What You Should Know:
– Falfurrias Management Partners (Falfurrias), a Charlotte-based private equity firm focused on growth-oriented, middle-market businesses, today announced its investment in Jumo Health, an innovative and award-winning clinical trial solutions company driving better outcomes for clinical trials globally.
– Jumo Health develops creative, patient-centric educational solutions that improve health literacy to accelerate clinical trial enrollment and increase participant retention.
Falfurrias Capital Partners Invests in Jumo Health to Enhance Clinical Trial Engagement and Diversity
Falfurrias Capital Partners has announced an investment in Jumo Health, aiming to address critical challenges in clinical trials, such as low enrollment, high dropout rates, and the lack of diverse representation. This strategic investment will bring new resources and expertise to Jumo Health, enhancing its core capabilities, enabling data-driven solutions, and broadening patient engagement.
Key aspects of the partnership include:
– Focus on Diversity and Inclusion: Jumo Health is dedicated to improving access to clinical trials for underrepresented communities. Acknowledging the deep-seated mistrust these groups may have toward the healthcare system due to historical inequities, Jumo Health has taken concrete steps to rebuild trust by:
– Creating culturally sensitive educational materials tailored to participants’ age, gender, race, language, and socioeconomic status.
– Establishing a strong network of over 2,000 religious, social, government, and community-based organizations, as well as patient advocacy groups.
– Impact on Clinical Trials: Jumo Health’s curriculum-based educational solutions ensure that prospective clinical trial participants receive relevant information at every stage of their journey, from pre-consent trial awareness to ongoing engagement. The result is:
– Faster recruitment
– Longer retention
– Increased patient compliance
– Greater overall trial success for sponsors
– Leadership and Governance: The investment includes significant leadership appointments to Jumo Health’s board of directors:
-Adam Cossman, with 25 years of pharmaceutical commercialization experience, will serve as Chairman.
– Alexander Jutkowitz, a global content marketing and communications expert, and Jackie Kent, a pharmaceutical executive with nearly 30 years of clinical trial innovation experience, will also join the board.
This investment, sourced from Falfurrias Capital Partners V, a lower middle market buyout fund with an operational focus, builds on Falfurrias’ extensive experience in marketing and communications. Houlihan Lokey represented Falfurrias in the transaction, with legal advisory services provided by Holland & Knight. Jumo Health was represented by Canaccord Genuity LLC throughout the process.
“Treatment advancements for increasingly targeted patient populations depend on more diverse and innovative clinical trial solutions,” said Adam Cossman. “As treatments become more personalized and trial complexity increases, the need for effective patient communications is more critical than ever. Jumo Health’s patient-centric approach gets to the heart of these issues, and we look forward to helping them work towards their mission.”
