What You Should Know:
– Power, a patient-friendly platform designed to improve access to clinical trial studies emerges from stealth with $7M in seed funding.
– The round was led by Footwork and CRV, with additional investments from ARTIS Ventures, South Park Commons, and AirAngels to help Power bring the process of discovering and accessing clinical trials into the future.
Modernising and Simplifying Accessibility to Clinical Trials
Eighty-six percent of U.S. clinical trials are delayed because of lack of enrollment, creating a massive bottleneck in disease research and drug development — and costing the life science system billions of dollars. Even more distressing: Less than 5 percent of U.S. patients ever take part in a potentially life-changing clinical trial due to opaque practices and antiquated systems.
Power was built with a mission to modernize clinical trial access. The company believes groundbreaking therapeutic options should be available to all patients, regardless of geographical location, ethnicity, or socioeconomic background. Power’s user-friendly platform makes it easy for anyone to access and navigate clinical trials. At the same time, Power solves an acute pain point for researchers and pharmaceutical organizations as it relates to clinical trial diversity and recruitment.
Power’s open-access platform allows patients to directly connect with research teams. In doing so, the company is working to close the gap on the patient recruitment problem and accelerate innovative medical research.
Power offers a comprehensive resource for patients and their providers to search every trial currently available in the United States. Power includes over 30,000 clinical trials and 100,000 researchers spanning 10,000 medical conditions, and the company is on track to have more than 500,000 patients use the platform this year.