHP system, we’ve been able to service our clients without disruption even as we’ve scaled rapidly. In addition to allowing us to service clients more effectively, we can also direct them to other QHP companies if they have a specific need to be addressed. Overall, it’s been a great step forward for us as our program expands.
Culture & values
Do our culture and values impact sponsors? Absolutely. There is a reason we have some of the lowest employee turnover rates in the industry. That definitely matters to project quality, continuity and completion. We directly attribute our ability to deliver projects on time and within budget to our phenomenal corporate culture. Our employees don’t just see this as another job. They want to stay and contribute.
We cannot expect to have success without a north star to guide us. For us, that north star lies in our values. We are 100% focused on ophthalmology, put people at the center of everything we do, and are purpose driven. Our clients often tell us that they can feel our culture and that it makes all the difference for them.
As we’ve grown significantly in the past year, we are making a conscious effort to embed our values into every aspect of our business. We want Lexitas to be the best place to work, because we know happy employees lead to happy customers. And this starts with hiring the right people. In fact, we have several open positions and we’re always looking for experienced people who espouse our values.
If you know anyone who is passionate about bringing new treatments to patients, please have them peek at our career page.