Medable
Driving Clinical Trial Innovation

PALO ALTO -Medable Inc., announced that it ranked in the top 8 percent (#398) and was one of the top 50 software companies on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. Medable’s ranking was fueled by its strong three-year growth rate of 1,453% from 2019 through 2022.

The Inc. 5000 ranking for this year demonstrates a median growth in revenue of 219%. Collectively, the featured companies generated approximately $358 billion in revenue for the year 2022 and were responsible for the creation of nearly two million jobs. Distinguished enterprises such as Facebook, Chobani, Under Armour, Microsoft, and numerous others received their initial nationwide recognition by being included in the prestigious Inc. 5000 list.

“We’re on a mission to enable effective therapies to reach patients faster, and that requires us to build an enduring business,” said Dr. Michelle Longmire, CEO and co-founder of Medable. “We continue to focus on transforming clinical trial delivery and generating differentiated value for our customers and for patients. It’s a true honor to be among such great companies, and this recognition is testament to our outstanding team and our incredible customers.”

Medable has successfully implemented its software-as-a-service platform across over 300 decentralized and hybrid clinical trials spanning 60 countries. This extensive reach has benefited more than one million patients and research participants on a global scale. Noteworthy outcomes from Medable's clientele include remarkable achievements in decentralized and hybrid trials, such as a 200 percent acceleration in enrollment and a substantial 50 percent reduction in costs.

An analysis conducted in 2022 by the Tufts Center for the Study of Drug Development, which incorporated industry benchmarks and Medable data, assessed the financial implications of decentralized trials. The findings revealed that, on average, Phase II and Phase III trials adopting decentralized approaches can yield net financial advantages ranging from five to 13 times, primarily due to shortened trial durations and other contributing factors.

The rankings of the 2023 Inc. 5000 companies are determined based on the percentage growth in revenue spanning the years 2019 to 2022. Eligibility criteria mandate that these enterprises must have been established and generating revenue by March 31, 2019. Additionally, they must be privately held, for-profit entities situated in the United States, maintaining independence as of December 31, 2022.

“Running a business has only gotten harder since the end of the pandemic,” says Inc. Editor-in-Chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”

The comprehensive outcomes of the Inc. 5000, encompassing detailed company profiles and an interactive database that allows sorting based on industry, metropolitan area, and various other criteria, are available on the official Inc. 5000 website.

Medable has entered into an enterprise partnership with Pluto Health, a provider of intelligent care coordination services. This strategic collaboration combines the strengths of both companies: Pluto Health's health coordination platform and Medable's digitally-enabled clinical trials platform. The goal is to expedite clinical development, enhance access to clinical research, and elevate data quality. Notably, this partnership will transform the patient experience by granting patients more control and the ability to directly share their health data with clinical trials through seamless integration.

The success of a clinical trial relies on the ability to enroll a predetermined and representative number of study participants within a specified timeframe, all while ensuring the collection of high-quality data to meet the study's objectives. However, due to increasing protocol complexity, stringent inclusion/exclusion criteria, and manual data collection processes, clinical trials continue to be slow and expensive, limiting access to many patients, particularly those for whom a clinical trial represents their best potential treatment option.

Medable and Pluto Health's combined technologies will streamline enrollment and retention efforts by enhancing the patient experience and simplifying recruitment and monitoring processes. Patients will benefit from additional support that optimizes their engagement throughout their healthcare journey, clinical research sites will see increased productivity thanks to data-driven, digitized screening processes, and trial sponsors will enhance cost efficiency and accelerate study execution.

“Our partnership is primarily a win for patients, alongside other stakeholders, who will benefit from ongoing enhanced support,” said Dr. Joy Bhosai, Pluto Health’s CEO and Founder. “Pluto is passionate about improving patient care in communities and designing systems that deliver resources for patients to manage health needs over time, especially if they are going through a clinical trial as part of a care option. We are excited for what the future holds with Medable.”

Beyond patient enrollment, the collaboration between Medable and Pluto Health will simplify the process for study teams to access pertinent patient data, enhance data quality, and enable seamless, extended post-trial follow-up with patients. Additionally, patients will have the option to opt-in for real-time notifications regarding medically significant future clinical trial opportunities.

