Headquartered in Paris, Inato helps biopharmaceutical companies increase the pool of available patients engaged in clinical trials by discovering untapped research site potential. Recently, the company has raised €13 million in a Series A round of venture capital financing.
The company will use the funding to expand its predictive capabilities to match the right sites with the right studies and develop a comprehensive network of clinicians worldwide.
The financing was led by Obvious Ventures and Cathay Innovation, with participation from previous investors Serena and Fly Ventures. This French startup matches the best sites for any given study and ensures that site partners in the Inato network are successfully delivering trials.
To date, Inato’s platform has helped biopharmaceutical companies and clinicians across more than 2,000 research sites and over 50 global trials. In addition, more than 3,500 doctors across 75 countries have used it to offer promising treatments to their patients.
Inato Co-Founder and CEO Kourosh Davarpanah said:
Five percent of the world’s research sites are conducting the vast majority of today’s clinical trials. When you consider that the average cost of bringing a drug to market is around $2 billion, with about two-thirds of those costs tied to clinical trials, it’s clear there’s an urgent need for greater efficiency. Our mission is to bring new doctors and their patients into the clinical research ecosystem to unlock the potential of the many unengaged research sites—so biopharma can bring innovative therapies to market faster.
Denis Barrier, Co-founder, and CEO of Cathay Innovation added:
We are proud to participate in this major step in Inato’s development. Our team was deeply impressed by Inato’s growing platform and capabilities. We believe that Inato’s approach is likely to revolutionize medical trials and drug discovery, and we will make sure to support the management’s vision and plan through our global network. The massive changes happening in healthcare have triggered both an important investment focus for our funds and a deep involvement between our platform and our ecosystem partners.
Main image credits: Inato
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