Medable Inc., a Palo Alto, Calif.-based provider of a software platform that enables clinical leaders to move to patient-centric research strategies, raised $91m in Series C funding.
The round, which brings total capital raised to more than $136m, was led by Sapphire Ventures, with follow-on investment from existing investors GSR Ventures, PPD, Inc. (Nasdaq:PPD) and Streamlined Ventures.
The company intends to use the funds to accelerate the life sciences industry’s shift to digital and decentralized clinical trials.
Led by Dr. Michelle Longmire, CEO and co-founder, Medable provides a software platform that provides a unified experience for patients and clinicians, enabling recruitment, remote screening, electronic consent, clinical outcomes assessment (eCOA), eSource, telemedicine, and connected devices.
The company’s platform has been used for registrational clinical trials across a variety of therapeutic areas worldwide in more than 60 countries, enabling participation in over 40 languages. In 2020, Medable launched a new TeleVisit mobile application co-developed and deployed with PPD, as well as TeleConsent™ and TeleCOA™ applications, all of which connect patients virtually with sites and sponsors using web and mobile technologies. The new apps enable patients to get clinical advice, capture informed consent and re-consent, and share outcome assessments from the comfort of a patient’s home, anywhere in the world. The company also announced partnerships with Datavant, MRN, and AliveCor and established its Patient Advisory Council, a nationwide network of advocates who advise Medable and biopharma customers on ways to improve patient access, experience, and outcomes in clinical trials, ensuring patient-centric approaches throughout the process.
FinSMEs
19/11/2020