AI platform that connects people with the most suitable clinical trial within 5 minutes.
Business overview
Location | London, United Kingdom |
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Social media | |
Website | trials.clinicalnet.com |
Sectors | Healthcare Digital Mixed B2B/B2C |
Company number | 12262283 |
Incorporation date | 15 Oct 2019 |
Investment summary
Business highlights
- AI product developed, validated and marketed
- Ongoing talks for partnerships with major stakeholders
- Over 1,700 users since launch
- Access to over 69,000 clinical trials globally
Key features
Idea
Introduction
Clinical Net is a health-tech company committed to ensuring that everyone has easy access to the most innovative treatments in clinical trials while also tackling one of the largest challenges faced by the pharmaceutical industry.
Many patients seeking innovative therapies for incurable diseases struggle to find appropriate clinical trials. At the same time, over 75% of these trials face delays due to a lack of participants, slowing down clinical research and costing millions for each day of delay.
Current methods to find and connect to clinical trials are largely inefficient, time-consuming, and cost-ineffective. In addition, we believe some of them depend heavily on already overworked healthcare professionals.
Clinical Net is a revolutionary AI-driven platform with over 69,000 clinical trials globally, enabling patients and professionals to connect the most suitable trial in just 5 minutes, while emerging as a game-changer in the $3.73 billion patient recruitment market.
Substantial accomplishments to date
In only 5 months since the launch of our the Clinical Net platform in the UK, we have achieved:
• Surpassed 25,000 page views and more than 1,700 users, demonstrating early market interest.
• In discussions to form alliances with 7 patient advocacy groups aiming to increase our user base, and with 2 medical societies gaining endorsements from healthcare professionals.
• In talks with 5 global pharmaceutical firms for potential partnerships, with a view to positioning Clinical Net as a trusted partner in clinical research.
• In process to establish collaborations with 2 major research institutes, to showcase trust and commitment from the research community.
• Partnered with DaSH-Global to syncronise Clinical Net with their proprietary real-world data platform, widening our network and user base.
• Gained recognition in our industry, featured in the Life Science Review journal as “Top 5 Biotech Startups in the UK” and “Top 5 Clinical Trial Services Companies in the UK.”
Monetisation strategy
Clinial Net will look to generate revenue through two main monetisation strategies.
1. Pharmaceutical Companies (Subscription Model):
Pharmaceutical companies pay for subscriptions that allow patients matched to their clinical trials to be automatically connected to their clinical trial teams. This ensures that every potential participant is efficiently navigated to their trials, optimising recruitment timelines potentially saving millions for pharmaceutical companies.
2. Patient Management Software for Hospitals and Clinics (Licence Sales):
We will offer licenses to patient management system providers, allowing them to integrate our cutting-edge trial matching technology directly into thousands of patient's files. Hospitals and clinics using these systems could offer their patients instant access to suitable clinical trials, increasing Clinical Net's user base, and offering a larger and more diverse pool of potential participants to pharmaceutical companies.
Use of proceeds
Our strategic plan for fund allocation over the next 12 months is designed to strike a balance between technological innovation and market expansion.
Product Development (39%):
• Continuous improvement of existing features and algorithms.
• Implementation of trial matching based on automatic patient file scanning, including integration of genetic test results.
Sales & Marketing (36%):
• Launching targeted awareness campaigns to boost brand visibility and user uptake in both the UK and US markets.
• Engaging in strategic partnerships and collaborations to enhance our market presence.
Operations (15%):
• Streamlining both internal and customer-facing processes for enhanced efficiency and productivity.
• Upgrading our infrastructure to accommodate a growing user base and increasing platform demands.
Risk, Compliant, Management & Others (10%):
• Managing security and compliance with industry standards and regulations.
• Safeguard our operations and intellectual properties.
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