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
Sweden – 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 accelerate 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 its 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 by 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 is also enabling more affordable and safer pharmaceuticals for the patients they affect.”