Funding for TriNetX totals $102m as the network expands globally
As the global health research network grows internationally the financing will be used to accelerate its efforts in Europe, South America, and Asia-Pacific.
Gadi Lachman, CEO of TriNetX, told us that the company’s plans to grow are a way in which it is, “exploring a global network to spark a revolution in the way research is being done.”
TriNetX will also use the recent funding to continue the development of its platform to expand into artificial intelligence (AI), machine learning, and digital clinical trials. “We use cloud-based analytics and machine learning to support the different processes of drug development,” Lachman added.
These additions to its platform come as the clinical research landscape continues to evolve.
“I think the clinical research ecosystem is waking up to the existence of the big data that we bring and the real time nature of the data, and that is coming from all over the world,” said Lachman.
The network includes health care organizations across 17 countries, including the US, UK, Germany, Italy, Japan, Singapore, India, and Brazil.
TriNetX’s real-world evidence (RWE) ecosystem uses data, analytics, and research communities in tandem to assist in the creation and design of clinical trials as well as observational studies.
Using global clinical and claims data, the platform represents over 300m patients which users have access to use for site selection and clinical trial design.
The Series D financing was led by Merck Global Health Innovation Fund (GHIF) with additional funding from Mitsui & Co, ITOCHU Technology Ventures, ITOCHU Corporation, and existing investors.
Joe Volpe, vice president and managing director of Merck GHIF, said in a statement, “TriNetX enables a global industry exchange and liberates data with the potential to rapidly provide answers to hard questions. With TriNetX, what previously took days or weeks to determine may often be done in minutes.”
TriNetX’s customer base has expanded since its inception and now includes 29 pharmaceutical industry customers, such as, Novartis, Sanofi, and Pfizer.