Compass Point Research Company Profile

Background

Overview

Compass Point Research is a full-service clinical and translational research management and consulting firm specializing in facilitating industry-sponsored clinical trials for healthcare providers. Founded in 1996 by Dr. Lori A. Nesbitt, the company has pioneered the integration of clinical trials into provider-based hospitals and physician groups, serving over 200 institutions nationwide.

Mission and Vision

The company's mission is to democratize access to clinical trials, enabling healthcare providers of all sizes to participate in and benefit from industry-sponsored research. By partnering with major pharmaceutical companies, Compass Point Research aims to enhance patient care, support medical innovation, and contribute to the advancement of medical science.

Primary Area of Focus

Compass Point Research focuses on managing and implementing clinical trials across various therapeutic areas, including oncology, cardiology, and neurology. Their services encompass clinical operations, compliance, marketing, and financial management, providing a comprehensive solution for healthcare providers to engage in clinical research.

Industry Significance

By bridging the gap between pharmaceutical companies and healthcare providers, Compass Point Research plays a crucial role in expanding access to clinical trials, thereby accelerating the development of new therapies and improving patient outcomes.

Key Strategic Focus

Core Objectives

Expansion of Clinical Trial Access: Facilitate the participation of community-based healthcare providers in industry-sponsored clinical trials.

Operational Excellence: Offer end-to-end management of clinical trials, ensuring efficiency and compliance.

Partnership Development: Forge strong relationships with pharmaceutical companies to provide a diverse pipeline of clinical trials.

Specific Areas of Specialization

Clinical Operations Management: Oversee all aspects of clinical trial execution, from staffing and patient recruitment to data management.

Regulatory Compliance: Ensure adherence to FDA, OHRP, CMS, and HIPAA regulations.

Marketing and Patient Recruitment: Develop strategies to recruit and retain patients for clinical trials.

Financial Management: Utilize proprietary cloud-based software for budget modeling, accounting, and reporting.

Key Technologies Utilized

Clinical Trial Management System (CTMS): A proprietary web-based platform for tracking patient activity and managing trial data.

Cloud-Based Financial Management Tools: Software solutions for budgeting, accounting, and reporting.

Primary Markets Targeted

Healthcare Providers: Hospitals and physician groups seeking to participate in clinical research.

Pharmaceutical Companies: Organizations looking to expand their clinical trial networks.

Financials and Funding

Funding History

Specific details regarding Compass Point Research's funding history, total funds raised, and recent funding rounds are not publicly disclosed.

Notable Investors

Information about individual investors or investment firms backing Compass Point Research is not publicly available.

Utilization of Capital

While specific utilization details are not disclosed, it is likely that capital has been allocated towards expanding clinical trial operations, enhancing technological infrastructure, and strengthening partnerships with pharmaceutical companies.

Pipeline Development

Key Pipeline Candidates

As a clinical trial management firm, Compass Point Research does not develop its own pharmaceutical products. Instead, it manages a diverse range of clinical trials across various therapeutic areas, including oncology, cardiology, and neurology.

Stages of Clinical Trials

The company oversees clinical trials at all phases, from early-phase (I/II) studies to late-phase (III/IV) trials, depending on the needs of their pharmaceutical partners.

Target Conditions

Compass Point Research manages trials targeting a wide array of conditions, such as:

Oncology: Various types of cancer.

Cardiology: Heart diseases and related conditions.

Neurology: Neurological disorders.

Anticipated Milestones

Specific timelines for anticipated milestones are not publicly disclosed, as they are contingent upon the schedules of the pharmaceutical companies and the progress of individual clinical trials.

Technological Platform and Innovation

Proprietary Technologies

Clinical Trial Management System (CTMS): A web-based platform designed to streamline the management of clinical trials, including patient tracking and data collection.

Cloud-Based Financial Management Tools: Software solutions that facilitate budgeting, accounting, and reporting for clinical trials.

Significant Scientific Methods

Regulatory Compliance Framework: Adherence to FDA, OHRP, CMS, and HIPAA regulations to ensure ethical and legal conduct of clinical trials.

Patient Recruitment Strategies: Developing and implementing marketing strategies to recruit and retain patients for clinical trials.

Leadership Team

Lori A. Nesbitt, PharmD, MBA

Position: Founder & CEO

Professional Background: Dr. Nesbitt founded Compass Point Research in 1996 after recognizing the need for increased access to clinical trials. She holds a Bachelor of Science and Doctor of Pharmacy degrees from Purdue University and an MBA from Tulane University.

Cora M. Sonnier, CCRC

Position: SVP of Operations

Professional Background: Cora provides enterprise-wide oversight and daily management of clinical research operations, including trial implementation and participant enrollment. She is a Certified Clinical Research Coordinator and an active member of the Association of Clinical Research Professionals.

Jessica Magenheim, BS

Position: Clinical Trials Operations Manager

Professional Background: Jessica identifies and fosters research opportunities for multispecialty community providers, managing practice-based interventional and non-interventional clinical research. She holds a Bachelor of Science in Health Education from the University of Florida and is a Certified Clinical Research Coordinator.

Lee Gipson

Position: VP of Marketing

Professional Background: Lee oversees marketing strategies to recruit patients and manage the clinical trials pipeline, contributing to the company's growth and visibility.

Competitor Profile

Market Insights and Dynamics

The clinical trial management industry is characterized by a growing demand for efficient and compliant trial execution. Healthcare providers are increasingly seeking partnerships to participate in clinical research, driven by the potential for enhanced patient care and revenue generation.

Competitor Analysis

Key competitors in the clinical trial management space include:

Parexel International: A global provider of comprehensive drug development and regulatory consulting services.

Covance: A contract research organization offering drug development and animal testing services.

Medpace: A full-service clinical contract research organization providing outsourced services.

Strategic Collaborations and Partnerships

Compass Point Research has established partnerships with major pharmaceutical companies such as Pfizer, Roche, and Gilead, enhancing its capacity to offer a diverse pipeline of clinical trials to healthcare providers.

Operational Insights

By leveraging proprietary technologies and a comprehensive service model, Compass Point Research differentiates itself through:

Integrated Service Delivery: Providing end-to-end management of clinical trials, from patient recruitment to data management.

Regulatory Expertise: Ensuring compliance with complex regulatory requirements, thereby reducing risk for healthcare providers.

Strategic Opportunities and Future Directions

Strategic Roadmap

Compass Point Research aims to:

Expand Service Offerings: Introduce additional services such as data analytics and post-market surveillance.

Enhance Technological Capabilities: Invest in advanced technologies to improve trial efficiency and data accuracy.

Broaden Market Reach: Establish partnerships with a wider range of healthcare providers and pharmaceutical companies.

Future Business Directions

The company is exploring opportunities to:

Diversify Therapeutic Areas: Engage in clinical trials across new medical specialties.

International Expansion: Extend services to healthcare providers in other countries.

Opportunities for Expansion

By capitalizing on the growing demand for clinical trial participation among healthcare providers, Compass Point Research is well-positioned to expand its partnerships and service offerings, contributing to the advancement of medical research and patient care.