Summary
Science 37 is an American clinical research company that specializes in decentralized clinical trials. In March 2024, the company was acquired by eMed, LLC.[1][2]
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| Company type | Private |
|---|---|
| Nasdaq: SNCE | |
| Industry | Clinical research |
| Founded | 2014 |
| Founders |
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| Owner |
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| Website | www |
History edit
Science 37 was founded in 2014[3] by Noah Craft and Belinda Tan, working out of LA BioMed at Harbor-UCLA Medical Center.[4]
Their team developed the Network Oriented Research Assistant platform, also known as the NORA platform, which includes video chat, digital self-photography, data collection, and electronic consent. Together, these features were used to conduct “site-less” trials.[5]
The platform also aided researchers in finding and contacting potential participants, and scheduling trial participants for in-home activities like questionnaires, mobile nurse visits,[6] and door-step study medicine delivery.[7]
Science 37 received its initial round of funding in 2015, with a $6.5 million investment, co-led by Lux Capital and dRx Capital.[8] In 2016 the company's second round of financing resulted in $31 million in funding, and a 2017 round of financing resulted in $29 million.[9][10] In March 2019, Science 37 secured $35 million in Series D funding; and announced a leadership transition with David Coman coming in as CEO in November 2019.
In August 2020 Science 37 closed an oversubscribed Series D $40 million funding round led by Lux Capital, Redmile Group and PPD, Inc. (other investors: Novartis, Amgen, Sanofi Ventures, GV, Glynn Capital, LifeSci Ventures and Mubadala Ventures). In May 2021, Science 37 announced that they are to become publicly listed via merger with LifeSci Acquisition II Corp.[citation needed]
Partnerships edit
In 2015 Science 37 began working with Genentech in the recruitment of trial participants.[11] In 2017 Science 37 then completed a site-less trial for AOBiome Therapeutics. This was the first “interventional, randomized, placebo-controlled trial” to be completed virtually.[5] That year Science 37 also began planning site-less trials for Sanofi[12] and Otsuka Pharmaceutical.[13]
In 2018 the company partnered with Novartis to plan several site-less clinical trials. Novartis also owns 10% of Science 37 from an early-stage investment in the company.[14] Science 37 was already in the process of conducting trials with Novartis in acne, cluster headaches, and fatty liver disease.[4]
References edit
- ^ "eMed completes tender offer for all outstanding shares of Science 37" (Press release). PR Newswire. March 12, 2024.
- ^ "eMed Completes Successful Acquisition of Science 37: A New Era in Telehealth and Diagnostics". Bit Perfect Solutions. Retrieved 2024-03-14.
- ^ "GV joins $29 million investment into Science 37 to bring clinical trials to the home". Venture Beat. 25 April 2017.
- ^ a b "Science 37, Novartis to Conduct Virtual Clinical Trials". labusinessjournal.com. Los Angeles Business Journal.
- ^ a b "Science 37 concludes its first fully virtual clinical trial". Mobile Health News. 24 October 2017.
- ^ Landhuis, Esther (1 April 2018). "Outsourcing is in". Nature. 556 (7700): 263–265. Bibcode:2018Natur.556..263L. doi:10.1038/d41586-018-04163-8. PMID 29643487.
- ^ Herper, Matthew. "AI. Telemedicine. Quantum. New Novartis Boss Says Tech Will Finally Change The Drug Biz". Forbes.
- ^ "Novartis joint venture helps virtual trial CRO to $6.5m fundraising round". Outsourcing Pharmaceuticals.
- ^ "Science37 aims to democratize clinical research with a fresh $29 million in growth funding". techcrunch.com. TechCrunch.
- ^ "Novartis scaling 'site-less' trials through expanded Science 37 alliance".
- ^ "Here's what clinical trial utopia may look like". medcitynews.com. MedCity News.
- ^ "Sanofi launches new virtual trials offering with Science 37". www.fiercebiotech.com. FierceBiotech.
- ^ "Otsuka works with Science 37 and more digital health deals". Mobile Health News. 8 December 2017.
- ^ "Novartis joins forces with LA tech company Science 37 to launch virtual clinical trials". endpts.com.
External links edit
- Official website