TrialSpark, a NYC-based next generation pharma company, raised $156MM in Series C funding.
The round was led by Sam Altman and Lachy Groom, with participation from new and existing investors, including Sequoia Capital (Series A lead), Thrive Capital (Series B lead), Casdin Capital, Dragoneer, Section 32, John Doerr, Spark Capital, Felicis Ventures, Sound Ventures, Arrowmark, and previous investors.
The company intends to use the funds to continue to acquire and/or partner on clinical stage pharmaceutical assets to develop through their in-house clinical trial platform, to invest in biotech companies with promising drug candidates ready for development, to scale the team, which is growing rapidly across all departments in New York City and remotely
Launched in 2016 by CEO Benjamine Liu, a Yale and Oxford-trained computational biologist and CTO Linhao Zhang, a veteran of Salesforce and Oscar Health, TrialSpark is a technology-driven pharma company that runs end-to-end clinical trials, focused on bringing new treatments to patients via a technology platform that optimizes all aspects of a clinical trial, enabling more efficient trial design, faster trial completion, and higher trial data quality. TrialSpark in-licenses and co-develops drug programs through in-house development, joint ventures, and NewCos.
The tech platform integrates the front-end of trials (recruitment, eConsent, eSource) with the back-end (data management, monitoring, and biostats) to eliminate siloed study data.