Hawthorne Secures $20M in Series A Funding to Enhance Cloud-Based Siteless Clinical Trials
The Hawthorne Effect, a decentralized clinical trial platform that leverages its Hawthorne CloudSM system, has recently completed a $20m Series A funding round. The funding was provided by Northpond Ventures, SignalFire, and P5 Health Ventures, and brings the company’s total funding to $24m. This investment will be utilized to boost growth and scale operations in order to meet the surging demand for hybrid trial systems that allow for assessments to be completed “wherever, whenever, and however” the trial and patient requirements.
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The pandemic has created an urgent need for remote and hybrid clinical trials that can tap into home use. Hawthorne Effect’s innovative platform offers a solution that not only addresses pandemic-related challenges but also addresses key risk factors beyond the pandemic, such as patient churn, missed assessments, as well as the lack of diversity when it comes to patient pools. Hawthorne Effect’s technology-enabled distributed professionals model ensures that patients are well-supported throughout the trial process, even if they are participating remotely. This is particularly important as historically underrepresented patient groups can be more hesitant to participate in clinical trials, and Hawthorne Effect’s distributed professionals model offers a solution that can help to address this issue.
Hawthorne Effect’s platform enables remote trial participation, utilizing a decentralized clinical trial design that utilizes its Hawthorne CloudSM system. This system offers flexibility and ease of use, allowing patients to complete assessments on their own schedule and in their preferred location. This is especially important for those with limited mobility or for those living in rural or remote areas. The decentralized clinical trial design also minimizes the burden on clinical trial sites, reducing the need for patients to travel to a specific location for assessments.
The Hawthorne Effect platform has the ability to address key challenges related to patient engagement and retention. By leveraging a distributed professionals model, the platform offers a more personalized approach to patient care. This model utilizes a network of clinical research professionals, who can provide support to patients throughout the trial process, ensuring that patients are engaged and motivated to complete the necessary assessments. Additionally, this approach helps to mitigate patient churn, a common challenge in clinical trials. So hawthorne effect 20m series 24madamsfiercebiotech means Hawthorne finishes off $20M series A to boost cloud based siteless trials work .
