– ObjectiveGI, the Nashville-based clinically integrated ancillary care platform has raised $6.6M in Series A funding.
– Taking on the rising NonAlcoholic SteatoHepatitis (NASH) epidemic, ObjectiveGI establishes premier clinical trial centers within local gastroenterology (GI) practices across the country to develop new therapies and improve patient outcomes.
– The company opened its 10th Center of Research Excellence in September 2019 and, with this funding, ObjectiveGI aims to double the number of clinically integrated research sites by the end of 2020
ObjectiveGI, a Nashville, TN-based integrated research and technology services platform company, announced it has raised $6.6M in Series A funding, according to a filing with the U.S. Securities and Exchange Commission led by Frist Cressey Ventures with participation from other new and existing investors. With the investment, Frist Cressey Ventures partners Chris Booker and Navid Farzad will join the ObjectiveGI Board of Directors.
Rise of The NonAlcoholic SteatoHepatitis (NASH) Epidemic
A silent chronic disease, NASH is an ever-growing health concern in our country today. Primarily stemming from obesity, it causes liver inflammation and scarring that can lead to cirrhosis, heart and kidney problems, liver cancer, and ultimately death. Between 80 and 100 million Americans have nonalcoholic fatty liver disease (NAFLD). Tens of millions of people of all ages and from all walks of life suffer from NASH. This is defined when the fat deposits in the liver cause inflammation. In a large percentage of those affected, scarring can develop in the liver, and this is known as fibrosis. Many will develop an advanced form of NASH, which eventually leads to cirrhosis and other complications.
By 2021, NASH will be the number one indication for liver transplantation. In addition to liver failure, NASH patients also face a dramatically increased risk for liver cancer. The NASH epidemic is already causing a huge economic strain, and it’s only getting worse. Today, the U.S. is spending $5 billion annually in healthcare costs related to the disease. By 2030, this could rise to $30B.
What’s worse is that few patients are aware they have the condition. While GI research is being conducted worldwide to treat NASH, it’s all in the infancy stages. Currently, no therapeutic treatment options exist for the condition, and the cost burden on the global economy is only rising – into the billions annually.
Seamless Integration to Address the NASH Epidemic
Founded in 2018by a gastroenterologist and research professional, ObjectiveGI is a physician partnership model that seamlessly integrates gastroenterology (GI) research services into local community-based GI practices in support of patient care and practice enhancement, offering research infrastructure, optimal trial selection, study implementation, and key research personnel management.
A diagnosis of NASH can be challenging for patients. Lifestyle changes are needed immediately. Weight loss through diet modification and exercise is the only currently available therapeutic option. ObjectiveGI’s research program offers a supportive and encouraging environment to guide patients toward personal health improvement through our frequent research visits and our focus on metabolic improvement.
To date, the company has opened 10 Centers of Research Excellence and plans to utilize the funding to help double the number of clinically integrated research sites by the end of 2020, expanding its transformative presence while driving meaningful partnerships and improving patient outcomes for those affected by NASH.
Since launching the first Center of Research Excellence in 2018, ObjectiveGI and its partners have supported value-based care initiatives for more than 3,000 patients. Today, these centers can be found on-site at GI practices located in Alabama, Arkansas, Florida, Maryland, Michigan, North Carolina, South Carolina and Tennessee.
“ObjectiveGI offers a different approach to research aimed at improving patient outcomes through our partnerships with leading GI physicians,” said Colleen Hoke, president and CEO, ObjectiveGI. “It’s an exciting time to be in healthcare and support science at the point of care, and we look forward to scaling and growing our business to expand our impact for patients across the country.”