Tech startup Paradigm has raised a massive $203 million in its latest funding round, with the aim to get more patients into clinical research and accelerate drug trials.
The San Francisco-based company, which was founded in 2018, has developed a platform to connect pharmaceutical companies with patients for clinical trials. The platform helps to streamline the process of recruiting and managing eligible participants for clinical studies, making it easier for drug companies to find, track and manage enrolled patients.
The funding round was led by venture capital firm Andreessen Horowitz and will be used to further develop Paradigm’s technology and expand its patient network.
Paradigm’s CEO, Narges Bani Asadi, said the funding will enable the company to create more opportunities for patients to get involved in clinical research. She said the company is aiming to make clinical trials more accessible, efficient and cost-effective.
“By creating a better clinical trial experience for patients, we can help accelerate the development of treatments and cures for a wide range of diseases,” Asadi said.
The company’s platform is helping to revolutionize the clinical trial process. It is designed to provide a simple and secure way for drug companies can match participants with the right clinical studies and make it easier for them to enroll and manage their participation.
Paradigm is also working to make clinical trials more efficient by using artificial intelligence and machine learning to screen potential participants and make sure the right people are matched with the right studies.
The company has already started partnering with pharmaceutical companies and research organizations to help them recruit and manage participants. With the new funding, Paradigm will be able to expand its technology and reach more potential patients. This could help to accelerate the development of new treatments and cures, as well as improve the clinical trial process for both patients and pharmaceutical companies.
Overall, this is an exciting development for the tech startup, and it will be interesting to see how Paradigm’s technology and platform are able to help improve the clinical trial process and accelerate drug trials.