VitalTrax, a Philadelphia-based startup focused on patient engagement in clinical trials, has received a $150,000 seed investment. It is the first investment from a new $6 million digital health fund, launched this past December, led by Ben Franklin Technology Partners, Safeguard Scientifics, and Independence Health Group.
"With its strong leadership and dedication to consumerizing the healthcare industry, VitalTrax is poised to be a major player in the region's digital health space and beyond," Ben Franklin President and CEO RoseAnn B. Rosenthal said in a statement. "This is the first of many exciting deals to come through our funding initiative with Safeguard and IHG."
Many startups are addressing the problem of connecting patients with appropriate clinical trials for their condition. VitalTrax's approach to the issue is to focus on patient engagement and give patients an easy to use app to present their clinical trial options. The company describes the user experience as more like a social media platform than it is like traditional clinical trial documents. The app, called Wing (not related to the connected Spirometer of the same name), is due out soon for iOS and Android devices.
In addition to a patient-facing app for finding clinical trials, VitalTrax provides an enterprise offering called Wing Enterprise, and the two apps interact with each other. Wing Enterprise provides for many aspects of clinical trial design and administration, including electronic reporting, near-realtime analytics, and custom design and branding.
"We are thrilled to receive this financing from premier financial sponsors and healthcare organizations such as Ben Franklin, Independence Health Group and Safeguard," Zikria Syed, founder and CEO of VitalTrax, said in a statement. "With this financing, we are not only gaining their financial support but also access to their expertise in building and growing technology companies and their vast network of relationships in the healthcare industry."