Medable raises $91 million for its clinical trial management software – TechCrunch
The clinical trial management software developer Medable has raised $91 million in a new round of financing as life sciences companies struggle with how to conduct the necessary validation studies of new drugs and devices in a pandemically challenged environment. Digital and decentralized clinical trials are becoming a necessity, given the health and safety guidelines that have been adopted to respond to the COVID-19 pandemic, the company said. The company’s new $91 million financing was led by Sapphire Ventures, with follow-on investment from existing investors GSR Ventures, PPD, Inc. and Streamlined Ventures. Medable’s software manages recruitment, remote screening, electronic consent, clinical outcomes assessment (eCOA), eSource, telemedicine and connected devices, the company said. “The pandemic has made the world aware of the importance of clinical drug development,” said Dr. Michelle Longmire, CEO and co-founder of Medable, in a statement.