Industry’s first virtual CRO that specializes in decentralized clinical trials achieves key milestones
November 14, 2022
PHILADELPHIA and NEW YORK — Nov. 14, 2022 — Curavit Clinical Research, a virtual contract research organization (VCRO) that specializes in decentralized clinical trials (DCTs), today announced it raised $5 million in Series A funding to accelerate its growing portfolio of research in the global digital therapeutics (DTx) market (projected to grow at a CAGR of 31.4% through 2026). The new funding will be used to expand the company’s DCT capabilities, partnerships, and market adoption of Curavit’s virtual CRO services and platform for prescription and non-prescription digital therapeutics trials.
The funding was led by early-stage technology investor Osage Venture Partners with additional investment from Royal Street Ventures and Narrow Gauge Ventures. It adds to early investments from Curavit founders and individual investors, including industry veterans Clark Golestani, former president of emerging businesses and global CIO of Merck, and former president and co-founder of Veeva Systems, Matt Wallach.
“In order to dramatically lower the cost and increase the speed of clinical trials, the industry must take a new, digital-first approach,” said Wallach who serves on Curavit’s board of advisors. “Curavit was founded by seasoned veterans with deep experience in that sweet spot where technology innovation meets process excellence so I’m proud to play a part in their journey to improve clinical trials.”
“This is an important milestone for Curavit and the industry’s continued momentum in digital therapeutics and decentralized approaches to clinical research,” said Joel Morse, co-founder and CEO of Curavit. “Traditional trial processes and timelines are insufficient – and they limit patient participation. New digital therapeutics are ideally suited for a DCT approach and will help improve access and drive new unique therapies to patients faster.”
The funding brings Curavit’s total capital raised to more than $8 million. Curavit has more than doubled its revenue in 2020 and 2021 and is on the same pace this year. More than half of its customer base are emerging digital therapeutics companies whose clinical research needs align with Curavit’s focus on virtual site services and DCT expertise.
“We are pleased to partner with Curavit on the next phase of their journey,” said Nate Lentz, Managing Partner at Osage Venture Partners. “The COVID-19 pandemic and rapid growth of digital therapeutics has driven a new digital model, where clinical trials are increasingly decentralized and require a new combination of technologies, services, and expertise not available in the marketplace. Curavit’s team and offering are well-positioned to fill this void and become the leading virtual CRO.”
Since its founding in late 2019, Curavit has accomplished key successes on its mission to bring clinical trials of innovative therapies to more patients in the cloud, including:
- Support for important research with digital therapeutics companies, including Swing Therapeutics, Lark Health, Curio, and Sana.
- Strategic partnerships with life sciences digital technology and data providers, including Ripple Science, for its direct-to-patient software platform; ixlayer, to provide easy access to clinical-grade diagnostic lab testing in DCTs; and 1nHealth, for digital patient recruitment and enrollment.
- Hired experienced industry leaders in top positions including Jay Collier as COO, Candice Del Rio as director of clinical operations, and Chris O’Shaughnessy as VP of business development.In other news, Curavit joined the Digital Therapeutics Alliance, whose aim is to broaden the understanding, adoption, and integration of clinically evaluated digital therapeutics with patients, clinicians, payors, policymakers through education, advocacy, and cross-industry collaboration.
About Osage Ventures
Osage Venture Partners (OVP) is a venture capital firm located just outside of Philadelphia, PA. It partners with exceptional entrepreneurs, building the next generation of leading B2B software and tech-enabled services companies. OVP has consistently focused on this strategy since its inception in 2005, making over sixty investments in early-stage B2B companies over that time. For more information, visit OsageVenturePartners.com.
About Curavit
Curavit Clinical Research is a full-service, virtual contract research organization (VCRO), focused on designing and executing digital-first decentralized clinical trials (DCTs). Founded in 2020 by experts with decades of experience in technology and clinical research, Curavit leverages emerging technologies in digital health, cloud computing, and data science to recruit, engage, and monitor diverse patient populations without borders, ultimately bringing trials to patients in the cloud. Curavit’s digital-first DCTs improve timelines, reduce costs, yield real-world data, and increase patient access for therapies more effective across representative populations. Visit www.curavitclinicalresearch.com.
