Contract Network develops an AI-powered collaborative platform for clinical trial agreements, enabling stakeholders to streamline negotiations and reduce contract processing time by up to 80%. By centralizing compliance and critical terms from the first draft, the platform enhances transparency and efficiency, minimizing reliance on lengthy email exchanges.
Funding
$10.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TVFounders
Product
Problem
Negotiating clinical trial agreements is a slow, complex process involving multiple stakeholders and lengthy email exchanges, leading to delays in critical research and increased administrative costs. Tracking compliance and key terms across numerous contracts is challenging, often resulting in missed deadlines and potential regulatory issues.
Solution
Contract Network offers an AI-powered contract collaboration platform designed to streamline the negotiation and management of clinical trial agreements. The platform centralizes all communication and contract data in one secure location, reducing reliance on email and improving transparency for all parties. By leveraging generative AI and market data, the system identifies key negotiation points and provides insights to accelerate decision-making. The platform captures critical compliance points, commercial terms, and deadlines from the initial draft, making them readily accessible throughout the contract lifecycle.
Target Audience
The primary target audience includes pharmaceutical companies, clinical research organizations (CROs), hospitals, and legal advisors involved in clinical trial agreements.
Features
- AI-driven insights that highlight key negotiation points and potential roadblocks
- Centralized platform for all stakeholders to collaborate on contract terms
- Native capture of critical compliance points, deadlines, and deliverables from the first draft
- Secure, role-based access controls to protect sensitive information
- Real-time tracking of contract status and compliance obligations
- Integration with existing legal and regulatory systems
- Generative AI to accelerate contract drafting
- Metagreement™ software to ensure efficient collaboration