Recently, Investigators and Study Teams have been receiving direct reach outs from sponsors requesting U-M site budget and financial information before selecting the University as a site. The Clinical Trials Support Office would like to remind everyone to not provide budget or financial information to sponsors directly and to instead let this communication occur between CTSU Finance and sponsors as early as possible. This will allow the CTSU to properly negotiate the study budget and provide sponsors with the most accurate information – saving time in the long run and potentially decreasing a study’s time to activation by preventing multiple stops for re-negotiation.
The CTSU has created tools and maintains historical data to help Study Teams navigate through this process. Because the CTSU has knowledge of previously approved fees from sponsors, this information can be utilized for effective negotiation and to ensure study budgets will cover costs. The CTSO's goal is to minimize any financial risk to the PI, Department, and the University.
If a sponsor reaches out to you requesting this information, please send this on to your CTSU Portfolio Manager by completing an intake form.