Thread Secures $50 Million to Expand Operations and Business Reach

Thread’s platform and supporting services are helping customers to reduce study launch timelines, reduce study budgets with Virtual Visits, and bring studies from the clinic to patients’ homes.

FREMONT, CA: Thread, an innovative technology and service provider that allows decentralized clinical research, raised $50 million in funding from strategic healthcare investors, Water Street Healthcare Partners, and JLL Partners.

The company’s latest capital infusion builds on a year of significant growth and investments in its platform and services to advance decentralized research approaches for large-scale, Phase Ib – IV global clinical trials.

Led by John Reites, President, and Sean Vassilaros, COO, Thread is a leading provider of proprietary, decentralized research platform and suite of supporting services used by biopharma, CROs, and life science organizations. It helps to remotely capture data from participants and sites during, in-between, and instead of in-clinic visits.

The company provides vital platform features such as eConsent, eCOA/ePRO, sensors, reminders, and telehealth Virtual Visits to support remote data capture, hybrid virtual studies, and fully decentralized studies in critical therapeutic areas.

Thread has utilized the healthcare firms’ combined pharmaceutical expertise, a network of industry resources and capital over the past year to:

• Expand its global footprint to more than 40 countries;

• Add new features to its proprietary, configurable decentralized research platform;

• Enhance its capabilities and provide 24×7 global, multilingual customer support;

• Rapidly develop and implement COVID-19 clinical trial risk mitigation tools to advance critical research during the pandemic;

• Ultimately support customers with virtual visits, hybrid decentralized studies

• Fully decentralized studies customized to their individual study needs in key therapeutic areas.

Currently, Thread has supported more than 100 decentralized studies and will continue to invest in expanding and enhancing its innovative platform. It will support services as a growing list of the world’s leading pharmaceutical and life science organizations engage in the company as their partner for their clinical research studies. 

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