Science 37 Explained

Science 37
Industry:Clinical research
Type:Private
Traded As:NASDAQ:

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]

History

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.

The platform also aided researchers in finding and contacting potential participants, and scheduling trial participants for in-home activities like questionnaires, mobile nurse visits,[5] and door-step study medicine delivery.[6]

Science 37 received its initial round of funding in 2015, with a $6.5 million investment, co-led by Lux Capital and dRx Capital.[7] 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.[8] [9] 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.

Partnerships

In 2015 Science 37 began working with Genentech in the recruitment of trial participants.[10] 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.[11] 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.

External links

Notes and References

  1. eMed completes tender offer for all outstanding shares of Science 37 . . March 12, 2024.
  2. Web site: eMed Completes Successful Acquisition of Science 37: A New Era in Telehealth and Diagnostics. Bit Perfect Solutions. 2024-03-14. en.
  3. Web site: GV joins $29 million investment into Science 37 to bring clinical trials to the home. 25 April 2017. Venture Beat.
  4. Web site: Science 37, Novartis to Conduct Virtual Clinical Trials . Los Angeles Business Journal. labusinessjournal.com.
  5. Landhuis. Esther. 1 April 2018. Outsourcing is in. Nature. 556. 7700. 263–265. 2018Natur.556..263L. 10.1038/d41586-018-04163-8. 29643487.
  6. Web site: Herper. Matthew. AI. Telemedicine. Quantum. New Novartis Boss Says Tech Will Finally Change The Drug Biz. Forbes.
  7. Web site: Novartis joint venture helps virtual trial CRO to $6.5m fundraising round. Outsourcing Pharmaceuticals.
  8. Web site: Science37 aims to democratize clinical research with a fresh $29 million in growth funding . TechCrunch. techcrunch.com.
  9. Web site: Novartis scaling 'site-less' trials through expanded Science 37 alliance.
  10. Web site: Here's what clinical trial utopia may look like . MedCity News. medcitynews.com.
  11. Web site: Science 37 concludes its first fully virtual clinical trial. 24 October 2017. Mobile Health News.
  12. Web site: Sanofi launches new virtual trials offering with Science 37 . FierceBiotech. www.fiercebiotech.com.
  13. Web site: Otsuka works with Science 37 and more digital health deals. 8 December 2017. Mobile Health News.
  14. Web site: Novartis joins forces with LA tech company Science 37 to launch virtual clinical trials. endpts.com.