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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