French medtech startup Kayentis, provider of digital data capture systems for clinical trials, has raised €7 million in growth capital. Previous backers Extens and LBO France led the round, and Bpifrance joined as a new investor.
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 the patients. Ultimately, for pharma and biotech companies, this improves retention rates, increases the quality of study data and fulfils regulatory requirements.
CEO Guillaume Juge says the company’s product roadmap is geared to “support the trend towards virtual, decentralized and remote trials.” Next up are plans to improve the patient experience and to grow the Boston-based US team, later expanding across North America.