Med­able gets $91M for vir­tu­al clin­i­cal tri­als, bring­ing to­tal raise to $136M

As biotechs look to get clin­i­cal stud­ies back on track amid the pan­dem­ic, Med­able re­turned to the ven­ture well for the sec­ond time this year, bag­ging a $91 mil­lion Se­ries C to build out its vir­tu­al tri­al plat­form.

The soft­ware provider re­cent­ly launched three new apps for de­cen­tral­iz­ing clin­i­cal tri­als, and saw a 500% rev­enue spike this year. And it isn’t alone. Back in Au­gust, Sci­ence 37 se­cured a $40 mil­lion round for its vir­tu­al tri­al tech, with sup­port from No­var­tis, Sanofi Ven­tures and Am­gen. Pa­tients and re­searchers are tak­ing a lik­ing to the on­line ap­proach, sug­gest­ing reg­u­la­tors could al­low it to be­come a new nor­mal even af­ter the pan­dem­ic is over.

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