Needham, Mass.-based ClinOne, which provides comprehensive support for clinical trials, has closed on a $3 million Series A funding round, led by Boulder Ventures. Existing investors CU Healthcare Innovation Fund and First Trust Capital Partners also participated. ClinOne has raised $8.5 million from investors since 2017.
ClinOne also named industry veteran Robert Conway as its board’s executive chair. Conway is currently chairman of Arca Biopharma and serves on the boards of Signant Health and Alpine Immune Sciences. From 1999 to 2012, Conway led Array BioPharma, Inc., which was later acquired by Pfizer.
Integrated Platform
“We are thrilled to partner with Boulder Ventures to expand ClinOne’s reach in offering high-quality, rapidly deployed solutions for clinical trials,” said ClinOne CEO Andrea Valente, a former Oracle executive who once led the Tony Blair Institute for Global Change in Africa. “Bob and I worked together at ERT, and it will be rewarding to work with him again and leverage his experience.” Valente joined ClinOne from Medable, where she served as chief operating officer.
ClinOne has built an integrated platform that offers comprehensive support for clinical trials, and data insights tools and interoperability. It includes support at sites of the trials, and support to participants and caregivers throughout the clinical trial journey.
“The most significant opportunity to improve the clinical trial process is the ‘last mile’ serving sites and patients,” said Conway. “ClinOne has built a platform which offers ease of use along with comprehensiveness and efficiency for all stakeholders to meet. Andrea has assembled a team with deep experience to realize these goals.”
Immigrant Co-founder
ClinOne was founded by Eric Schraufnagel and Rob Bohacs. Schraufnagel has over a decade’s experience in clinical research, and architected a global research platform for an Oncology CRO and a biomarker profile registry to help match patients with clinical trials.
Bohacs, who was named to 2021’s PharmaVOICE 100 most inspiring people in the global life sciences industry, serves as chief solutions officer. An immigrant to the United States, he spent part of his childhood in a refugee camp as his family fled Hungary during the Soviet occupation. Bohacs co-founded ClinOne after recognizing the challenges of clinical research when his father was diagnosed with ALS.
Founded in 1995, Boulder Ventures backs startups in Colorado and the Mid-Atlantic region. ClinOne plays an important role in bettering clinical trials experiences for patients, said founder and general partner Kyle Lefkoff, who termed participation in a clinical trial an act of “conspicuous bravery.”
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Boulder Ventures has raised $429.1 million via eight funds, with the most recent one worth $58 million coming last December. It has made nearly 100 portfolio investments. It exited 31. Its recent investments include PlayMetrics, Zhongyin Microelectronics, Mineralys Therapeutics and PeopleReign.
CU Healthcare’s recent investments include CodaMetrix, Sensorium Therapeutics, Carta Healthcare and Eon Health.
First Trust’s recent portfolio investments include Sonara Health, Upfront Healthcare Services, Sift Healthcare. Last July, it acquired Veriti for an undisclosed amount
