Clinical trial software company Florence Healthcare announced on Wednesday that it had scored $ 27 million in a series C-1 round led by Insight Partners.
The startup said the investment brought its total growth to 114.1 million. Florence is an announcement মে 80 million Series C in May 2021 and $ 7.1 million Series B in 2019.
What does this mean?
Florence provides tools for conducting clinical trials, including setting up and monitoring trial sites remotely, conducting operations and administrative tasks, collecting digital documents, and obtaining informed consent from study participants.
The investment will lead to the recruitment of new team members, improve its product offers and increase connectivity to clinical trial sites and network of sponsors.
Katherine Gregor, Florence’s chief clinical trial officer, said in a statement: “We are seeing new types of research sites come online because of the expertise technology of our network, community clinics and primary care providers from pharmacies and labs.”
“These new patient access points will allow faster enrollment and increase diversity among trial participants, and will mean a safety profile of drugs and devices that include the patients they will be treating. The regulator is developing guidelines for approval. “
Snapshots of the market
There are a growing number of players in the clinical trial technology and software space. Last week, the pharmacy retail giant Walgreens Has announced the launch of its own clinical trial business, which it says focuses on improving diversity and improving patient retention.
Patient data capture and clinical trials uMotif recently The company has raised 25.5 million to continue its international expansion. Meanwhile, Refai Health announced a $ 220 million Series D round in April, valued at $ 4.8 billion. Decentralized clinical trial company Curebase recently announced a $ 40 million Series B round.
In February, the Clinical Trial Data Collection and Management Agency Acquired YPrime Tryl, which focuses on reducing clinical trial dropout rates.