Lindus Health, a company that conducts end-to-end clinical trials for the life sciences sector, announced it raised $55 million in Series B Funding.
The round was led by Balderton Capital with participation from Visionaries Club and existing investors Creandum, Firstminute and Seedcamp.
WHAT IT DOES
Lindus Health offers fully integrated CRO (contract research organization) services and in-house clinical-trial-management technology.
In a statement, the company describes itself as an anti-CRO that offers clinical trials that are “three times faster than traditional players.”
The company focuses on bringing treatments to patients more quickly via a commercial model that aligns incentives (fixed-priced quotes per study, with milestone-based payments), a software platform and access to more than 40 million EHRs.
Lindus Health will use the funds to develop its AI technology and eClinical platform, Citrus, to optimize study design, automate central monitoring of study data and enable instant biostatistics.
“The antiquated CRO model is failing the industry and failing patients, with inefficiencies and misaligned incentives propelling costs and causing researchers to stumble before their breakthroughs can reach patients,” Meri Beckwith, cofounder of Lindus Health, said in a statement.
“Lindus breaks the cycle by completely reinventing the way clinical trials operate, allowing life science companies to iterate faster.””
MARKET SNAPSHOT
Competitors in the clinical trial space include Biorce, which develops artificial intelligence solutions for drug development. The company offers a clinical AI assistant Jarvis that provides access to clinical data to aid medical research and patient care.
Castor develops technologies to support decentralized clinical trials. The company provides a clinical trial platform designed for the design, deployment, patient engagement, data collection and analysis of clinical trials.
The company touts the platform as being adaptable and as able to meet the requirements of different stakeholders in the clinical research process. In 2024, Castor partnered with HealthVerity to streamline the synchronization of clinical trial and real-world data throughout the clinical-research stages.
Parexel is a clinical-research organization that specializes in biopharmaceutical development and clinical trial management across various phases. The company offers services pertaining to regulatory strategy, portfolio optimization and Phase I-IV clinical trials to support the development and market access of new treatments.
Curebase provides software tools designed for clinical trial recruitment, consent and data collection processes. The company primarily serves the clinical research industry, including CROs, research sites and study participants.
In 2022, Curebase scored $40 million in a Series B round. The company also provides a site-facing platform assisting with participant recruitment and prescreening.