Medable Declares $91 Mn in New Funding to Accelerate Industry Shift
Category : #Headlines  By- Puja More  Date: 2020-11-23
  • share
  • Twitter
  • Facebook
  • LinkedIn
Medable Declares $91 Mn in New Funding to Accelerate Industry Shift

Medable Inc., a decentralized trial platform that provides a seamless experience, connecting sites, patients, and clinical trial teams, announced $91 million in new funding to speed-up the shift of the life sciences industry to decentralized and digital clinical trials. Sapphire Ventures followed the series C funding round, which was accompanied by an investment from existing investors GSR Ventures, Streamlined Ventures, and PPD, Inc. The aggregate capital raised reaches over$136 million for Medable.

Medable's modular software and flexible platform allow clinical leaders to shift to patient-centric from clinic-centric research strategies. The platform offers a combined experience for clinicians and patients that helps in remote screening, recruitment, clinical outcomes assessment (eCOA), electronic consent, telemedicine, eSource, and connected devices.

While Medable played a key role in enabling clinical tests during the COVID-19 pandemic, the funding comes at a crucial time, simplifying the continuance of prevailing research through remote care and accelerating the development of therapeutics and vacancies for COVID-19.

Medable has witnessed a fast eCOA adoption, propelling the field forward with improvements including telemedicine and connected devices. The pandemic has fueled the demand for remote clinical trial technologies, and the company is allowing complex research protocols that are to be performed remotely through its platform. By reducing the need for in-person site visits, the customers of Medable have achieved extraordinary results that include over 90 percent retention rates and 3X faster enrollment.

Medable’s robust expansion shows that its physician-scientist and patient-centered vision led strategy to resonate with clinical trial leaders, who require an amalgamated technology platform to digitize complex clinical trials. The platform by Medable is used for registrational clinical trials throughout various therapeutic areas across the world in over 60 countries allowing participation in more than 40 languages.

Medable ‘s CEO and co-founder, Michelle Longmire expressed how the pandemic has made the world aware of the necessity of clinical drug development. He stated that the company requires transformative technologies that break down critical barriers to expand patient access, outcomes, and experience. This funding will help the company to continue its pursuit of new technologies that enhance clinical trials.

Source: https://www.businesswire.com/news/home/20201119005713/en/Medable-Secures-91-Million-Funding-to-Accelerate-Industry-Shift-to-Digital-and-Decentralized-Clinical-Trials

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Puja More    

Puja More

Puja More holds a graduate degree in Computer Science from the University of Pune. Nurturing her passion of playing with words however, Puja undertook content writing as a career path and boasts of rich experience in content production, copywriting, and digital market...

Read More

Most Read

Biohaven, Sosei Heptares ink deal on small-molecule CGRP antagonists
Biohaven, Sosei Heptares ink deal on small-molecule CGRP antagonists
By- Puja More  Date: 2020-12-03

Biohaven Pharmaceutical Holding Company and Sosei Group Corporation have signed a collaboration and licensing agreement under which the form...

Cerus receives FDA nod for INTERCEPT Blood System for Cryoprecipitation
Cerus receives FDA nod for INTERCEPT Blood System for Cryoprecipitation
By- Madhura Dethe  Date: 2020-12-02

Adding to yet other initiatives and accomplishments in the medical fraternity, a California-based pathogen-protected blood component develop...

Nigeria set to commence installation of 5Mn solar home power systems
Nigeria set to commence installation of 5Mn solar home power systems
By- Puja More  Date: 2020-12-01

The first phase of installation is expected to be commenced in December 2020 nationwide. The Federal Government of Nigeria has recently sta...

Ascentage partners with U-M to attain license for a MDM2 degrader
Ascentage partners with U-M to attain license for a MDM2 degrader
By- Puja More  Date: 2020-11-30

Acquisitions, collaborations, and mergers have become a common practice in the medical and biotechnology sector in recent years. Speaking of...

Our Conrtributor

Apple launches ‘AirPods Max’, its first over-ear headphones at $550

Apple launches ‘AirPods Max’, its first over-ear headphones at $550

By- Puja More

Technology giant- Apple Inc. has recently unveiled the ‘AirPods Max’, active noise-cance...

Zydus receives DGCI approval for Phase-1 clinical trial of ZYIL1

Zydus receives DGCI approval for Phase-1 clinical trial of ZYIL1

By- Puja More

ZYIL1 stands out to be a novel oral small molecule NLRP3 inhibitor candidate which is expected to be...

Gupshup to better business communications, launches GIP for the same

Gupshup to better business communications, launches GIP for the same

By- Puja More

Messaging services company, Gupshup has reportedly launched an all-new IP-based messaging channel wi...