Octopus joins Amadeus in £2m TrialReach funding round


test clinic medicalUK-based early-stage investment firm Octopus has led a £2m financing round for online clinical trials connection platform TrialReach.

Amadeus Capital Partners re-upped its investment as part of the round, having previously parted with $1.2m of early-stage funding for the company in November 2011.

The company aims to make new treatments available more quickly by allowing sufferers to search by condition to see what healthcare companies and research organisations are offering.

London-headquartered TrialReach was launched in 2010 and has grown to include details of more than 70,000 clinical trials which are authorised and regulated by health authorities.

Alliott Cole, a Principal on the Ventures team at Octopus, said, “We are really excited to be partnering TrialReach at this stage of its development.

“The team has created a unique platform that has the ability to improve the efficiency of medical research, by making it easier for people to explore, understand and access the latest clinical trials.

“Data shows that finding the required number of patients delays the vast majority of clinical trials.

“TrialReach offers a fantastic solution to a problem that the pharmaceutical industry is only going to find more challenging as it looks to recruit patients for clinical trials to support drug development.”

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