Trial Spark, a New York-based pharmaceutical technology startup, has closed $ 156 million Turn to fund series C to re-imagine clinical trials.
The round was led by Sam Altman and Lachy Groom, new Investors like Sequoia Capital (Series A leader), Thrive Capital (Series B leader), Casdin Capital, Dragoneer, Section 32, John Doerr, Spark Capital and already involved. , Felicis Ventures, Sound Ventures and Arrowmark. Kareem Zaki, a senior partner at Thrive Capital, referred to the turn by saying:
“Trialspark is building a new type of pharmaceutical company that has the potential to dramatically expand patients’ access to new treatments and align them as key players in drug development. We look forward to making these trips with them in this conclusion and ambition.”
Startup was created in 2016 by computational biologist Benjamin Liu and Linhao Zhang accelerated the process to develop an innovative clinical trial engine by integrating the back-end and front-end aspects of clinical trials. The result is an improvement in the quality and speed of the study at a lower cost, as it allows researchers to access the data in real time to improve monitoring. Sam Altman, CEO of OpenAI, mentioned the engines of hereditary clinical trials
“A lot of people are complaining about the disastrous cost of bringing the new drug to market, but TrialSpark is really doing something about it. Clinical trials are unnecessarily complex and expensive, which directly helps the cost of drugs and lets a lot of promising medications into the market. TrialSpark fixes can “.
With the Covid pandemic being one of the latest events to underscore the importance of improving the areas being used clinical trials, pharma tech startups have been able to attract the attention of major investors and organizations. Now, he will focus his efforts on increasing his team to drive the development of his revolutionary technology.