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TrialSpark is establishing a next-generation pharmaceutical company dedicated to bringing new treatments to patients more quickly and efficiently.
Fremont, CA: TrialSpark is a technology-driven pharmaceutical company that conducts end-to-end clinical trials with the goal of bringing new treatments to patients more quickly and efficiently. The firm has created a technology platform that optimizes every aspect of a clinical trial, allowing for more efficient trial design, faster trial completion, and higher trial data quality. Through in-house development, joint ventures, and NewCos, TrialSpark acquires and co-develops drug programs.
TrialSpark secured $156MM in Series C funding. Sam Altman and Lachy Groom led the round, with active participation from new and existing investors, including Sequoia Capital (Series A lead), Thrive Capital (Series B lead), Casdin Capital, Dragoneer, Section 32, Felicis Ventures, John Doerr, Spark Capital, Sound Ventures, Arrowmark, and previous investors.
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TrialSpark is establishing a next-generation pharmaceutical company dedicated to bringing new treatments to patients more quickly and efficiently. Despite the dramatic technological advances that are transforming biotechnology, bringing a new drug to market still takes more than ten years and costs billions of dollars. Development time and costs continue to rise, contributing to soaring drug prices, inflated healthcare costs, and, ultimately, reduced patient access to treatments.
TrialSpark's thesis is that in today's world, where the long and expensive clinical trial process is the most significant bottleneck in drug development, the competitive advantage one wants as a pharma company is the ability to run clinical trials cheaper and faster.
TrialSpark is constructing a full-stack pharmaceutical company that can develop drugs in-house faster and more efficiently than traditional pharmaceutical companies, motivated by the belief that every day saved in the clinical trial process is one day closer to a patient receiving a life-changing treatment.
"A lot of people complain about the mournful cost of bringing a new drug to market, but TrialSpark is actually doing something about it," stated Sam Altman, CEO of OpenAI. "Clinical trials are needlessly complex and expensive, and this directly contributes to the cost of drugs and keeps many promising drugs from ever coming to market. TrialSpark can fix this."
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