SAN DIEGO, Feb. 08, 2023 (GLOBE NEWSWIRE) — Faro Health Inc. , a cloud-computing company that is developing digital infrastructure for smart clinical trials, today announced $20 million in additional funding. The round was led by global venture capital firm General Catalyst with participation from previous investors Section 32 , Polaris Partners , Zetta Ventures , and Northpond Ventures . General Catalyst Partner Elena Viboch will join Faro’s Board of Directors. Designing and executing clinical trials has become increasingly complex. However, the tools to support these studies have not kept up. Protocols are still drafted as long-form documents and authors have no tools to evaluate their complexity or burden on patients. At the same time, the number of endpoints measured in a clinical study has grown by 27% over the past decade and patients are asked to undergo 44% more assessments, which can range from written data collection to a blood draw. This growth also shows no signs of slowing down. Existing tools for clinical study protocol development have not evolved to handle the growing complexity of the study data required to support market access, and there are no tools to support rapid translation of a protocol into the […]
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