#United States #New York #Lindus Health #Balderton Capital #Citrus Platform

Lindus Health Revolutionizes Clinical Trials

Lindus Health, recognized as the 'anti-CRO', is making waves in the clinical trial sector following its successful $55 million Series B funding round, led by Balderton Capital. This innovative company is on a mission to transform how clinical trials are conducted, aiming to address inefficiencies that have long plagued the industry.

The Challenge with Traditional CROs

The current landscape of contract research organizations (CROs) is characterized by delays and escalating costs. It's no secret that traditional CROs often run trials over-budget and behind schedule—an alarming 85% of clinical trials do not meet their original timelines. The need for innovative approaches has never been more pressing, especially considering that the costs of developing new drugs have surged by nearly $300 million from 2021 to 2022 alone. This hefty price tag ultimately results in higher medication costs for patients.

Lindus Health's Unique Offering

Founded in 2021, Lindus Health has distinguished itself by leveraging in-house technology and a vertically integrated model. Unlike traditional CROs, Lindus Health offers a tech-first approach that facilitates end-to-end clinical trials with the help of its proprietary platform, Citrus™. This platform harnesses AI and big data to optimize the clinical trial process, streamline patient recruitment, and provide real-time monitoring and analysis of study data. The outcome? Clinical trials that are three times faster and yield higher quality data compared to those run by conventional CROs.

Co-founders Michael Young, Nik Haldimann, and Meri Beckwith are eager advocates of this needed change. "The antiquated CRO model is failing the industry and patients, driving up costs, and stalling vital research," states Beckwith. This sentiment is echoed by Young, who emphasizes the critical role that technology plays in overcoming traditional bottlenecks in clinical trials.

Funding to Fuel Expansion

The Series B funding will be directed toward further developing Lindus Health's innovative technology and enhancing its eClinical platform. This expansion will include hiring for key roles in clinical operations and product development to ensure that the company meets the growing demand for efficient and reliable clinical trials. Existing investors, including Visionaries Club, Creandum, Firstminute Capital, and Seedcamp, have rallied behind this endeavor, providing the necessary support to help Lindus Health achieve its ambitious goals.

Recognizing Impact

Lindus Health's commitment to enriching the research ecosystem has not gone unnoticed. It has already managed 42 end-to-end clinical trials, enrolling over 36,000 patients across North America and Europe. Collaborations with various organizations, such as Aktiia for a device study and Pharmanovia for insomnia treatment trials, showcase its contribution to tackling diverse health challenges.

In addition to their extensive network and ambition, Lindus Health has earned accolades for its pioneering use of machine learning to predict trial outcomes and optimize study design. Their collaboration with Oxford University further underscores their dedication to addressing gaps in clinical trial participation among diverse demographic groups.

Suranga Chandratillake, General Partner at Balderton, expresses enthusiasm for this investment: "In an industry marked by slow growth and fragmentation, Lindus Health stands out with its transformative vision for clinical trials and a steadfast commitment to improving patient outcomes."

The Road Ahead

As Lindus Health continues to break down barriers in clinical research, it aims to change the perception of clinical trials as a bottleneck in healthcare innovation. By combining cutting-edge technology with agile research methodologies, Lindus Health is setting the stage for swift and cost-effective drug development that can ultimately lead to better health care solutions for millions.

To explore more about Lindus Health and its innovative approach to clinical trials, visit www.lindushealth.com.