TriNetX closes $40 million Series D for global expansion and product development
TriNetX, a clinical research network, has closed its Series D investment round of $40 million led by Merck GHIF. The funding will be used for international expansion and product development.
TriNetX, a clinical research network, has closed its Series D investment round of $40 million. The round was led by Merck Global Health Innovation Fund (Merck GHIF) along with new investors Mitsui & Co., Ltd., ITOCHU Technology Ventures, ITOCHU Corporation, and existing investors MPM Capital, F2 Ventures, and Deerfield Management.
The funding will be used to expand the company’s reach in Europe, Asia and South America; and to develop its capabilities in the areas of artificial intelligence, machine learning and digital clinical trials.
TriNetX enables researchers to apply a data-driven approach to clinical trial design, site selection and the generation of real-world evidence by providing web-based, on-demand access to harmonised clinical and claims data and analytics. The network enables access to the data of more than 300 million patients from hundreds of healthcare organisations across all therapeutic areas.
“Real-world data is important when conducting clinical trials, drug research and discovery today,” said Joe Volpe, VP/Managing Director of lead investor Merck GHIF. “TriNetX enables a global industry exchange and liberates data with the potential to rapidly provide answers to hard questions. With TriNetX, what previously took days or weeks to determine may often be done in minutes–that’s why we’re excited to participate in this financing round to grow and expand TriNetX’s offerings.”
The company was founded in 2013, and has partnered with healthcare organisations in 17 countries. Most recently, Medway NHS Foundation Trust in the UK joined the TriNetX global health research network in an effort to attract more clinical trials and enhance collaborative research with other healthcare organisations.