Biofourmis is debuting an expanded version of its digital clinical trials platform designed to cut costs by speeding up drug development while also boosting patient diversity.
The Boston-based digital therapeutics company has revamped its AI-powered platform to include digital tools support, trial decentralization, safety monitoring, customized care, and easier and equitable patient recruitment options. Other additions—such as remote data collection and digital endpoints from Biofourmis' library of biomarkers—are designed to help researchers accelerate clinical development, the company said in a Sept. 18 release.
Automating and accelerating trial processes for both researchers and participants can boost the likelihood that trial endpoints are met sooner, which subsequently cuts costs, Biofourmis Chief Operating Officer Jaydev Thakkar said in the release.
Biofourmis is backed by Softbank and General Atlantic and reeled in $300 million in series D funding in 2022 with the help of CVS. Just a few weeks ago, the company's founder and chief executive, Kuldeep Singh Rajput, resigned. His departure came a month after the company, which was founded in 2015, said it was letting go of 120 employees globally.