Known for its decentralized clinical trials, Science 37 is a leading healthcare company that is experiencing high growth. To support its rapid growth the Los Angeles-based company has raised $40 million in an oversubscribed funding round.
The funding round was led by existing investors Lux Capital, Redmile Group, and PPD, Inc. Existing investors Novartis, Sanofi Ventures, GV, Glynn Capital, and Amgen also participated in the round. New investors were LifeSci Ventures and Mubadala Ventures.
Science 37 has said that the fresh injection of funding will help it expand its technology platform and accelerate its global expansion. The funding will help sponsor decentralized trials and enable patients to participate in trials from anywhere without the need of travelling.
“The Science 37 mission to democratize clinical research by bringing trials directly to the patients is not only the right thing to do, but it also has had a clear, measurable impact on sponsors’ ability to access a more diverse patient population, accelerate research, and bring new medicines to the market faster,” said David Coman, CEO of Science 37. He further said that the funding and the faith showed by the investors will help extend the company’s leadership in the decentralized clinical trial market.