TriNetX Secures $40 Million Series D Funding Led by Merck to Advance Clinical Research Data Platform

VCBeat (WeChat Official Account: vcbeat) has learned that on March 13, 2019, TriNetX, a health network company headquartered in Cambridge, Massachusetts, USA, announced the completion of its $40 million Series D financing round. The round was led by Merck Global Health Innovation Fund (Merck GHIF), with participation from Mitsui & Co., Ltd., ITOCHU Technology Ventures, ITOCHU Corporation, MPM Capital, F2 Ventures, and Deerfield Management.

It is reported that the new financing will be used to accelerate TriNetX’s market expansion in Europe, Asia, and South America, and to speed up its internationalization process. The funds will also be allocated to further develop TriNetX’s industry-leading analytics platform, particularly in the fields of artificial intelligence, machine learning, and digital clinical trials. Previously, the company completed a $2.5 million venture capital financing round in February 2016.

“The landscape of clinical research is evolving, with the industry shifting toward leveraging data-driven insights to power clinical studies and market surveillance. TriNetX is leading this disruption,” said Gadi Lachman, CEO of TriNetX. “We have created the only real-world evidence ecosystem that integrates data, analytics, and researchers to help design randomized or pragmatic clinical trials and support observational studies.”

TriNetX enables researchers to apply data-driven approaches to clinical trial design, site selection, and the generation of real-world evidence (RWE). Through a suite of highly intuitive analytics, it provides web-based, on-demand access to clinical and claims data for users. TriNetX offers clinical and claims data from over 300 million patients worldwide, including clinical cases from hundreds of healthcare organizations, specialized data across therapeutic areas, as well as associated medical claims, pharmacy claims, and electronic medical record (EMR) data.

Since its commercial launch, TriNetX has expanded its client base to 29 industry customers, including nine of the top 15 global pharmaceutical companies—such as Novartis, Sanofi, and Pfizer—as well as the top five global contract research organizations (CROs). Furthermore, TriNetX is powered by a network of healthcare organizations across 17 countries, including the United States, the United Kingdom, Germany, Italy, Japan, Singapore, India, and Brazil.

“Real-world data is critically important in today’s clinical trials, drug research, and discovery,” said Joe Volpe, Vice President and Managing Director of the Merck Global Health Innovation Fund. “TriNetX enables global industry collaboration and ensures the effective utilization of data. With TriNetX, tasks that previously took days or weeks to complete can often be accomplished in minutes—which is why we are delighted to participate in this funding round to support the growth and expansion of TriNetX’s offerings.”

TriNetX is a global health research network that enables healthcare organizations, biopharmaceutical companies, and contract research organizations (CROs) to collaborate, accelerating the time-to-market for new therapies. The TriNetX network platform combines real-time access to longitudinal clinical data with state-of-the-art analytics to rapidly address complex research questions.

Merck Global Health Innovation Fund (Merck GHIF) provides growth capital to emerging medical technology companies worldwide by leveraging its healthcare ecosystem strategy, while enabling these companies to tap into Merck’s extensive global R&D resources. Since late 2010, Merck GHIF has made more than 50 investments in digital health companies.

Mitsui & Co., Ltd. is a global trading and investment company headquartered in Japan, actively engaged in a wide range of investments through 136 offices across 66 countries/regions and 472 subsidiaries and affiliated businesses. Mitsui holds one of the world’s largest healthcare-related investment portfolios, including investments in hospitals, pharmaceuticals, medical devices, and dialysis clinics.

(Compiled by Ning Chen)