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June 2, 2021

HumanFirst secures funding to support clinical trials at home

HumanFirst is expanding offerings with the new funding, as decentralised clinical trials have grown in the past year.

HumanFirst, which was previously known as Elektra Labs, has secured $12m in new financing from venture capitalists to help pharmaceutical companies and hospitals find the right sensors to conduct remote clinical trials.

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The decentralised clinical trial startup also announced the name change to reflect its focus on enabling healthcare operations at home.

The Series A funding round was led by Maverick Ventures along with Lux Capital, Arkitekt Ventures, Boost VC, SV Angel, and Village Global.

Threshold Ventures and more than 30 angel investors also joined the group for the fundraise.

HumanFirst helps drugmakers and hospitals use sensor technologies to move clinical trials and medical care into patients’ homes.

With the help of the funding, the newly renamed company is expanding offerings, as decentralised clinical trials and virtual care have grown in the past year.

The latest investment brings HumanFirst’s total funding to $15m since its inception. The company will also expand to enable an API-led operational infrastructure with regard to decentralised trials as well as distributed care.

HumanFirst CEO Andy Coravos said: “Healthcare is coming home, giving individuals more agency over their health and wellness. We’ve changed our name to reflect this important shift.

“We need to ensure that home-based operations are as reliable and trustworthy as those within the hospital or the research site. HumanFirst is building the control centre to make this happen.”

The additional funding will go toward increasing HumanFirst’s footprint as the infrastructure layer to support clinical operations that are home focused and range from sensors to in-home visits, testing, and more.

Maverick Ventures managing director Ambar Bhattacharyya said: “HumanFirst is a necessary company in ensuring we’re on path for the future of healthcare at home, which is why we are thrilled to double down on our investment and lead the Series A round.”

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