Yesterday morning ClinOne, a digital platform that helps researchers manage clinical trials, landed $3.6 million in Series A funding. The infusion of cash was led by CU Healthcare Innovation Fund.
WHAT THEY DO
The platform works with pharma companies, research groups, and clinical trial sites in order to recruit appropriate patients for their trial.
Researchers can use the platform to manage clinical trial workflows, including collecting and managing data, as well as organizing paperwork. The platform is also able to collect data from remote-monitoring sensors.
The Denver-based startup boasts of being used in 54 countries and is available in 31 languages.
WHAT IT'S FOR
The new funds are expected to help the company expand its product line and grow the business.
“Through these uncertain times, it is comforting to know that technology exists to allow individuals to participate in clinical trials with minimal physical contact with the research site itself. This funding will allow us to expand our product suite and sales efforts to meet the high demand we are seeing,” Rob Bohacs, cofounder and CEO of ClinOne, said in a statement.
Over the last few years researchers have turned to digital to help with clinical trials. We've also seen funds pouring into this space. A month ago Inato, a Parisian startup revamping clinical trial enrollment, scored $14 million in Series A funding.
ON THE RECORD
“Our fund invested in ClinOne as it is clear to us that clinical trial management needs to be both digitized – with new workflow tools that better manage and retain patients, and virtualized – by allowing patients to be managed at home and avoid trips to the hospital/research site whenever possible,” Steven Lindseth, general partner at the CU Healthcare Innovation Fund, said in a statement. “This need is especially acute now during the current pandemic, as the FDA’s recent guidelines stipulate. ClinOne’s recent partnership with our portfolio company BioIntelliSense, as an example, will enable remote patient monitoring to come to clinical trial management in more robust ways.”