French medtech startup Kayentis, a provider of digital data capture systems for clinical trials, has raised €5 million in growth capital. Previous backers Extens, LBO France, and the ubiquitous Bpifrance.
Kayentis’ product is an example of electronic Clinical Outcome Assessment (eCOA), a method of capturing outcomes data electronically in clinical trials. The global eCOA market is expected to reach $2.6 billion by 2027.
The digital platform lessens some of the logistical and physical burdens that clinical trials can have on both investigative sites and patients. Ultimately, for pharma and biotech companies, this improves retention rates, increases the quality of study data, and fulfills regulatory requirements.
“We thank our investors for sharing in our vision to further extend our clinical trial services to US clients, as we increase the global penetration of our technologically advanced digital solutions,” said Guillaume Juge, CEO at Kayentis. “While we already have a significant footprint in the US, this additional financing will help accelerate our digital data collection activities there and bring us ever closer to our customers.”