Curebase Secures $40 Million in Series B Funding
Industry Ventures leads investment round in technology-driven clinical trial startup
SAN FRANCISCO, May 5, 2022 /PRNewswire/ -- Curebase, a company committed to democratizing access to clinical studies, has raised $40 million in Series B funding to continue development of its end-to-end clinical trial execution model, virtual and hybrid site capabilities, and full eClinical software platform to run modern, patient-centric clinical trials. Since 2018, Curebase has established itself as a leader in decentralized clinical trials (DCTs) and patient-centric clinical trial software. This funding will deepen Curebase's breadth of capabilities beyond the virtual experience: via more complex site and community healthcare interfaces, a richer range of clinical software and services, and more robust capabilities for interventional drug sponsors and global studies.
Industry Ventures led this funding round, which included new institutional investors Acrew Capital, World Innovation Lab and Positive Sum, and existing investors GGV Capital, who led the Series A, Bold Capital and Xfund. The round also included a strategic investment by global biopharmaceutical company Gilead Sciences to deepen their partnership with Curebase on implementing DCT and hybrid capabilities in interventional trials.
In addition, Gaingels, an investment syndicate that focuses on startups dedicated to building diverse and inclusive teams participated in the round. Since its founding in 2017, Curebase has raised a total of $59 million.
"We look to invest in technology companies that we believe are transforming massive, inefficient industries," said Fanni Fan, vice president at Industry Ventures. "Curebase stood out to us for its full-vertical approach, comprehensive patient-centric software platform, and outstanding response from customers. We believe this investment will allow them to scale their model in a market that is rapidly growing on a global level, and continue expanding into the most complex drug study designs."
Clinical research has traditionally suffered from difficult enrollment, retention, and diversity. Curebase's model enables the inclusion of underrepresented patient populations otherwise excluded from clinical trials and expands access overall to studies to solve this challenge. The company's virtual and hybrid research sites offer patients a unique opportunity to participate in clinical studies, regardless of their location via community provider facilities and home-based care. The Curebase platform empowers sponsors and physicians from practices of all sizes to conduct clinical research more efficiently, including private practices, independent clinics, and large academic research sites. Most importantly Curebase's methods are primarily driven by patient centricity to expand access to clinical trials for any patient, anywhere. This mission motivated Gilead, a top-20 global pharmaceutical company, to join in the funding round.
"It is more urgent than ever for the biopharmaceutical industry to transform the design and execution of our clinical programs so that we radically change the way patients experience clinical trials. We believe that by taking a human-centered design and technology enabled approach – as Curebase does – we can co-design a process that more effectively brings treatment options to people in need," said Matt Bryant, Head of Technology and Innovation at Gilead Sciences. "Curebase's approach will help to improve the quality, speed and patient diversity of clinical trials so that we have a more representative population in our clinical research."
The Curebase model has been proven superior to traditional clinical trial methods. Curebase uses technology and services developed in-house to administer and manage studies across a variety of settings, including at home, in community clinics, and even in large academic centers. This has led to far faster enrollment, greater diversity among participants (32% more diverse populations on average across studies), cost savings, and a high level of patient satisfaction (97% satisfaction in a recent pivotal study receiving FDA clearance). The company has now run over 50 studies to date, with 300-400% growth year over year.
"We are pleased that investors are recognizing that Curebase is more than a software platform," said company founder and CEO Tom Lemberg. "We are an end-to-end clinical trial company with global capabilities and an extensive site network of virtual and hybrid site staff that provides everything needed to successfully execute a better clinical trial."
At Curebase, our mission is to bring quality medical innovations to patients faster and improve human wellbeing through more efficient clinical studies. We are proving that clinical research can be radically accelerated if we empower physicians everywhere to enroll patients in the communities where they live. By applying cutting edge clinical software and remote study management techniques to the problem, we are reinventing clinical trials and research from the ground up. For more information, please visit www.curebase.com.
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