ePatientFinder, a healthcare technology company that connects physicians with potentially life-changing clinical trials for their patients, announced today that it has secured $8.2 million in Series B financing from a strategic healthcare technology investor syndicate. The funding increases its total capital raised to nearly $11 million.
ePatientFinder will use the capital from this latest funding round to fuel the company’s next stage of growth. Its Clinical Trial Exchange platform connects life-science companies — including numerous “top 10” pharmaceutical, medical device and contract research organization (CRO) clients — with a network of physicians within clinics, hospitals, and accountable care organizations that identify and refer patients for potential clinical trial enrollment.
The Clinical Trial Exchange is deployed through numerous top-tier electronic health record and health IT partnerships. Over time, ePatientFinder intends to add additional healthcare providers and EHR partners to the exchange, further accelerating the growth of the referring provider network.
With access to millions of patient lives and powered by sophisticated algorithms from EHR data, ePatientFinder uses a three-tier filtering process to help physicians identify and refer patients eligible for clinical trials and newly approved procedures that they likely would not have known about otherwise — with the goal of leaving no patient behind.
“The successful closing of this round of funding underscores ePatientFinder’s leadership role in solving the clinical trials recruitment challenge by leveraging the trusted physician-patient relationship and EHR data,” said ePatientFinder CEO and co-founder Tom Dorsett. “Our partners and investors share our vision to address inefficiency in the clinical trial recruitment process through the use of technology-enabled solutions. The additional financing will allow us to further expand patient access to available treatment options through our platform.”
ePatientFinder’s focus on increasing awareness of clinical trials so that more eligible patients can be enrolled more quickly can accelerate the clinical trials process and potentially save many millions of dollars in recruitment costs that can instead be used to further drug development and research, Dorsett explained.
“An average of 86 percent of patients express interest in opting into the clinical trial screening process that we offer,” Dorsett said. “As we continue to scale our provider network throughout the country via partnerships with our EHR partners and trial sponsors, we’ll be able to help even more physicians help their patients.”