It is reported that the Softbank Vision Fund is continuing its aggressive investment strategy and plans to invest $150 million in a medical clinical trial venture called Science 37.
According to people familiar with the matter, the Vision Fund is currently negotiating an investment negotiation with the telemedicine company, hoping that the new funds will help researchers find participants in the medical trials. It is reported that the transaction value of the company is about 300 million US dollars.
While this is a small deal for the Vision Fund, it is another sign of investor interest in life sciences and biotechnology companies. Although there are notorious losers like Theranos in this field, health technology startups like 23andMe are now very popular with venture capitalists. Some venture capital firms have even begun to set up well-established funds that focus on investing in biotechnology.
Softbank’s vision fund of $100 billion has reshaped the financial landscape of Silicon Valley. Last year, it led a $1.1 billion financing round from Roivant Sciences, a $260 million financing round for cancer research, 3.6 billion US dollars for Guardant Health, a cancer biotech company, and a $500 million financing round from Vir Biotechnology. Mainly respond to infectious diseases). This investment will be the fourth trading of the Vision Fund in its health sciences.
Currently, Softbank declined to comment; Science 37 did not respond to requests for comment.
Science 37 was founded in Los Angeles four years ago, and its founder Noah Craft has a doctorate in medicine and a doctorate. The company helps pharmaceutical companies and equipment manufacturers find patients who are willing to help test new therapies. The venture is directly competitive with traditional contract research organizations (CROs), but Science 37 allows participants to complete research from a comfortable home, which allows the company to obtain a more representative sample of clinical participants.
“Because of geographical constraints, lack of patience and trust, and inconvenience caused by field visits, 80% of clinical trial delays have occurred, and less than 3% of eligible patients are able to participate voluntarily,†the venture is on its website. Said, "This means patients need to wait longer to get better treatment."
However, some venture capitalists say they do not believe that the company can increase revenue by expanding its business. Science 37 is not done through regular customers, but on a project-by-project basis. According to people familiar with the matter, the company generated about $10 million in revenue last year. The valuation of Science 37 in the latest round of financing in April 2017 was approximately $200 million. Previous investors include Lux Capital and GV.
Infrared Thermal Imager,Thermal Camera,Infrared Thermography,Infrared Thermal Scanner
Shandong Freedoms Technology Co.,Ltd , https://www.sdfreedomtech.com