A week shy of six months after closing a $31 million Series B, Science 37 is back in the news with another big round to report. Today, the Playa Vista-based startup announced it had closed a $29 million Series C, and this time around, they're focused on recruiting the best and brightest LA tech has to offer.
“We’ve seen great success thus far in the model we developed. It has not only increased the number of people able to participate in clinical trials, but also reduced the time it takes to recruit by nearly 50 percent in some cases,” said co-founder and CEO Noah Craft, MD, PhD, in a statement. “The new funding will help us drive continued expansion and recruit top talent from both the technology and from the clinical trial industries. The round will also allow us to expand into new therapeutic areas and to introduce these trials to a much broader set of demographics, including those with limited access to major medical facilities where these trials are typically offered.”
Founded in 2014, the company helps make clinical trials better for patients. The company's telemedicine-based "metasite" allows more patients to take part in clinical studies regardless of their physical location. Additionally, the startup helps make clinical studies more diverse. Currently, minorities participating in clinical trials only represent five percent of the overall study. In cancer trials, those numbers are even lower, with minorities only composing two percent of the studies' participants.
The round of funding was led by Glynn Capital Management, with additional participation from GV. The round also included new strategic investments from Amgen Ventures, as well as participation from existing investors Lux Capital, Redmile Group, dRx Capital and Sanofi Ventures.
Images via social media.
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