TriNetX, the global health research network, which optimizes clinical research and enables discoveries through the generation of real-world evidence, bags $40 million in series D funding. The latest funding takes the company’s total funding to $102 million. TriNetX plans to use the new finances to accelerate the company’s ongoing international expansion efforts in Europe, Asia and South America.
The recent round of financing was led by Merck Global Health Innovation Fund (Merck GHIF) with many new investors like Mitsui & Co., ITOCHU Technology Ventures, ITOCHU Corporation, and various existing investors like MPM Capital, F2 Ventures, and Deerfield Management. TriNetx has designed a real-world evidence ecosystem that helps to bring data, analytics and the researcher community on the same page to aid in the design of randomized or pragmatic clinical trials. Along with the expansion plans, the company also aims to utilize the funding to develop an innovative analytics platform in the areas of artificial intelligence (AI), machine learning (ML), and digital clinical trials.
TriNetX provides web-based on-demand access to harmonized clinical and claims data with a suite of highly effective analytics that enables researchers to apply a data-driven approach to clinical trial design, site selection and the generation of RWE. The company’s clinical and claims data which represents more than 300 million patients is mapped to controlled terminology. The data consists of all the results and facts of clinical trials from various healthcare organizations, linked medical claims, pharmacy claims, and EMR data.
TriNetX has revolutionized clinical research by combining real-time access to longitudinal clinical data with state-of-the-art analytics. The analysis helps healthcare companies in solving complex research questions in real-time. The company’s platform adheres to the HIPAA and GDPR compliance regulations, which has helped the company to enhance its customer base to 29 companies. TriNetX’s customer includes some of the industry leaders like Novartis, Sanofi, Pfizer, and many contract research organizations (CROs). The company has expanded its business across 17 countries, including the US, UK, Germany, Italy, Japan, Singapore, India and Brazil.