View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 7, 2021updated 12 Jul 2022 11:18am

Florence raises funds to advance clinical trial connectivity 

Led by Insight Partners, the financing round was joined by existing investors Fulcrum Equity Partners, Bee Partners, and Flashpoint.

Led by Insight Partners, the financing round was joined by existing investors Fulcrum Equity Partners, Bee Partners, and Flashpoint.

Free Case Study
img

Direct-to-Patient Trials: How IRT Plays an Important Role in Bellerophon's Direct-to-Patient Trials

As the industry strengthens its focus on patient centricity, Direct-to-Patient clinical trials have emerged as a popular trial design that have the potential to increase patient recruitment and retention. IRT plays a crucial role in the success of a Direct-to-Patient trial. Because drug supplies are being managed and shipped from distribution facilities directly to patients’ homes, a sponsor must have a high-quality system in place to accurately track the chain of custody, ensure patient-blinding and handle other logistical challenges. What You Will Learn Benefits and challenges associated with the Direct-to-Patient model Bellerophon's top considerations when implementing this trial design How IRT can equip study teams to successfully track chain of custody, ensure patient blinding, and handle logistical challenges
by Suvoda
Enter your details here to receive your free Case Study.

The proceeds from the funding will aid Florence to better connect pharmaceutical firms and study sites, facilitating decentralised trials and structured drug development lifecycles.

Insight Partners Principal Jon Rosenbaum, and its managing director and Medidata former chairman Peter Sobiloff will now be part of Florence’s board of directors.

Florence co-founder and CEO Ryan Jones said: “Remote connectivity and virtual collaboration became a requirement after Covid-19. With one in three study sites around the world using our software, we were able to help.

“Not only do pharmaceutical companies, clinical research organisations, and sites use Florence to manage their Covid studies, they also leveraged our software to ensure that hundreds of other clinical trials across every disease area were able to progress as the industry pivoted to remote work.”

By bolstering regulatory compliance, enhancing user adoption and offering remote connectivity, Florence simplifies operations for more than 8,500 study sites in 34 countries.

Florence noted that its solutions offer 25% quicker clinical trial startup time, lower document cycle times by 40% and support over three million remote monitoring activities monthly.

Rosenbaum said: “There are many market factors elevating the role of clinical trial sites in driving successful outcomes.  This includes growth in adaptive trials and general trial volumes, virtualisation of trials, increasing complexity, and the rise in use of precision medicine.

“Florence’s focus on sites’ adoption of software, with the entirety of the pharma value chain in mind, gives them a unique opportunity to drive value in clinical trials.”

In 2019, Florence raised $7.1m in a Series B funding round.

Related Companies

Free Case Study
img

Direct-to-Patient Trials: How IRT Plays an Important Role in Bellerophon's Direct-to-Patient Trials

As the industry strengthens its focus on patient centricity, Direct-to-Patient clinical trials have emerged as a popular trial design that have the potential to increase patient recruitment and retention. IRT plays a crucial role in the success of a Direct-to-Patient trial. Because drug supplies are being managed and shipped from distribution facilities directly to patients’ homes, a sponsor must have a high-quality system in place to accurately track the chain of custody, ensure patient-blinding and handle other logistical challenges. What You Will Learn Benefits and challenges associated with the Direct-to-Patient model Bellerophon's top considerations when implementing this trial design How IRT can equip study teams to successfully track chain of custody, ensure patient blinding, and handle logistical challenges
by Suvoda
Enter your details here to receive your free Case Study.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Key drug pipeline and competitive landscape changes based on the latest clinical activity, sent every Tuesday. Curated analysis and data-driven insights on clinical trials strategy and operations, sent every Thursday. The pharmaceutical industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Clinical Trials Arena