LONDON and NEW YORK -- uMotif today announced a new investment of $25.5m from a fund managed by Athyrium Capital Management, LP, the New York-based investment firm. The new funding will support continued scale up of uMotif's unique patient-first software platform for clinical research.
Catalysed by the Covid pandemic, the life sciences industry is increasingly adopting digital approaches for clinical and real-world research, including decentralization of trials. uMotif's unique software is available from app stores on any device, and is designed to provide pharmaceutical, biotech, medtech and Contract Research Organisation (CRO) clients with the most engaging patient data capture experience. By focusing on high quality design and modern cloud-native software, uMotif delivers high rates of data capture, patient retention, data quality and delivery speed - ultimately helping achieve faster, better trials. In an immunology study, uMotif's software engaged and retained participants so effectively, the data capture timelines were reduced by 33%, generating new insights faster.
Having deployed its software in over 30 countries globally including China and Japan, the uMotif platform powers all study designs, in all research settings. As study designs get more complex, with more burden placed on patients, uMotif helps simplify studies and delight the participants. uMotif has worked with many of the world's top pharma and biotech companies and CROs, including AstraZeneca, Abbvie and Syneos, powering unique insights and incredibly high data capture rates in excess of 90%.
The company continues to be supported by its existing investors AlbionVC and DNV, which led a Series A investment round in 2020. The new investment supports further international expansion and continued development of world-leading technologies, including unique and patent-protected solutions for pain, clinical outcome and symptom tracking. Having entered the US in 2021, and with support of a US-based healthcare investor, uMotif's North American team will significantly grow – including in sales, marketing and service delivery. This growth takes place alongside a continued focus on developing the industry's most patient-centric technology. uMotif works closely with partners to offer trial sponsors a seamless, beautiful and engaging patient-first experience to power site-based and decentralized trials.
Steve Rosenberg, CEO of uMotif said:
"We are delighted to welcome Athyrium to support our journey to be the most patient-centric platform for research. I truly believe that clinical research must put patients first, delivering more engaging research studies. With this investment from Athyrium I'm excited to grow our global capabilities to better serve our sponsors, partners and – most importantly – the patients we help take part in research."
Mark Kavulich, Partner at Athyrium said:
"Over recent years we have seen how the global eClinical market is significantly growing and quickly changing. uMotif's approach to engaging patients in research is truly differentiated, patent-protected and is built on technology ready to scale. We're excited to be joining the uMotif journey and supporting significant scale up in the coming years."
Rothschild & Co acted as financial advisor to Athyrium, and Ropes & Gray LLP acted as legal advisor to Athyrium. Bird & Bird LLP acted as legal advisor to uMotif.
About uMotif
uMotif's mission is to put patients at the center of clinical research. Designed with patients for patients, the uMotif patient-first eClinical platform powers site-based to fully decentralized clinical, real-world, and post-marketing research. By engaging patients and healthcare professionals, uMotif is trusted by global pharmaceutical companies, biotechs, CROs, and academic institutions to capture large volumes of eCOA/ePRO, symptom, and wearable device data. www.umotif.com
For press contact:
Sally Vernon: sally.vernon@umotif.com
About Athyrium Capital Management
Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $4.6 billion in committed capital. The Athyrium team has substantial investment experience across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, healthcare focused services, and healthcare information technology. The team partners with management teams to implement creative financing solutions to companies' capital needs. For more information, please visit www.athyrium.com.
