Paradigm Health Raises $78M in Series B Funding to Revolutionize Clinical Research Ecosystem

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The company aims to enhance the efficiency of clinical trials and expand patient access across the U.S. and globally, leveraging AI-enabled infrastructure and recent acquisition of Flatiron Health's Clinical Research Business. The funding will be used to foster the company's expansion and improve patient access to trials, aiming to make clinical research an integral part of patient care across various communities.

Paradigm Health, a technology company focused on transforming the clinical research ecosystem, has announced a successful $78 million Series B financing round. The funding was oversubscribed and led by ARCH Venture Partners, with participation from new investor DFJ Growth and existing investors such as F-Prime, General Catalyst, GV, Lux Capital, Mubadala Capital, the American Cancer Society's BrightEdge Fund, and others. The company aims to enhance the efficiency of clinical trials and expand patient access across the U.S. and globally.

Paradigm Health will utilize the new funding to drive its expansion in response to increasing demand from global biopharmaceutical companies for more streamlined trials and from health systems seeking to offer trials to patients closer to their routine care locations. Notably, the company currently supports Phase I–III oncology trials for 15 of the top 20 global pharmaceutical companies. The acquisition of Flatiron Health's Clinical Research Business has further bolstered Paradigm Health's position, enabling it to operate the largest oncology research network in the United States and expand its commercial business into other therapeutic areas. The company's platform now spans 45 U.S. states and 166 healthcare provider organizations, with 2,100 care locations, facilitating easy access to clinical trial sites for 70% of the U.S. cancer population.

Through its AI-enabled infrastructure, Paradigm Health has significantly accelerated patient matching and site feasibility, resulting in a fourfold increase in accrual to trials for health systems while reducing provider burden and accelerating timelines for biopharma sponsors. Additionally, the company has launched a Trial Design Service to facilitate the design and execution of interventional and pragmatic trials. Overall, Paradigm Health is focused on democratizing access to cutting-edge therapies by making clinical research an integral part of patient care across various communities.

The company's vision is to create a seamless infrastructure that promotes equitable access to trials for all patients while enhancing trial efficiency and reducing barriers to participation for healthcare providers.