TriNetX, a data analytics platform provider for pharmaceutical companies, raised $40 million in Series D funding this week. The latest round, led by Merck Global Health Innovation Fund, brings the company's total funding to a grand total of $102 million.
The company’s technology improves the clinical trial process for pharma companies by providing on-demand data access. The longitudinal clinical data helps pharma companies make efficient decisions for the various aspects of clinical trials — think hospital location, patient demographics, etc. The platform is designed to help speed up clinical research, saving time and money.
The landscape for clinical research is changing.”
“The landscape for clinical research is changing and TriNetX is leading the disruption as the industry transitions to leveraging data-driven insights to power clinical research and market surveillance,” said TriNetX CEO Gadi Lachman in a statement.
The company plans to use the latest funding injection to accelerate international growth across Europe, Asia and South America. TriNetX will also continue to invest in the development of its platform, particularly in artificial intelligence, machine learning and digital clinical trials.
Mitsui & Co., ITOCHU Technology Ventures, and ITOCHU Corporation contributed to the round, in addition to existing investors Deerfield Management, MPM Capital, and F2 Ventures.
Their customers include pharma giants like Novartis, Sanofi, and Pfizer.
“Real-world data is important when conducting clinical trials, drug research and discovery today,” said Joe Volpe, vice president and managing director of Merck GHIF. “With TriNetX, what previously took days or weeks to determine may often be done in minutes — that's why we're excited to participate in this financing round to grow and expand TriNetX's offerings.”