Industry Ventures leads investment round in tech-driven clinical trial start-up
SAN FRANCISCO, May 5, 2022 /PRNewswire/ — Curebase, a company committed to democratizing access to clinical studies, raised $40 million in Series B funding to further develop its end-to-end clinical trial execution model, virtual site capabilities and hybrid and its comprehensive eClinical software platform to run modern, patient-centered clinical trials. Since 2018, Curebase has established itself as a leader in decentralized clinical trials (DCT) and patient-centric clinical trial software. This funding will deepen the breadth of Curebase’s capabilities beyond the virtual experience: through more complex site and community healthcare interfaces, a richer suite of clinical software and services, and more robust capabilities for interventional drug sponsors and global studies.
Industry Ventures led this funding round, which included new institutional investors Acrew Capital, World Innovation Lab and Positive Sum, and existing investors GGV Capital, which led Series A, Bold Capital and Xfund. The round also included a strategic investment from global biopharmaceutical company Gilead Sciences to deepen its partnership with Curebase on implementing DCT and hybrid capabilities in interventional trials.
Besides, Gaingels, an investment syndicate that focuses on startups dedicated to building diverse and inclusive teams, participated in the round. Since its inception in 2017, Curebase has raised a total of $59 million.
“We seek to invest in technology companies that we believe are transforming massive and inefficient industries,” said Fanni Fan, vice president of Industry Ventures. “Curebase has stood out for us with its fully vertical approach, comprehensive patient-centric software platform and exceptional customer response. We believe this investment will allow them to scale their model in a rapidly growing market in the global level, and continue to expand into the most complex drug study designs.”
Clinical research has traditionally suffered from difficult recruitment, retention and diversity. The Curebase model enables the inclusion of underrepresented patient populations otherwise excluded from clinical trials and expands global access to studies to address this challenge. The Company’s virtual and hybrid research sites provide a unique opportunity for patients to participate in clinical studies regardless of location through community provider facilities and home care. The Curebase platform enables sponsors and physicians in practices of all sizes to conduct clinical research more efficiently, including private practices, independent clinics, and large academic research sites. Most importantly, Curebase’s methods are primarily patient-focused to expand access to clinical trials for any patient, anywhere. This mission motivated Gilead, one of the world’s top 20 pharmaceutical companies, to join the funding round.
“It is more urgent than ever for the biopharmaceutical industry to transform the design and execution of our clinical programs in order to radically change the way patients experience clinical trials. We believe that by adopting a patient-centric design human and a technology approach – like Curebase does – we can co-design a process that more efficiently delivers treatment options to those in need,” said Matt Bryant, chief technology and innovation officer at Gilead Sciences. “Curebase’s approach will help improve the quality, speed and patient diversity of clinical trials so that we have a more representative population in our clinical research.”
The Curebase model has proven superior to traditional clinical trial methods. Curebase uses in-house developed technology and services to administer and manage studies in a variety of settings, including home, community clinics, and even large academic centers. This led to much faster recruitment, greater diversity among participants (32% more diverse populations on average across studies), cost savings, and a high level of patient satisfaction (97% satisfaction in a recent pivotal study cleared by the FDA). The company has conducted over 50 studies to date, growing 300-400% year over year.
“We are delighted that investors recognize that Curebase is more than a software platform,” said company founder and CEO Tom Lemberg. “We are an end-to-end clinical trials company with global capabilities and an extensive network of virtual and hybrid site staffing sites that provides everything needed to successfully run a better clinical trial.”
At Curebase, our mission is to bring quality medical innovations to patients faster and improve human well-being through more effective clinical studies. We are proving that clinical research can be radically accelerated if we empower physicians around the world to recruit patients from the communities where they live. By applying state-of-the-art clinical software and remote study management techniques to the problem, we are reinventing clinical trials and research from the ground up. For more information, please visit www.curebase.com.
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