Founder: “COVID-19 Has Accelerated Decentralized Trial Adoption by Five Years”
PALO ALTO, Calif.--(BUSINESS WIRE)--#biotech--Medable Inc., the leading software provider for decentralized clinical trials, today announced strong momentum in the first half of 2020 as pharma and biotech companies quickly shifted clinical trials to digital platforms in response to COVID-19. Specifically, Medable grew its revenues by more than 400 percent year over year, including the addition of nine large pharma customers, an expanded partnership with PPD, and new partnerships including Datavant, AliveCor and MRN. (Click here for a full list of news.)
Medable is driving innovation and adoption globally for decentralized trials, providing expanded access with direct-to-patient technologies across therapeutic areas. This includes fully virtual trials and hybrid studies to facilitate remote engagement of patients and sites, and collect and unify data from recruitment to trial close. Medable’s platform has been used for trials across a broad range of therapeutic areas, including oncology, dermatology, neurology, endocrinology and antivirals.
“COVID-19 has accelerated decentralized trial adoption by five years,” said Dr. Michelle Longmire, CEO and co-founder of Medable. “We’re impressed with how quickly pharma and biotech companies are embracing the move, as virtual trials shift from novelty to must have while patients are homebound. We expect the pace to continue as the industry moves beyond early adopters to mainstream deployment, making trials much more accessible for patients while cutting the time it takes to bring innovative therapies to market.”
Medable’s strong growth demonstrates that the company’s patient-centered vision and physician-led strategy resonate with clinical trial leaders, who need a unified technology platform to manage virtual and hybrid trials. Additional achievements for Medable in 2020 include:
- Secured $25 million in venture funding to fuel product development, partnerships and market adoption, led by early-stage healthcare and AI investor GSR Ventures, with additional investment from existing investor PPD, Inc.
- Launched a mobile TeleVisit application, co-developed and deployed with PPD, to enable continued clinical research in light of COVID-19 concerns. TeleVisit connects patients virtually with site coordinators, investigators and other care professionals, enabling at-risk trials to progress while patients are required to shelter in place.
- Announced a global partnership with Datavant to help clinical trial teams easily integrate multiple data sources for decentralized trial design, recruitment and data management.
- Announced a global alliance with MRN, enabling home clinical trial specialists to conduct home and remote visits using Medable’s Trial-Fit Telemedicine solution.
- Announced a partnership with AliveCor to dramatically scale remote clinical trials by enabling the use of AliveCor’s in-home ECGs as part of Medable’s platform.
- Established its Patient Advisory Council, a nationwide network of advocates who advise Medable and biopharma customers on ways to improve patient access, experience, and outcomes in clinical trials, ensuring patient-centric approaches throughout the process.
- Launched a multi-company research framework to accelerate the development of diagnostics and treatments for COVID-19, providing a mobile application and secure infrastructure to connect health researchers and clinical trial teams with up to millions of home-bound individuals in the United States.
- Joined the Global Genes® RARE Corporate Alliance to help expedite therapies for rare disease patients, collaborating with more than 80 rare disease industry stakeholders.
- Earned industry recognition as a champion for decentralized trials (PM360’s Sixth Annual ELITE Awards), an industry “game changer” (PharmaVOICE 100), and one of the world’s most innovative digital health startups (CB Insights Digital Health 150).
Medable is on a mission to get effective therapies to patients faster by transforming clinical drug development with disruptive technologies. The company’s digital platform streamlines design, recruitment, retention and data quality for decentralized trials, replacing siloed systems with integrated digital tools, data and interfaces to accelerate trial execution. Medable connects patients, sites and clinical trial teams to improve patient access, experience, and outcomes. Medable is a privately held, venture-backed company headquartered in Palo Alto, California. For more information, visit www.medable.com and follow @Medableinc on Twitter.
Lisa Barbadora, Big Valley Marketing for Medable, +1 (610) 420-3413, firstname.lastname@example.org