After years of running trials for other drugmakers, TrialSpark is building its own pipeline
TrialSpark, one of several companies launched specifically to address the “mournful” cost of clinical development, now has $156 million more to work with — and with it, CEO Benjamine Liu has big plans to move into drug development.
The biotech unicorn — valued at more than $1 billion — unveiled a hefty Series C round on Thursday, led by tech investors Sam Altman and Lachy Groom. Liu says he’ll use those funds to build a pipeline, either by acquiring or partnering on assets. The rest will go toward expanding the New York-based team, and investing in other companies with promising candidates.
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