We are excited to share that TrialSpark has raised a $156M Series C to support our mission to bring new treatments to patients faster and more efficiently.
You can read more about our mission here and here
Despite the sweeping technological advances transforming biotech, it still takes longer than ten years and costs billions of dollars to develop a single drug, contributing to rising drug prices, inflated healthcare costs, and, ultimately, decreased access to treatments for patients.
We believe there is an opportunity to create a new kind of pharma company — powered by technology and driven by a patient-first ethos — that can lower drug prices, expand access to new medicines, and fundamentally change how we deliver new treatments to patients.
Today, the long and expensive clinical trial process is the biggest bottleneck in drug development. In a world where there are more discovered drugs than the industry can develop and no one knows what’s going to work until you run a clinical trial, the ability to run clinical trials cheaper and faster is the most consequential competitive advantage you want as a pharma company. As such, our team of engineers, operational specialists, biopharma experts, clinicians, data scientists, and product designers have built a tech-enabled trial platform that can significantly accelerate trial timelines while democratizing access to research. However, this is only the beginning. We plan to interrogate every aspect of the pharma value chain to find ways to better serve patients.
My co-founder Linhao and I want to thank all of our team members, both current and past, for all their hard work, dedication, and drive to make an impact for patients. We also want to thank our mentors, investors, partners and advisors for their continued support. We feel honored to have the opportunity to work with all of you.
While we are excited about all the progress we have made, we recognize we are still in the earliest stages of our ambitions as a company. We understand that the journey ahead will not be without its challenges, but with relentless focus, rigor, and execution, we are determined to one day make a dent in the universe and fundamentally change how we bring new treatments to patients.