MedaSystems Secures Seed Financing to Modernize Global Access to Investigational Medicine

MENLO PARK, Calif.--(BUSINESS WIRE)--MedaSystems, developer of the only purpose-built pharma-physician network to provide patients with access to pre-approval medicine*, today announced the completion of a seed funding round. Participants in the round include a mix of strategic angel and health tech venture investors, with prior track records of founding and funding successful SaaS health companies, including Young Sohn, a founder of Veeva Systems, Vlocity, and Nomadic Systems; nina.capital, a specialist healthtech venture capital fund based in Barcelona; and members of the management team.

The MedaSystems SaaS platform streamlines collaboration between medical affairs, clinical operations, regulatory and shipping teams internally, and physicians and their staff, externally, enabling the rapid processing of treatment inquiries and capture of real-world data.

The platform provides significant benefits to various stakeholders:

• Sponsors (pharmaceutical manufacturers) gain significant processing speed and efficiency. The platform enables the capture of real-world data which speeds drug discovery, expedites regulatory submission and informs the design of more effective clinical trials. Users can create forms to capture de-identified, real-world data. The flexible data architecture and workflow means that sponsors can run a variety of programs on the platform, from Expanded or Managed Access to Post-Trial Access programs and Investigator Initiated Study requests, supporting all aspects of patient treatment outside of Clinical Trials.
• Physician workload is reduced with the ability to rapidly submit applications on behalf of patients who have no other treatment options and cannot participate in clinical trials. The platform provides greater visibility by allowing physicians to work with their staff and pharmacists, to understand where inquiries stand, the ability to request treatment and provide treatment updates.

Fiona Smythe, CEO of MedaSystems, said, “This funding supports our goal of making life saving treatments more easily available to patients and physicians and supporting research and development of new therapies. These funds allow us to support vital real-world data capture, automation, and machine learning capabilities.”

* About Expanded Access: Expanded Access (also known as Managed Access or Compassionate Use) allows patients with a serious or life-threatening condition, who have exhausted the standard of care and are not eligible to participate in clinical trials, to request access to investigational therapies that have not yet gained authorization from local regulatory authorities.

For further information, please visit www.medasystems.com.