7.5 C
London
Wednesday, September 28, 2022

Clinical Trials Startup HealthMatch Raises $10 Million Series C

Must read

Razorpay Enters Loyalty and Rewards Segment with PoshVine Acquisition

Payment service provider Razorpay has announced the acquisition of PoshVine, a loyalty and rewards management platform.This marks Razorpay's entry into the loyalty and rewards...

Jolie Poirier

Jolie Poirier is a 33-year-old Instagram model, influencer, businesswoman and philanthropist. This versatile woman is better known as the wife of former Interim...

Hurricane Ian heads for Florida as ‘extremely dangerous major hurricane’

Hurricane Ian remained on Florida's Gulf coast on Tuesday as an "extremely dangerous major hurricane" after shutting power to all of Cuba, officials said.The...

Roundtable aims to bring AngelList-style syndicates to Europe • londonbusinessblog.com

Meet Round tablea new startup supported by eFounders that aims to bring community-driven angel investment to European startups. The company has built a...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Access to start clinical trials HealthMatch has raised $10 million in Series C.

The round was led by the company’s original lender, Folkloric Enterprises. Paul Bassat’s Square Peg Capital led an $18 million Series B in the Sydney-based startup in December 2020, and also invested in Series C. Square Peg also led a $6 million Series A at the end of 2019. Malcolm and Lucy Turnbull are among the past investors in HealthMatch, which uses machine learning to automate clinical trials for contract research companies.

The medtech startup has increased its patient base 10x since its previous increase, with more than 1 million patients worldwide now using the platform, which is like a Tinder for medical studies where patients can profile, search, match and be placed in clinical trials. in more than 300 fitness areas.

Founder and CEO Manuri Gunawardena launched HealthMatch in 2017 as a senior medical student at the University of Sydney. Since then, more than 35,000 patients have been admitted to studies by leading research institutions such as Johns Hopkins, Harvard, Stanford and Mayo Clinic in the US and Chris O’Brien Lifehouse, Peter Mac & Monash Alfred Psychiatry Research Center in Australia.

After laying off half of the team in June, Gunawardena said she was excited to secure Series C capital and will use it to once again increase the workforce and expand the platform in the United States.

“Despite our success to date, changing capital markets forced HealthMatch to adapt its approach to scale and make some difficult restructuring decisions earlier this year,” she said.

“Today marks an exciting milestone as we continue to improve access to critical care, and I am grateful to Folklore Ventures, our investors and our dedicated team who share our vision to redefine the future of medicine.”

Gunawardena said the ability to access a clinical trial as a patient could be a life-saving opportunity, especially if there is no standard treatment.

“There is nothing more motivating than hearing the stories of patients who found a clinical trial through HealthMatch, especially those who were unaware of the opportunity to participate before coming across our platform,” she said.

“With more than 1 million patients taking advantage of HealthMatch’s ability to streamline the process of finding and opening clinical trials, we see a real impact on the lives of many patients, not just through the way they access some of the latest and greatest health innovations, but also with the impact we can have on new treatments coming to market.”

Folklore Ventures Managing Partner Alister Coleman said the Sydney VC had now backed all four increases from Seed to Series C.

“In the space of just a few years, HealthMatch has proven the importance of its global mission and showing the world that a patient-centered approach to solving a fundamental problem in R&D in the life sciences can be valuable for patients and clinicians alike,” said he. .

“We are as committed to Manuri’s vision as we were on day one, and we believe HealthMatch will continue to set new frontiers for patient engagement, enhanced clinical trial activities, and ultimately a brighter future for drug development.”

HealthMatch was launched in the US in October 2021 and now averages 100,000 patients per month for new user registrations.

Gunawardena said HealthMatch is increasingly partnering with pharmaceutical companies beyond trial recruiting, leveraging insights from 32 million anonymized and aggregated patient medical questions to help the industry better understand how trials should be designed and chosen. where they implement them to ultimately deliver better treatments for patients, faster.

The startup has collaborated with global pharmaceutical giants including Roche, AbbVie & Boehringer Ingelheim, as well as emerging biotech innovators such as Imugene & Earli.

“We have great healthcare in Australia where access to leading healthcare providers and medicines is publicly available through Medicare. Unfortunately, this is not the case in the US and we have seen a strong interest in access to investigations, especially from underserved and diverse communities who lack adequate resources,” she said.

There is significant industry demand for solutions that address the efficiencies of clinical trials and reduce the process of bringing new drugs to market, with 80% of clinical trials worldwide being delayed or halted due to poor recruitment – ​​an issue that ravages the industry and costs decades of billions a year.”

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Razorpay Enters Loyalty and Rewards Segment with PoshVine Acquisition

Payment service provider Razorpay has announced the acquisition of PoshVine, a loyalty and rewards management platform.This marks Razorpay's entry into the loyalty and rewards...

Jolie Poirier

Jolie Poirier is a 33-year-old Instagram model, influencer, businesswoman and philanthropist. This versatile woman is better known as the wife of former Interim...

Hurricane Ian heads for Florida as ‘extremely dangerous major hurricane’

Hurricane Ian remained on Florida's Gulf coast on Tuesday as an "extremely dangerous major hurricane" after shutting power to all of Cuba, officials said.The...

Roundtable aims to bring AngelList-style syndicates to Europe • londonbusinessblog.com

Meet Round tablea new startup supported by eFounders that aims to bring community-driven angel investment to European startups. The company has built a...

YC-backed fintech Numida raises $12.3 million led by Serena Ventures to provide loans to SMEs outside Uganda • londonbusinessblog.com

Micro, small and medium-sized enterprises (SMEs) across Africa make up the bulk — over 90% — of the continent's businesses, but are still marginalized...