Medable CEO and co-founder Dr. Michelle Longmire added, “As a fellow female physician entrepreneur, I connected instantly with Joy and respect her company’s mission. Together, our organizations will leverage advanced technologies to reduce inefficiencies from trial execution and deliver better site and patient experiences while expanding access to clinical research to more patients when they need it most. Medable looks forward to a fruitful partnership with Pluto Health to help drive more life-saving therapies to patients faster.”

In today's fragmented healthcare landscape, Medable and Pluto Health are joining forces to connect patients with the right medical resources, ranging from access to clinical trials to the convenient delivery of medications to their homes. Dr. Bhosai emphasized, "In both patient care journeys and clinical trials, there are numerous complexities that can cause individuals to veer off course. Our objective is to assist patients in navigating a path toward better healthcare." Pluto Health has made substantial contributions by monitoring and closing nearly 500,000 care gaps, which encompass issues such as missing preventive health immunizations and providing support for colon cancer screenings.

Medable has successfully implemented its software-as-a-service platform in over 300 decentralized and hybrid clinical trials across 60 countries, serving a global population of more than one million patients and research participants. Notably, Medable's clients have achieved remarkable results with decentralized and hybrid trials, including a 200 percent increase in enrollment speed and a 50 percent reduction in costs. A financial analysis conducted in 2022 by the Tufts Center for the Study of Drug Development, utilizing industry benchmarks and data from Medable, revealed that decentralized trials can, on average, yield net financial benefits ranging from five to 13 times for Phase II and Phase III trials. This is attributed to reduced trial durations and other contributing factors.

Medable's partnership with Pluto Health aligns with the company's strategy to accelerate comprehensive evidence generation from study initiation to conclusion. To learn more, you can visit Medable at HLTH 2023 (Oct 8-11) in Las Vegas, NV, and schedule one-on-one meetings by contacting lbarbadora@bigvalley.co.

Recognition underscores the impact of Medable’s evidence generation platform on clinical research worldwide

PALO ALTO - Medable Inc., announced that its evidence generation platform was awarded “Best Digital Health Solution” from a field of 24 nominees at the Prix Galien USA Forum in New York City. Worldwide, the Prix Galien Award is regarded as the equivalent of the Nobel Prize for the life science industry. Winners from this year’s cohort include respected companies such as Bristol Myers Squibb, Eli Lily and Company, Novo Nordisk Inc., Boehringer Ingelheim and more.

Nine of the top 10 largest Contract Research Organizations (CROs) and 14 of the top 20 world’s largest pharmaceutical companies trust Medable’s platform and have deployed its technology in 300 clinical trials in 60 countries and 100+ local languages, touching the lives of more than one million patients and research participants globally. Medable’s customers have achieved impressive results with decentralized and hybrid trials – including 200 percent faster enrollment and 50 percent cost reductions.

“This recognition is a tremendous honor and validation of Medable’s unwavering commitment to ushering in a new era of drug development – one that merges technology and science to accelerate the development of new medicines,” said Medable CEO and co-founder Dr. Michelle Longmire. “Congratulations to all the nominees. We look forward to continuing to work with industry leaders and partners to accelerate the journey from scientific discovery to real-world impact, and further propel human health.”

The Prix Galien Awards are organized by the Galien Foundation, the premier global institution dedicated to honoring innovators in life sciences. “Each year, the Awards Committee is astounded by the growing number of applicants and the level of passion, creativity and determination from the nominees who are developing their ideas into highly desirable solutions for patients around the world. We applaud their unwavering commitment to improving the human condition and are honored to celebrate their achievements,” said Bernard Poussot, Prix Galien Committee Chair (Categories: Medical Technology, Startups; Digital Health; and Incubators, Accelerators and Equity), Board Member, Roche Holding & Cargill Inc. Former Chairman & CEO, Wyeth.

Clinical research is burdened with antiquated processes that ultimately limit the number of new medicines that are able to reach patients in need. Medable’s software-as-a-service platform improves the speed, data capture, and accessibility of clinical trials across all therapeutic areas, thereby accelerating the development of new medicines. A 2022 financial modeling of decentralized clinical trials (DCTs) using industry benchmark and Medable data conducted by the Tufts Center for the Study of Drug Development shows that, on average, decentralized trials can achieve net financial benefits ranging from five to 13 times for Phase II and Phase III trials, due to reduced trial timelines and other factors.