Previous merger earns clinical research company $235 million as it looks to advance patient enrollment
Science 37, Inc., a clinical research company that specializes in decentralized clinical trials, has officially completed its previously announced merger with LifeSci Acquisition II Corp., a blank check firm aimed towards the biopharma, medical technology, digital health and healthcare services sectors. Shares of common stock of the combined company, which will go by Science 37 Holdings, Inc., will start trading on the Nasdaq under the new ticker symbol “SNCE” effective immediately.
Per the deal, Science 37 received approximately $235 million total cash. With the proceeds, the clinical research business plans to fund its decentralized trial technology platform, while also pursuing other relevant endeavors. David Coman, Science 37, Inc.’s CEO who will continued to lead the combined company, notes that the firm’s operating system has demonstrated the ability to speed up patient enrollment, provide higher patient retention, reduce patient burden and include participation from underserved patient populations.
“ … This is all made possible through our full-stack, end-to-end technology platform and supported by specialized patient communities, telemedicine investigators, mobile nurses, and remote coordinators, says Coman. “The additional capital from this transaction will help us deliver on our vision to be the category-defining operating system that powers every clinical trial as the industry shifts to more agile trial designs.”