SignalPath raises $18m ahead of trial management platform expansion

24-Oct-2019 - Last updated on 24-Oct-2019 at 15:05 GMT

(Image: Getty/ipopba)

SignalPath announced the closing of its Series B funding round to support the expansion of its software platform, which facilitates clinical trials management.

SignalPath, a North Carolina, US-based software developer, has raised $18m (€16.18m) from existing investors, bringing its total capital to $35m (€31.46m), in order to support the expansion of its suite of tools available for clinical trial sites.

The company holds a software platform with tools allowing clinical data storage and management, with an aim to “reduce complexity, drive efficiency, improve quality, and increase transparency across the research ecosystem,” according to Brad Hirsch, the company’s CEO.

To date, approximately 250 clinical sites have access to the platform, with the volume of the network ultimately allowing the company to move on to developing insights about clinical research, a project which was previously ‘impossible to conduct’, Hirsch stated.

The funding is expected to support the development of software tools providing these insights, as well as to enable the growth of the company’s research teams.

In 2018, the company announced the launch of a research consortium, with the aim of bringing together technology companies, sponsors and researchers.

The company’s CEO told us then that the company aims to have integrated the use of real world data in clinical study design and management by 2020.