Dana Sokolova

The world of clinical trials is undergoing an evolution as the rise of decentralized clinical trials (DCTs) brings about a change in the way researchers conduct studies. With innovative technologies and novel approaches to trial management, a new breed of trailblazers is paving the way for the future of clinical research. In this blog article, we'll explore several companies making waves in the decentralized clinical trials landscape, showcasing the progress they have made in recent years. From blockchain-powered data management to AI-driven patient recruitment, these organizations are breaking down traditional barriers and empowering patients to participate in trials with greater ease, flexibility, and convenience.

The space is dominated by large contract research players, like IQVIA, In this post, we will focus on relatively young companies enabling decentralized clinical trials.

The biotech and pharmaceutical industries are entering 2024 amid a wave of innovation and technological advancement. 

The biopharma field is increasingly influenced by the advent of cutting-edge technologies such as artificial intelligence (AI), organ-on-a-chip systems, and gene editing therapies promising more personalized and precise treatments for a variety of conditions.

Nearly two decades ago, a groundbreaking discovery in the field of biomedical research emerged, known as organ-on-a-chip technology, which quickly captivated the interest of scientists across the globe. Led by a bioengineer Donald E. Ingber at Harvard University, this innovative approach aimed to recreate the complex structure and functions of human organs within laboratory settings. By using specialized techniques, researchers successfully developed miniature models of organs, opening up new possibilities for studying human physiology in the lab.

In 2023, the venture capital (VC) landscape witnessed significant activity, providing crucial support to the biotech sector amidst a volatile public-market environment. According to McKinsey & Co., despite a downturn following the peak in 2021, VC funding has maintained a strong presence, consistently surpassing pre-pandemic levels. This resilience is evident as 2023 has already seen over $12 billion raised by the end of the third quarter, a notable continuation from the $22 billion secured by startups in 2022. The overall decrease in funding is attributed more to fewer deals than diminished deal sizes, which have remained relatively stable.

In this article, we have selected 10 biotech companies that managed to secure impressive funding in 2023: 

With over half of the world's population being female, it's only natural that the world of femtech is experiencing a tremendous surge of interest. The numbers speak volumes. A recent research report by Global Market Insights predicts that the femtech market will soar beyond $48.5 billion by 2025. This exciting growth is fueled by the innovative integration of cutting-edge technologies such as tracking wearables, artificial intelligence (AI), intuitive apps, and noninvasive hardware, all aimed at revolutionizing female health and well-being.

Executives from the French AI drug discovery company Owkin have embarked on a new venture, launching Bioptimus, a startup dedicated to developing a large-language model (LLM) specifically for biotechnology. This initiative marks a significant leap in the application of LLM technology, commonly associated with platforms like ChatGPT, to the field of biotech.

In the ongoing pursuit of new drugs and medical treatments, the pharmaceutical sector faces a complex task: verifying the safety and efficacy of these potential advancements. Clinical trials, long-drawn, expensive, and fraught with uncertainty, act as the proving ground for these potential solutions. To overcome these challenges, pharma R&D teams are increasingly leveraging the power of artificial intelligence (AI) in clinical trials with the goal of improving efficiency and reducing costs.

The field of fertility treatments is experiencing a surge in demand, fueled by several significant factors. A shift towards starting families at a later age, the increasing number of same-sex couples seeking assistance, and concerning studies revealing a decline in male fertility are all contributing to this trend. According to the Pew Research Center, the use of fertility treatments to assist with the birth process in the US has more than tripled from 1996 to 2015.

The field of 3D bioprinting has emerged as a remarkable technological advancement in recent years. This revolutionary technique involves the fabrication of living tissues, including blood vessels, bones, hearts, and skin, through the process of additive manufacturing, commonly known as 3D printing. Unlike traditional printing, bioprinting not only requires living cells but also relies on a conducive environment to sustain their vitality, encompassing essential elements such as nourishment, hydration, and oxygenation. To facilitate optimal cell growth, researchers employ the strategic placement of cells around 3D scaffolds made from biodegradable polymers or collagen, providing a framework for the cells to mature into fully functional tissues.

Ever since the early 2000s, Artificial Intelligence (AI) has become a useful tool in various fields, from game design and speech recognition to powering driving cars and military applications. No wonder that big pharma companies are striving to keep up with technological progress and implementing AI in their internal R&D and business workflows.