MedaSystems closes Seed Funding
We’ve come a long way since we raised our first round of funding last March. In the interim we’ve added customers, processed many new requests from physicians and their staff, and released a plethora of new features. The team is singularly dedicated to our mission of helping pharmaceutical companies and biotechs collaborate with physicians to provide very ill patients with access to investigational medicines. Today we’re very pleased to share with you that we’ve closed a seed funding round, in order to continue to grow our market and further build out the platform.
This second round of funding comes from a mix of strategic angel and health tech venture investors, with prior track records of founding and funding successful SaaS health companies, including Young Sohn, a founder of Veeva Systems, Vlocity, and Nomadic Systems; nina.capital, a specialist healthtech venture capital fund based in Barcelona; and members of the management team. In addition to investment support, they provide significant expertise in areas related to pre-approval access, building and deploying secure SaaS platforms, real-world data, and bridging the gap between clinical and commercial.
Now that it’s been in use for several years, we can start to quantify the benefits of the platform in streamlining collaboration between medical affairs, clinical operations, regulatory and shipping teams internally, and physicians and their staff, externally, enabling the rapid processing of treatment inquiries and capture of real-world data.
We’ve seen that the platform provides significant benefits to various stakeholders:
Sponsors gain significant efficiency in the processing of requests and can capture data to help speed drug discovery and regulatory submission. The platform allows self-service creation of forms to capture de-identified, real-world data about patients who are not eligible for clinical trials and suffer from significant unmet medical need. The flexible data architecture and workflow means that sponsors can run a variety of programs on the platform, from Expanded or Managed Access to Post-Trial Access programs and Investigator Initiated Study requests, supporting many aspects of patient treatment outside of Clinical Trials. Pharmaceutical companies are able to respond to requests faster, design more effective clinical trials, enhance pre-approval regulatory submissions, and capture real-world data.
Physicians are able to rapidly submit applications on behalf of patients who have no other treatment options and cannot participate in clinical trials. The platform allows them to work with their staff and pharmacists, providing visibility into where inquiries stand, the ability to request treatment and provide treatment updates.
CROs partner with MedaSystems to leverage our tailored end-to-end platform for the setup of diverse Expanded Access programs and ensuring seamless stakeholder communication. With the integration of shipping and safety applications, the platform offers a unified experience and enables them to provide high-quality and differentiated services.
And, most importantly, patients suffering from life-threatening illnesses, benefit from a faster processing and review process for their requests for treatment.
This funding undergirds our goal of making life saving treatments more easily available to patients and physicians and supporting research and development of new therapies. We plan to deploy them to develop vital real-world data capture, automation, and machine learning capabilities. We’re excited and humbled by this opportunity to help patients, doctors and industry and look forward to an exciting few years to come.