Patient data capture and clinical trial technology company uMotif announced Wednesday that it has secured 25.5 million from a fund managed by Athyrium Capital Management.
Raised London based company 2020 5 million in a Series A in 2020 and £ 2.4 million in 2018.
What does this mean?
uMotif develops software for collecting patient data for clinical trials and research, including decentralized studies. Its offers include compliance tools, electronic clinical outcome assessment (eCOA), electronic patient reporting results (ePRO) and eDiaries, and for capturing symptom information and wearable data.
What is it for?
The company will use the capital to scale and develop its platform and continue its international expansion. uMotif says it is currently used in 30 countries, and focuses on expanding its team, particularly in North America, to include sales, marketing and service delivery.
“We are delighted to welcome Atherium to support our journey to become the most patient-centered platform for research. I truly believe that clinical research must put patients first and provide more compelling research studies. We are interested in helping our sponsors, partners and – most importantly – patients to participate in the research, “CEO Steve Rosenberg said in a statement.
Snapshots of the market
In the wake of the COVID-19 epidemic that has pushed many researchers Adapting to decentralized trials, several startups are raising funds for clinical trial technology.
In April, Refai Health The Series D raised $ 220 million in funding, raising its valuation to about $ 5 billion. It offers software for study sites and sponsors to help recruit, pre-screen and enroll patients in clinical trials. Reify also provides traveling research staff and provides site setup.
Another company that focuses on decentralized trials is Curebase, which The Series B recently raised 40 million in funding. Startup tools include an app that helps patients register, sign consent forms, and access telehealth and home visits.
DCT Company Thread is also expanding its patient engagement tools. It announced in April Acquired CureClick, a platform for recruiting trial participants. Meanwhile, YPrime, a cloud-based clinical trial data management tool, unveiled plans to purchase the trial, a platform that provides support to patients so they do not drop out of the trial, in February.