SubjectWell Raises $35 Million to Expand Patient Access to New Treatment Options
/Asset Management Ventures leads Series B and is joined by Bertelsmann and existing investors
AUSTIN, Texas, October 20, 2022--(BUSINESS WIRE)--SubjectWell, the largest engagement platform for matching patients with chronic health conditions to new care options, today announced a $35 million Series B funding round led by Asset Management Ventures, with participation from all existing investors, and joined by Bertelsmann. This new investment will accelerate the growth of SubjectWell's existing clinical trial patient recruitment efforts, expand its support of cancer research, and fund production of its awareness initiatives for post-approval treatments.
SubjectWell now partners with 16 of the top 20 pharmaceutical companies and has grown revenue by 800 percent over the past two years. And due to high demand from customers and the release of new service offerings, SubjectWell is poised to double revenue again in the next 12 months.
"Patient recruitment remains the largest choke point in clinical development – despite over $5B being spent annually. SubjectWell’s highly differentiated and scalable solution markedly reduces our clients’ enrollment timelines," said Ivor Clarke, CEO, SubjectWell. "SubjectWell expands access to clinical trials by engaging the 96 percent of the population that has never participated in clinical research – this approach allows us to engage a much more diverse patient population as we register 250,000 new patients per month."
Earlier this year, SubjectWell leveraged its expanding patient reach to begin recruiting for non-small cell lung cancer studies and has since added support for breast cancer trials.