The current environment is accelerating the current need for pharmaceutical companies to determine their strategies to complement phases of clinical trials with digital approaches.
To help pharma address these approaches, a growing number of companies are offering digital products and services, and solutions, that address one or more phases of clinical trials. These companies are offering solutions to quickly reach the patient personally through a digital, data-driven model.
Medable announced $25 million in funding to accelerate clinical trials with digital technology, enabling new therapies to reach patients faster. The funding round was led by early-stage healthcare and AI investor GSR Ventures, with additional investment from existing investor PPD, Inc. The funding brings Medable’s total capital raised to more than $45 million.
Medable is on a mission to reduce clinical trial timelines by 50 percent. The company has become a leader in the movement to digitize and virtualize clinical trials. Over the past several years, Medable’s team has built a modular digital platform-as-a-service that streamlines clinical trials with direct-to-patient technologies. The platform is now used by leading biopharma sponsors and clinical research organizations and has been used for trials in 30+ countries and 26 languages.
In the current COVID-19 pandemic environment, decentralized trials have become a necessity as many clinical sites are shut down or not seeing non-COVID-19 patients—and patients around the world are sheltering in place.
To address immediate needs for COVID-19 research, Medable’s recent activities include:
- Introduced a global telemedicine capability that in partnership with PPD has already been used to connect patients virtually with site coordinators, investigators and other care professionals anywhere in the world.
- Announced a global partnership with MRN to support remote and in-home care, which are critical for trial continuity in spite of shelter-in-place initiatives.
- Announced a partnership with AliveCor to dramatically scale remote clinical trials by enabling the use of AliveCor’s in-home ECGs as part of Medable’s platform.
- Announced a multi-company research framework to accelerate the development of diagnostics and treatments for COVID-19, providing a mobile application and secure infrastructure to connect health researchers and clinical trial teams with up to millions of home-bound individuals in the United States.
Takeaway: In the current environment traditional trial processes and timelines are insufficient to meet the global need for clinical research