umotif Raise £5 Million to Power Decentralised Clinical Trials and Get Therapies to Patients Faster
LONDON, 3 SEPTEMBER 2020: London-based umotif – the patient-centric data capture software company has raised £5 million in a Series A investment round led by existing investor AlbionVC.
The funding, which also saw participation from Oslo-based DNV GL and existing angel investors, will accelerate umotif's growth. It will fuel further development of its patient-centric and decentralised approach to clinical studies and enable expansion into new study types and more high-demand territories. Helping get much-needed, and at times life-saving, therapies to patients faster.
Life sciences companies are increasingly embracing decentralised and virtual study designs – where patient consent and data is captured using their own devices from wherever they are located. This is in stark contrast to the centralised, inconvenient and complex studies in which patients have to go to a site, such as a hospital, to submit their data. And this trend has been catalysed by Covid-19. umotif powers innovative decentralised and patient-centric approaches that increase how engaged patients are, thus improving the chances of the study's success, reduce burden on participants, and help reach new patient populations to increase study diversity.
umotif's robust and scalable cloud-based platform is trusted by the world's leading pharmaceutical and biotech companies to capture clinical research data, and its strengths lie in the way it works with and keeps thousands of research participants engaged. With studies taking place in 26 countries from clinical to real-world settings, and across more than 25 therapeutic areas - from dermatology and rare disease to oncology and cardiology, umotif's focus is to foster a highly engaging patient experience to capture larger volumes of higher quality data.
New funding will further enhance umotif's highly configurable software platform to support existing studies and support new study designs. With a customer base spanning Europe and the US, the investment will drive continued commercial growth and enable further geographical expansion.
“We're excited to help our customers implement patient-centred research designs by using the umotif platform to capture high-quality data," says Bruce Hellman, CEO and Co-Founder of umotif. “This new funding will rapidly accelerate our development and will ultimately help our customers to get new therapies to patients faster."
Dr. Andrew Elder, Deputy Managing Partner at AlbionVC says: “Now more than ever, having access to reliable patient data during clinical trials is crucial. umotif's platform is built with patients in mind; designed to help academics, researchers and healthcare professionals to capture the best quality data in a way that suits the participants. It's a win-win for all stakeholders and the platform has the potential and momentum to revolutionise the speed and efficiency with which therapies can reach and help millions of patients."
Kaare Helle, Venture Director at DNV GL says: “Healthcare is dependent on digital transformation if it is to move towards being a more sustainable sector. umotif has developed a digital platform that can support new models of clinical trials while also ensuring that the patient voice is heard. We have been impressed with the platform and the management team at umotif who are responsive to customer and patient needs and passionate about making a difference."
umotif's mission is to put patients at the centre of clinical research. Designed with patients for patients, the umotif patient-centric eClinical platform powers site-based to fully decentralised clinical, real-world, and post-marketing research. By engaging patients and healthcare professionals, umotif is trusted by global pharmaceutical companies, biotechs, CROs, and academic institutions to capture eConsent and large volumes of ePRO, symptom, and wearable device data. www.umotif.com
The Albion technology team invests from seed through to Series B in high growth companies, predominantly in the UK, with a particular focus on B2B software and digital health. Albion has 20+ years' experience investing in technology, has c.£450m of venture funds, with over 40 tech investments within its portfolios. AlbionVC is the technology investment arm of Albion Capital Group LLP, which is authorised and regulated by the Financial Conduct Authority. www.albion.vc
About DNV GL
Driven by its purpose, to safeguard life, property, and the environment, DNV GL helps tackle the challenges and global transformations facing its customers and the world today and is a trusted voice for many of the world's most successful and forward-thinking companies. With 12,500 employees in more than 100 countries, DNV GL has a global presence within Maritime, Oil & Gas, Energy and Healthcare. DNV GL supports thousands of healthcare organizations across the world to apply systems thinking to address their risks and ensure that the care and products they provide are quality focused and person-centered. We do this through healthcare accreditation, product and management system certifications as well as training. We support the digital transformation journey our customers are travelling with focus on promoting the active and responsible management and sharing of health data. www.dnvgl.com
AlbionVC contact: email@example.com / +44 7530 815 018