TrialReach, a startup focused on making clinical trials more accessible for members of the public who may want to take part in them, has today announced a £2 million ( $3.1 million) funding round in order to further develop its product.
TrialReach is designed to help medical research firms recruit participants for trials. Unlike other medical trial directories that tend to rely on potential candidates going out and looking for them, the startup uses proprietary algorithms, a network of distribution partners, and tracking tools to seek out the most relevant audience for any particular trial. For example, a trial may be promoted via search engines, forums or online patient communities.
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Information about each trial is presented in plain language on a standardized Web page. The startup mainly covers the US and Europe in English, Spanish, French, German, and Italian languages although it also operates in Eastern Europe, the Pacific Rim and South America.
The funding round has been led by Octopus Investments, with participation from existing investor Amadeus Capital Partners. London, UK-based TrialReach was founded in 2010 and took on its first external investment round the following year. The new money will be used in part to launch new products in the field of clinical trial recruitment.
Here’s how TrialReach presents itself to the pharmaceutical industry:
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