In an announcement today by Octopus, it disclosed that it headed the growth finances round of TrialReach by GBP2 million. Existing financier Amadeus Capital Partners also participated in the recent round. Amadeus Capital Partners earlier invested with TrialReach in 2011.
Established in 2010, TrialReach succeeded in developing its first of its kind platform that had already facilitated a numerous number of patients get hold of recent treatments globally.
Octopus' Principal on the Ventures Team, Alliott Cole, 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. We look forward to working with the team as they develop the business to address what is a global market opportunity."
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