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An Orlando-based company that allows people to participate in groundbreaking medical trials from home just hauled in tens of millions of dollars in funding.
ObvioHealth USA Inc. raised $31 million in its latest fundraising round, with $18.5 million originating from a partial Series B round, the company announced July 1. The investment allows ObvioHealth to invest further in its virtual clinical trial platform. It also will enable dozens of new hires this year, founder and CEO Ivan Jarry told Orlando Business Journal.
ObvioHealth’s platform enables companies to recruit for and carry out virtual clinical trials in the health care industry. The company’s smartphone app lets trial participants take part from their own home, and ObvioHealth claims virtual clinical trials on its platform result in recruitment that is four times faster than normal, 60% fewer participant dropouts and 48% higher adherence to the trial medication.
