The funding will help 4G Clinical accelerate its global expansion. Here are the top-line bullets you need to know.
4G Clinical, a clinical trial software company, has raised $230M in a Series D with participation from Goldman Sachs Asset Management.
HOW’S THE COMPANY PERFORMING?
- Massachusetts-based 4G Clinical is a randomization and trial supply management (RTSM) software provider. It enables biotech and pharma companies to prevent stockouts and reduce drug waste.
- The company says it has 100 customers and is running 252 studies.
- The company reportedly grew its revenue by 110% in 2020, with Covid-related research representing 10% of all projects.
- Headquartered in the US, 4G Clinical also has offices in Tokyo, Tel Aviv, Amsterdam, Dublin, Basel, and Cologne.
Source: 4G Clinical
WHY DOES THE MARKET MATTER?
- The global clinical trials market is projected to grow at a CAGR of 5.7% and reach a value of $69.5B by 2028, according to Grand View Research.
- The use of AI in healthcare has shown increasing potential in saving time as it brings drugs to markets faster by identifying accurate patients for clinical trials.
