Umotif raises $25 million to fund scale up of patient-focused data capture tech
Athyrium Capital Management has invested $25.5 million in clinical trial technology firm Umotif.
The UK trial technology developer shared details of the new investment this week, explaining that it will use the money to further develop and scale-up its patient-centric data capture software platform.
Specifically, Umotif said it will add patent-protected solutions for pain management, clinical outcomes and symptom tracking to the system.
Umotif added that it also plans to expand its North American team – including in sales, marketing and service delivery.
In a press statement CEO Steve Rosenberg said “With this investment from Athyrium I'm excited to grow our global capabilities to better serve our sponsors, partners and – most importantly – the patients we help take part in research."
This was echoed by Athyrium partner Mark Kavulich, who cited Umotif’s patient-focused strategy as the motivation for the investment.
"Over recent years we have seen how the global eClinical market is significantly growing and quickly changing. uMotif's approach to engaging patients in research is truly differentiated, patent-protected and is built on technology ready to scale.”
Umotif claims its data capture technology platform accelerated timelines by a third and achieves capture rates in excess of 90%.
It also claims that the technology has been deployed in 30 countries by companies including by drug companies like AstraZeneca and Abbvie and contract research organisations like Syneos.
Deal making
In September 2020 Umotif raised £5 million in a Series A investment round that involved UK investor AlbionVC, Oslo-based DNV-G and existing angel investors.
The new investment follows less than a year after Umotif teamed with Xperiome in a bid to streamline approaches to patient recruitment.
It also comes just over a year after the firm teamed up with telemedicine technology provider VirTrial to combine their decentralized clinical trial (DCT) technologies into an integrated solution.
Image: Stock Photo Secrets