Curebase unlocks drug development with remote clinical trials; Raises $15 million led by GGV Capital
SAN FRANCISCO, May 25, 2021 /PRNewswire/ — Curebase announced today $15 million in Series A funding to continue to develop its decentralized clinical trial software platform and virtual research site capabilities, fueling research where any patient, anywhere can participate in clinical trials at home and with his own doctor.
The funding was led by GGV Capital with participation from Xfund, Bold Capital and several other institutional funds, and brings the total raised to $19M. Jeff Richardmanaging partner, GGV Capital will join the board of directors.
Today’s decentralized clinical trial companies have focused on narrow parts of the problem, such as the incorporation of wearable devices, Curebase has designed a new approach to the entire clinical trial process, enabling complex studies that can be made entirely around the lifestyle of the patient. The platform enables one-of-a-kind study designs in which patients participate both at home and in real-world settings, with best-in-class software experiences for patients, their physicians, and for telemedicine providers and mobile health care.
After the COVID-19 pandemic hit in early 2020, a large proportion of clinical trials had to be halted, costing some of the largest pharmaceutical companies hundreds of millions in operational and business losses due to the inability to market drugs as planned. All the while, Curebase was enrolling thousands of patients in their new study designs who were unaffected by the impact of the pandemic. The FDA had issued guidelines in March 2020 which laid the groundwork for wider adoption of more patient-centric studies, such as those Curebase was conducting, to ensure trial continuity. Companies that have been grounded by the pandemic and emboldened by the green light from the FDA, have taken the Curebase initiative to make trials not only more patient-centric, but also faster and more cost-effective.
Curebase has grown significantly over the past year. In 2020 alone, the company saw its revenue triple and quadruple the number of clinical trials underway. The company has leveraged its platform to implement unique models of conducting clinical trials that proved critical to research continuity during the height of the COVID-19 pandemic.
“At GGV, we seek companies that are redefining massive categories by creating ambitious and innovative software platforms. $50 billion The clinical trial industry is clearly on the verge of transformation, and Curebase has a clear vision to reinvent the entire ecosystem to reach any patient, anywhere. With little capital, the team has already built a comprehensive software platform that is better than anything multi-billion dollar incumbents have managed to create, and recruited some of the world’s largest pharma and CRO companies in as customers. With this important $15 million funding, I think they will scale incredibly quickly and change the industry,” Jeff Richardmanaging partner of GGV Capital and new member of the board of directors.
Decentralized clinical research solutions reach more patients
Curebase is currently conducting more than a dozen clinical studies that are each at the forefront of decentralized research methodologies. These methodologies reach patients wherever they live and are powered by easy-to-use software applications for patients, physicians and sponsors. During the pandemic, Curebase conducted six different COVID-19 studies using community drive-thru testing sites across the country, turning them into large-scale clinical data collection machines with incredible patient diversity. The company’s other cutting-edge study designs rely on real-world physicians to provide ultrasounds, colonoscopy recordings and other categories of data that have never been done before in clinical trials. . Curebase has also been instrumental in innovating drug study designs, including a study in which its platform virtualized all types of visits for mobile phlebotomists to collect ECG, vital signs and blood sampling, while the patient’s clinician was able to use the platform to perform telemedicine. visits and view patient data remotely.
“We are currently conducting clinical trial designs that most researchers believe will not be possible for another 5 years. This is research in which any patient can enroll at home and collect data every time he visits his own doctor. We do this in women’s health, cancer diagnostics, GI and many other areas. Our software and new virtual site framework already combine elements of home search, search in telemedicine, real-world data and clinical research as a care option in a way that will surprise many clinical operations managers in the industry,” Tom Lemberg, founder and CEO of Curebase.
With this latest funding round, Curebase is focusing on developing the platform and expanding its market presence. The investment will strengthen the company’s technology as a market leader in the use of real-world medical data in clinical research, home care, telemedicine and clinical research as alternative methods of care that uses physicians, labs, pharmacies, and other real-world healthcare touchpoints. Investment in commercial efforts will extend this technology to more therapeutic areas and new geographies, particularly the European clinical trial market.
Curebase is the leading provider of decentralized clinical research software and services, with the goal of powering research where any patient, anywhere can participate in clinical trials at home and with their own physician. The Curebase platform enables any patient and healthcare professional to participate in a clinical study, accelerating recruitment and enabling new study designs with diverse populations. Curebase works as a complete eClinical software platform and virtual research site with features like Digital Recruitment, ePRO, eCOA, Telemedicine, eConsent, eSource, etc.
Media Contact: Grace VintonAccount Manager, [email protected]