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Pharma Tech Outlook | Thursday, December 17, 2020
The capital injection will allow Kayentis to scale its technological developments and accelerate its US market footprint.
FREMONT, CA: Kayentis, a global provider of digital data capture systems for clinical trials, raises approximately 7M in growth capital. Kayentis historical investors Extens and LBO France led the round, renewing their confidence in the company's prospects and its potential to meet new expectations in clinical trials' digitalization. New entrant Bpifrance takes a stake in Kayentis capital. Kayentis is active in the electronic Clinical Outcome Assessment (eCOA) market, estimated to reach $2.6 billion by 2027. Market growth in eCOA, a method of capturing outcomes data electronically in clinical trials, are driven by the clinical trials industry.
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In the regulated field, the technological robustness, simplicity, and efficiency of the Kayentis digital platform and its expertise allow pharma and biotech companies to decrease clinical trials' logistical and physical hurdles on investigative sites and patients. This enhances retention rates, increases the quality of study data, and fulfills regulatory demands. This year, it has pharma & biotech, investigative sites, and patients mitigate the disruptions supported of COVID-19 on clinical trials. The company has grown fast, with a CAGR of over 40 percent between 2017-2020, in a market increasing at a CAGR of 15.3 percent in the period 2017 to 2025.
This recent funding is testimony to the trust shareholders hold in Kayentis potential. It enables their confidence in fully satisfying the demands for digital data integrity and expertise in the clinical trials market. The company's roadmap is geared towards offering more innovation and operational capacity to improve decentralized, virtual, and remote trials. Patient-facing technologies are playing a vital role. These provisions are vital in helping clients bring therapies to market.
The latest funding will take Kayentis beyond eCOA with more options designed to improve the patient experience and support clinical trial digitalization. Kayentis will empower its new eCOA platform - Clin'form3 - with the latest functionalities and services to help post-COVID new normal and decentralized clinical trials
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