• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • COVID-19
  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • Artificial Intelligence
    • Blockchain
    • Mobile Health
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage
  • Life Sciences
  • Research

Faro Health Secures $20M to Streamline Smart Clinical Trials

by Fred Pennic 02/08/2023 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

What You Should Know:

– Faro Health, a cloud-computing company that is developing digital infrastructure for smart clinical trials raises $20M in Series A funding led by General Catalyst to help scale the digital transformation of clinical trials––essentially making it easier and quicker for drug developers to greatly reduce the cost and time of trials.

– The round also included participation from previous investors Section 32, Polaris Partners, Zetta Ventures, and Northpond Ventures. General Catalyst Partner Elena Viboch will join Faro’s Board of Directors.

Clinical Development for the Digital Age

Designing and executing clinical trials has become increasingly complex, with the number of endpoints measured in a study growing by 27% over the past decade and patients undergoing 44% more assessments. As we face rapid innovation in today’s life sciences, it’s crucial that there are tools out there to support the growing complexity of study data required to enable market access. Faro helps simplify the complexity of modern clinical protocol development and execution.

Its software platform, powered by multifaceted data, provides teams that design and author clinical studies with real-time intuitive insights into the protocol design. This helps teams in a handful of ways:

– Collaboratively designing and authoring studies that answer key scientific questions in the least burdensome way for patients, sites, payers, and regulators

– Automating the elimination of inconsistencies and errors through standardization and transformation of protocol content

“The technology used to design clinical trial protocols has not adapted to support the complexity of protocol design required by the current innovations in life sciences,” said Scott Chetham Ph.D., co-founder and CEO of Faro. “The Faro platform helps teams understand and mitigate the risks involved in modern protocols with enormous savings in direct costs and time. Our platform can also help amplify and accelerate biopharma’s existing investments in Transcelerate’s Common Protocol Template, Digital Data Flow, Content Reuse and other initiatives.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: Clinical Trial, Clinical Trials, cloud, digital transformation, Life Sciences, Partners, Payers, Polaris Partners

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Knowledge Hub

10 Critical KPIs Every Successful Healthcare Organization is Implementing10 Critical KPIs Every Successful Healthcare Organization is Implementing

How to Build Hybrid Care Models Around Remote Patient Monitoring

How to Build Hybrid Care Models Around Remote Patient Monitoring

Most Popular

M&A: Florence Acquires Virtual Care Solution Zipnosis

M&A: Florence Acquires Virtual Care Solution Zipnosis

Adopting Value-Based Care Models for Autism Care Is Imperative

Why Adopting Value-Based Care Models for Autism Care Is Imperative

UNC Health to Pilot Epic, Microsoft’s Generative AI Tool

UNC Health to Pilot Epic, Microsoft’s Generative AI Tool

Vanderbilt University Medical Center Taps Philips Reduce Carbon Footprint

Vanderbilt University Medical Center Taps Philips to Reduce Carbon Footprint

Denials Management Named Most Time-Consuming Task in RCM

Denials Management Named Most Time-Consuming Task in RCM

How AI Can Eliminate Surprise Bills, Improve Payment Integrity

AI Can Eliminate Surprise Bills, Improve Payment Integrity

Q/A: IQVIA’s Global Lead Talks Unlocking AI for Drug Repurposing

M&A: Kaiser Acquires Geisinger, Forms Risant Health

5 Executives Weigh in on VBC Impact on Kaiser/Geisinger Deal

Digital Health Executive Hires & Departures

Digital Health Executive Hires & Departures: Ed Marx Departure, Particle Health CEO, Rhapsody CFO, Others

Catalyst by Wellstar Launches $100M Digital Health Venture Fund

Catalyst by Wellstar Launches $100M Digital Health Venture Fund

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • 2023 Editorial Calendar
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2023. HIT Consultant Media. All Rights Reserved. Privacy Policy |