Paradigm Health Secures $78 Million Series B to Revolutionize Clinical Trials
Paradigm Health, an innovative technology company focused on enhancing the clinical research ecosystem, has announced a successful Series B financing round, securing $78 million in funds. This funding round, which was oversubscribed, was led by ARCH Venture Partners, with significant participation from NSJ Ventures, DFJ Growth, and a host of existing investors, including F-Prime, General Catalyst, and Lux Capital, among others.
The objective behind this substantial financial boost is to fundamentally transform how clinical trials are conducted, with the goal of making them more accessible to patients across the United States and worldwide. As demand rises from global biopharmaceutical companies for streamlined trial processes, Paradigm Health is well-positioned to expand.
Currently, the company manages Phase I–III oncology trials for 15 of the top 20 pharmaceutical firms globally. According to Robert Nelsen, Managing Partner at ARCH Venture Partners and Co-Founder of Paradigm Health, the efficient management of trials plays a crucial role in hastening the availability of new treatments for patients. He noted, "When trials run more efficiently, new treatments reach patients sooner. Paradigm Health is creating the necessary infrastructure that the industry requires—an integrated platform that allows hospitals and sponsors to execute studies more rapidly and intelligently while significantly reducing costs. This will expedite the commercialization of groundbreaking therapies and enhance access for current patients."
In light of its recent acquisition of Flatiron Health's Clinical Research Business, Paradigm Health now operates the largest oncology research network in the United States. This expansion will enable the company to extend its service offerings into other therapeutic areas including neuroscience, cardiovascular diseases, and metabolic conditions, where research needs are acute.
Kent Thoelke, the CEO of Paradigm Health, commented, "Clinical trials are essential for evolving patient care. Unfortunately, the current trend sees most research concentrated in academic centers because they possess the requisite personnel and infrastructure to effectively manage trials. Patients situated in community and rural areas often lack access to trials, which not only underrepresents their experiences but also hinders progress in innovation. Paradigm Health is committed to developing a scalable trial ecosystem that is seamlessly integrated into existing clinical workflows, allowing various healthcare systems to engage in research with minimal resource allocation."
With a presence across 45 states and building partnerships with 166 healthcare organizations, Paradigm Health has enhanced accessibility to clinical trials for roughly 70% of the cancer patient population in the U.S. This network includes a diverse range of providers, comprising 123 community oncology practices and 43 health systems—23 of which are recognized as NCI-Designated Cancer Centers. The company's AI-enhanced infrastructure streamlines patient matching and site feasibility assessments. This innovation has enabled healthcare systems to engage in trials four times faster than traditional methods while alleviating the burden on providers and expediting timelines for biopharma sponsors.
Moreover, Paradigm has unveiled a Trial Design Service that facilitates sponsors in designing and implementing both interventional and pragmatic trials directly within the existing framework of routine care. This move comes at a critical moment as AI technologies significantly advance drug development, highlighting Paradigm Health's role as a vital player in the industry.
By leveraging its expansive network and state-of-the-art platform, Paradigm Health stands out as a preferred partner for biopharmaceutical companies and healthcare systems that are striving to seamlessly integrate clinical research with patient care in communities where it is necessary. As the healthcare landscape continues to evolve, Paradigm Health’s mission to cultivate equitable access to clinical trials for all patients remains at its core, ultimately striving to ensure that cutting-edge therapies reach those who need them most, faster than ever before.
The objective behind this substantial financial boost is to fundamentally transform how clinical trials are conducted, with the goal of making them more accessible to patients across the United States and worldwide. As demand rises from global biopharmaceutical companies for streamlined trial processes, Paradigm Health is well-positioned to expand.
Currently, the company manages Phase I–III oncology trials for 15 of the top 20 pharmaceutical firms globally. According to Robert Nelsen, Managing Partner at ARCH Venture Partners and Co-Founder of Paradigm Health, the efficient management of trials plays a crucial role in hastening the availability of new treatments for patients. He noted, "When trials run more efficiently, new treatments reach patients sooner. Paradigm Health is creating the necessary infrastructure that the industry requires—an integrated platform that allows hospitals and sponsors to execute studies more rapidly and intelligently while significantly reducing costs. This will expedite the commercialization of groundbreaking therapies and enhance access for current patients."
In light of its recent acquisition of Flatiron Health's Clinical Research Business, Paradigm Health now operates the largest oncology research network in the United States. This expansion will enable the company to extend its service offerings into other therapeutic areas including neuroscience, cardiovascular diseases, and metabolic conditions, where research needs are acute.
Kent Thoelke, the CEO of Paradigm Health, commented, "Clinical trials are essential for evolving patient care. Unfortunately, the current trend sees most research concentrated in academic centers because they possess the requisite personnel and infrastructure to effectively manage trials. Patients situated in community and rural areas often lack access to trials, which not only underrepresents their experiences but also hinders progress in innovation. Paradigm Health is committed to developing a scalable trial ecosystem that is seamlessly integrated into existing clinical workflows, allowing various healthcare systems to engage in research with minimal resource allocation."
With a presence across 45 states and building partnerships with 166 healthcare organizations, Paradigm Health has enhanced accessibility to clinical trials for roughly 70% of the cancer patient population in the U.S. This network includes a diverse range of providers, comprising 123 community oncology practices and 43 health systems—23 of which are recognized as NCI-Designated Cancer Centers. The company's AI-enhanced infrastructure streamlines patient matching and site feasibility assessments. This innovation has enabled healthcare systems to engage in trials four times faster than traditional methods while alleviating the burden on providers and expediting timelines for biopharma sponsors.
Moreover, Paradigm has unveiled a Trial Design Service that facilitates sponsors in designing and implementing both interventional and pragmatic trials directly within the existing framework of routine care. This move comes at a critical moment as AI technologies significantly advance drug development, highlighting Paradigm Health's role as a vital player in the industry.
By leveraging its expansive network and state-of-the-art platform, Paradigm Health stands out as a preferred partner for biopharmaceutical companies and healthcare systems that are striving to seamlessly integrate clinical research with patient care in communities where it is necessary. As the healthcare landscape continues to evolve, Paradigm Health’s mission to cultivate equitable access to clinical trials for all patients remains at its core, ultimately striving to ensure that cutting-edge therapies reach those who need them most, faster than ever before.
Topics Health）
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