Media Contacts:
Lisa Barbadora, +1 (610) 420-3413, lbarbadora@barbadoraink.com
Jamie Dabao Brown, +1 (626) 488-0732, jamie@barbadoraink.com
BOSTON — Sept. 6, 2022 —Curavit Clinical Research, a virtual contract research organization (VCRO), has entered into a long-term partnership with ixlayer to provide easy access to clinical-grade diagnostic lab testing for decentralized clinical trials (DCTs). ixlayer seamlessly integrates with Curavit’s platform and makes health testing fast and convenient for patients, improving trial enrollment completion rates. Curavit and ixlayer’s first collaboration is for Swing Therapeutics’ trial of an investigational digital therapeutic (DTx) for fibromyalgia.
ixlayer’s patient-centric lab testing program offers multiple testing formats, including flexible digital options, and thousands of testing combinations. The company offers multi-modality sample selection options, such as at-home self-collect, at-home collection assisted (i.e., mobile phlebotomy), and sample collection at a local patient service center. By making health testing easy for patients, Curavit and ixlayer help sponsor organizations improve completion rates and likelihood of patient retention the duration of the trial so organizations get the data they need to facilitate breakthrough discoveries and bring life-changing healthcare innovation to market quickly.
“Curavit is driving innovation in hybrid and decentralized clinical trials, and we are proud to be part of their mission,” said Pouria Sanae, CEO and co-founder of ixlayer. “Lab testing is an integral part of most clinical trials but can burden patients in traditional settings. At ixlayer, we reduce friction for patients and sponsors by digitally simplifying the process and streamlining data collection on the back end.”
Curavit will remotely recruit, screen, consent, and enroll at least 80 participants in Swing’s PROSPER-FM trial and leverage ixlayer’s platform to streamline clinical urine tests to determine participant eligibility. During televisit screening, Curavit’s clinical coordinators seamlessly schedule the patient’s test at one of more than 2,000 conveniently located lab sites in the U.S. through Curavit’s virtual site platform. ixlayer manages all administrative needs, including payment and curating lab results, unburdening patients, resulting in a more positive early-trial experience.
“ixlayer is the leader in flexible lab and home-based testing services,” said Joel Morse, co-founder and CEO of Curavit. “By partnering with ixlayer, we are setting the foundation for a frictionless patient experience in our decentralized clinical trials and greater trial accessibility. As important, together we are improving the efficiency of trials to get important new therapies to more patients faster.”
To learn more about how ixlayer and Curavit are innovating to drive decentralized clinical trials into the mainstream, see us in Boston at DPharm 2022 (Sept. 13-14, 2022) – booth #26.
About Curavit
Curavit Clinical Research is a full-service, virtual contract research organization (VCRO), focused on designing and executing digital-first decentralized clinical trials (DCTs). Founded in 2020 by experts with decades of experience in technology and clinical research, Curavit leverages emerging technologies in digital health, cloud computing, and data science to recruit, engage, and monitor diverse patient populations without borders, ultimately bringing trials to patients in the cloud. Curavit’s digital-first DCTs improve timelines, reduce costs, yield real-world data, and increase patient access for therapies more effective across representative populations. Visit www.curavitclinicalresearch.com.
About ixlayer
ixlayer is redefining next-generation consumer experiences for lab testing and better health outcomes.
Retailers, health plans, employers, government entities, and health systems chose ixlayer because our solutions allows them to run health testing programs under their own brand at scale. The ixlayer solution includes an extensive test menu, over 1000 testing options, and omnichannel marketing to end users. ixlayer’s lab independent platform powers health testing programs for partners including the United States Coast Guard, Stanford Health, Salesforce, three of the eight largest national health plans in the US and one of the top retail pharmacy chains. Visit www.ixlayer.com.
Media Contacts:
Jamie Dabao Brown, +1 (626) 488-0732, jamie@barbadoraink.com
Lisa Barbadora, +1 (610) 420-3413, lbarbadora@barbadoraink.com
Laura Vinci, +1 (212) 529-2236, laura.vinci@finnpartners.com
