Medable Achieves 400% Growth in First Half 2020, Expands Ecosystem for Decentralized Clinical Trials
August 24, 2020 08:08 AM Eastern Daylight Time
PALO ALTO, Calif.--(BUSINESS WIRE)--Medable Inc., the leading software provider for decentralized clinical trials, today announced strong momentum in the first half of 2020 as pharma and biotech companies quickly shifted clinical trials to digital platforms in response to COVID-19. Specifically, Medable grew its revenues by more than 400 percent year over year, including the addition of nine large pharma customers, an expanded partnership with PPD, and new partnerships including Datavant, AliveCor and MRN. (Click here for a full list of news.)
Medable announced strong revenue growth, customer adoption and partner expansion in first half 2020, as #pharma and #biotech industries shift to decentralized #clinicaltrials
Medable is driving innovation and adoption globally for decentralized trials, providing expanded access with direct-to-patient technologies across therapeutic areas. This includes fully virtual trials and hybrid studies to facilitate remote engagement of patients and sites, and collect and unify data from recruitment to trial close. Medable’s platform has been used for trials across a broad range of therapeutic areas, including oncology, dermatology, neurology, endocrinology and antivirals.
“COVID-19 has accelerated decentralized trial adoption by five years,” said Dr. Michelle Longmire, CEO and co-founder of Medable. “We’re impressed with how quickly pharma and biotech companies are embracing the move, as virtual trials shift from novelty to must have while patients are homebound. We expect the pace to continue as the industry moves beyond early adopters to mainstream deployment, making trials much more accessible for patients while cutting the time it takes to bring innovative therapies to market.”
Medable’s strong growth demonstrates that the company’s patient-centered vision and physician-led strategy resonate with clinical trial leaders, who need a unified technology platform to manage virtual and hybrid trials. Additional achievements for Medable in 2020 include: