ObvioHealth Inc, a company offering 100% mobile & “site-less” clinical trials, announced today a $3 million series A financing round, led by TKS I, a life science and healthcare focused venture fund.
“We are excited by the investment of TKS I into ObvioHealth; this raise will help us expand the company’s operational team and support our current growth needs” said; Bryan Silverman, CEO of ObvioHealth Inc. “We are pleased by both the response and demand for our mobile clinical trials platform, the ObvioHealth app. From CPG, pharmaceutical, and consumer healthcare companies alike, our technology has now been validated through myriad studies and sponsors are seeing the incredible value of transitioning towards end-to-end digitally enabled clinical trials.”
The ObvioHealth core offering is focused on making clinical trials faster and more cost effective by digitizing the entire process while; complying with FDA Good Clinical Practices. The ObvioHealth app, the company’s proprietary software, supports observational and interventional studies, allowing integration with smart phones, connected devices, and real-time interactions with subjects.
“Our app is becoming a go-to platform for sponsors who recognize the time and cost savings offered by online trials. We are generating significant traction in therapeutic areas where a digital platform facilitates complex and expensive studies within the traditional model,” said Silverman.
Digital means no geographic borders – our app helps recruit subjects faster and in remote regions without; the geographic constraints imposed by traditional “brick & mortar” studies. Study subjects are keen to share real-life information and much more often when using the app which; expands the potential of clinical research, and exponentially increases the number of data points captured. Given its’ IT architecture is both device and application agnostic, our platform allows and enables an enterprise platform suited to the modern BYOD strategy.
The app enables patient adherence programs. Post marketing surveillance studies are challenging due to their long-term nature which usually translates into high dropout rates. The always connected nature of the app fully leverages connected devices and smartphones to engage subjects, improve the patient experience, and facilitate increased compliance.
ObvioHealth is advised by SPRIM, a global innovation firm focused on healthcare, with deep experience as a Clinical Research Organization. “In 17 years of running clinical trials, we have learned the major pain points of this critical process. The timing to leverage technology for the benefit of research could not be better. Sponsors and subjects are eager to engage with the possibilities offered by technological advances” said; Dr. Michael Shleifer, Director of ObvioHealth and co-founder of SPRIM.
TKS I, who led the round, is a healthcare and life-science focused venture fund, formed by Tikehau Investment Management and SPRIM’s VC arm: SPRIM Ventures.
“We are excited to support the growth of ObvioHealth with this series A round” said; Bruno de Pampelonne, Chairman of Tikehau IM. The company is managed by a team of experienced professionals with a precise vision to make it a global leader in the space. Thanks to technology, the clinical trial market is experiencing a disruption that will reduce the time and cost of drug development, for the benefit of patients, healthcare systems, and trial sponsors.”
ObvioHealth is a CRO based in Orlando and Singapore, offering both a hybrid (brick & mortar with digital) and a 100% “siteless” clinical trial using the ObvioHealth app, its proprietary, mobile clinical trial software platform. The market for online trials is growing at a fast pace and will soon represent a significant share of the USD 50 Billion clinical trials market. Further information can be found at www.ObvioHealth.com.
Tikehau Capital is an asset management and investment Group which manages over USD 17 bn of assets, with shareholders’ equity of USD 2.85 bn. The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including; through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs c. 200 staff globally.
Tikehau Capital is listed on Euronext Paris, compartment A (ISIN code: FR0013230612; Ticker: TKO.FP). Further information can be found at www.tikehaucapital.com