Trialbee Secures €11 million in Funding to Scale Digital Patient Trial Recruitment and Engagement Solutions
Investment led by MTIP enables the company to expand its product development to meet the growing demand for patient-centric technology solutions in clinical trials
MALMÖ, Sweden–(BUSINESS WIRE)–Trialbee, leading global technology provider for patient matching and engagement in clinical trials, today announced the closure of an €11 million investment round to onboard strategic investor MTIP, the European specialist investor in Healthtech scale-up companies. Existing investors Industrifonden and Briban Invest also participated in the round.
The additional capital will be used to further accelerate the company’s topline growth and enhance the Trialbee technology platform, which integrates real world data and real time analytics to recruit and engage patients. This latest round brings the total amount raised by Trialbee to date to €25 million.
“We have experienced remarkable momentum over the last year and our commitment to deliver cutting-edge capabilities to our customers has contributed to this growth,” said Lollo Eriksson, CEO of Trialbee. “With this investment from MTIP, we are able to further invest in product development which will result in more value for our customers looking to accelerate and restart their global clinical trials. This partnership with MTIP speaks to the growing market opportunity and validates that Trialbee’s solutions are well-positioned to meet the demand.”
The most prescient challenges facing pharma research & development (R&D) are slow patient recruitment and large numbers of dropouts from clinical trials, causing significant delays and increasing costs for pharmaceutical products to reach the marketplace. The Trialbee solution is proven to accelarate the patient recruitment process and maintain patient engagement by incorporating data-driven digital solutions in clinical trials and optimizing protocol design and site selection.
“We are delighted to be investing in Trialbee, and look forward to working with the team to further their future growth,” commented MTIP Investment Partner, David Germonpré. “We have looked at a lot of opportunities in this space, and believe Trialbee is truly differentiated in their ability to securely integrate Big Data in clinical trials. Some of the best technology solutions are built to optimize existing processes, and the Trialbee team has harnessed their knowledge from many years in the patient recruitment space to do just that.”
Trialbee is the first and only global patient recruitment and engagement company with integrated patient matching from claims data, electronic health records and digital outreach to the general public. These expanded capabilities enable Trialbee to provide additional services such as the assessment of patient feasibility, principal investigator identification and support for observational research.
The Company is proud to support their clients to optimize their clinical trials on both sides of the Atlantic, with teams in both Malmö, Sweden and Chapel Hill, North Carolina.
Dr. Christoph Kausch, CEO and Founding Partner at MTIP, commented: “Recruiting the right patients into the right clinical trial is essential for successful drug development. Traditionally, this process has been cumbersome, expensive and highly inefficient. We liked that Trialbee is really revolutionizing the patient recruitment process through deploying digital technologies that are used to source, engage and retain patients.” He concluded: “Our second Fund II investment, Trialbee, is a great example of healthcare innovation working to achieve better value for money in healthcare. By reducing the cost of development for their clients, Trialbee are also enabling more affordable and safer pharmaceuticals for the patients they affect.”
ABOUT MTIP
MTIP is a pan-European Healthtech growth investor, based in Basel Switzerland. We invest in digitally-connected, decentralized and patient-centric medical technology leaders, with offerings that provide clear health-related economic benefits. Our entrepreneurial investment team, which has complementary private equity skills and exceptional deal-making capabilities, actively works with our portfolio companies to boost growth. MTIP efficiently deploys capital to unlock value and generate attractive returns for our investors. Find out more at www.mtip.ch or contact us at communications@mtip.ch.
ABOUT Trialbee
Trialbee is a world leading technology provider in patient matching and engagement, empowering patients to participate in clinical trials as a care option. Founded in 2010, Trialbee has continuously innovated patient-centric technology solutions for global clinical trials. Trialbee – Dedicated to patients; driven by science; and powered by data. For more information, visit www.trialbee.com and contact us at solutions@trialbee.com.
Contacts
Kristi Lee-John for Trialbee
Phone: 919-270-8054
E-mail: klee@crossroadsb2b.com
Jessica Di Palo
MTIP, Head of Marketing and Communications
Phone: +41 61 551 12 50
E-mail: communications@mtip.ch
