Investors pour $91M into growing clinical-trial software firm
Summary
“There was a big shift in the industry that really opened the door for our technology to play a critical role in how clinical trials are conducted,” Dr. Michelle Longmire, Medable’s co-founder and CEO, said in a phone interview. “We are working with Medable to deliver disruptive solutions, such as a new and innovative approach that addresses inefficiencies in electronic clinical outcome assessments, or eCOA, and bring a fundamentally different solution to meet the evolving requirements of each customer’s research program.” The investment will fuel improvements in several areas for Medable, which employs about 180 people, Longmire said. “Our goal is to make clinical trials a consumer experience that fits seamlessly into people’s lives,” said Longmire, a dermatologist and rare-disease researcher who founded Medable in 2015. As it beefs up its platform, Medable has forged partnerships with companies specializing in data collection, telemedicine and remote patient monitoring. PPD and Medable, meanwhile, worked together this year to launch an app called TeleVisit, which connects patients virtually with site coordinators, investigators and other care professionals.