On Thursday, Playa Vista-based Science 37 announced that it raised a $40 million oversubscribed funding round led by Lux Capital, Redmile Group and PPD.
Science 37 has created a tech platform to digitize clinical research and clinical trials for the scientific and medical community. Clinical research is a very important part of drug and vaccine development. To ensure the safety of potential treatments, therapeutics companies have to do a lot of research with real patients and then test treatments before they go to market. It is an important process that must follow precise procedures.
That being said, clinical trials can be a bottleneck for therapeutics development because of their meticulous nature, and companies often only have access to a limited number of trial participants. Science 37 aims to improve the overall process by making clinical trials virtual. That means researchers can check in on participants more frequently, collect more data and have access to a broader pool of participants.
This is an exciting prospect for many biotech and therapeutics companies, and as a result several well-known players have invested in or partnered with Science 37, including Genentech, Sanofi, Novartis, Amgen and more.
Science 37 plans to use this new investment to build upon its technology to expand its platform. It also looks to accelerate its global expansion plans. Right now the company is hiring for dozens of roles based in LA or remote.
“The Science 37 mission to democratize clinical research by bringing trials directly to the patients is not only the right thing to do, but it also has had a clear, measurable impact on sponsors’ ability to access a more diverse patient population, accelerate research and bring new medicines to the market faster,” CEO David Coman said in a statement. “We are thrilled to have an incredibly strong, committed network of investors and plan to continue extending our leadership in the decentralized clinical trial market.”
