Patient data capture and clinical trial tech company uMotif announced Wednesday it had secured $25.5 million from a fund managed by Athyrium Capital Management.
The London-based firm raised £5 million in a Series A funding in 2020 and £2.4 million in 2018.
WHAT IT DOEs
uMotif makes software for gathering patient data for clinical trials and research, including decentralized studies. Its offerings include tools for obtaining consent, for electronic clinical outcome assessments (eCOA), for electronic patient-reported outcomes (ePRO) and eDiaries, and for capturing symptom information and wearable data.
WHAT IT’S FOR
The company will use the capital to scale and develop its platform and continue its international expansion. uMotif said it’s currently used in 30 countries, and is particularly focused on growing its team in North America, including in sales, marketing and service delivery.
“We are delighted to welcome Athyrium to support our journey to be the most patient-centric platform for research. I truly believe that clinical research must put patients first, delivering more engaging research studies. With this investment from Athyrium I’m excited to grow our global capabilities to better serve our sponsors, partners and – most importantly – the patients we help take part in research,” CEO Steve Rosenberg said in a statement.
In the wake of the COVID-19 pandemic that pushed many researchers to adapt to decentralized trials, a number of startups are raising funds for clinical trial technology.
In April, Reify Health raised $220 million in Series D funding, boosting its valuation to nearly $5 billion. It offers software for study sites and sponsors to assist in recruiting, pre-screening and enrolling patients in clinical trials. Reify also provides traveling research staff and delivers supplies to set up sites.
Another company that focuses on decentralized trials is Curebase, which recently raised $40 million in Series B funding. The startup’s tools include an app to help patients enroll, sign consent forms and access telehealth and home visits.
DCT company THREAD is also expanding its patient engagement tools. In April, it announced it had acquired CureClick, a platform for recruiting trial participants. Meanwhile, YPrime, a cloud-based clinical trial data management tool, revealed plans to buy Tryl, a platform that provides support to patients so they don’t drop out of trials, in February.