ThoughtSphere, a fast growing, cloud-based clinical data hub and analytics SaaS company, today announced two new additions to its senior leadership team. Vasu Vallurupalli, EVP Strategy and Business Development, and Richard Clements, SVP and Chief Marketing Officer, have joined ThoughtSphere to accelerate the company’s growth. The clinical trial market is enormous with R&D spending estimated to be $162 billion by the year 2020, including $26 billion projected for monitoring and $10 billion for data management.
The number and complexities of clinical studies are increasing, while managing study data remains a time-consuming, manual process and access to real-time data for analytics and visualization is mostly lacking. The ThoughtSphere Cloud Platform allows biopharma, medical device sponsors and contract research organizations to reduce clinical development costs, optimize and enhance the efficiency and effectiveness of clinical trial processes, and gain near real-time actionable insights.
“Customers are already successfully developing and delivering faster and smarter patient treatments using the data science, artificial intelligence and machine learning expertise built into our platform,” said Sudeep Pattnaik, co-founder and CEO. “The expertise and exceptional track records Vasu and Rick bring to ThoughtSphere will help further our growth by ensuring our go-to-market and customer successes and the establishment of deep customer and partner relationships.”
Vasu brings more than two decades of business development experience to ThoughtSphere. Previously he held leadership roles at successful data analytics and technology firms including Siperian (acquired by Informatica), Informatica and IBM. Most recently Vasu played a vital role in developing and driving the growth of Reltio, a leading modern data management vendor. At ThoughtSphere, he will be responsible for overall go-to-market strategy, business development for direct and indirect channels, and aligning revenue growth objectives to the company vision and mission.
“ThoughtSphere has a huge opportunity to help customers transform clinical trial processes using data science and data driven decisions,” said Vasu. “Our current customers and partners are already realizing significant efficiency gains and cost reductions with our platform and I look forward to continuing to drive customer and partner success and ThoughtSphere’s growth in the market.”
Rick joins ThoughtSphere after nearly two decades in marketing leadership at early stage, high growth companies in healthcare and commercial markets. Prior to ThoughtSphere, Rick had leadership roles at SeeBeyond (IPO), Initiate Systems (acquired by IBM), IBM, Allscripts and Novetta where he helped define and execute worldwide marketing, created awareness and demand generation programs, and developed strategies for communicating the business value of complex technologies. At ThoughtSphere, Rick will leverage his strategic vision and executional precision to support the company’s strategy by driving demand and lead generation, product marketing, public and industry analyst relations, and corporate communications.
“ThoughtSphere and its seasoned team of clinical data and technology experts is uniquely positioned to take advantage of this tremendous market opportunity,” said Rick. “I look forward to ensuring our success by growing revenue, customer engagement and market leadership.”
For more information, visit www.thoughtsphere.com
ThoughtSphere is a leading cloud-based clinical data management and analytics company. Our mission is to help life science companies develop and deliver treatments to patients faster and smarter using data science. With our innovative platform, biopharma, medical device sponsors and CROs can reduce clinical development costs and optimize and enhance efficiency and effectiveness in clinical trial processes, and gain near real-time actionable insights. Founded by clinical information and technology industry experts, ThoughtSphere delivers on the promise of big data to drive health innovation.