Innovative Technology & Service Provider, THREAD, Receives Additional $50M Capital Commitment from Water Street and JLL Partners
On August 13, 2020, PRNewswire announced that THREAD, an innovative technology and service provider that enables decentralized clinical research, is accelerating the company’s expansion after receiving an additional capital commitment of up to $50 million from strategic health care investors, Water Street Healthcare Partners and JLL Partners. This latest capital infusion builds on a year of significant growth and investments in its platform and services to advance decentralized research approaches for large-scale, Phase 1b-IV global clinical trials.
Water Street and JLL Partners initially invested in and acquired THREAD in 2019. Since then, THREAD has leveraged the health care firm’s combined pharmaceutical expertise, network of industry resources and capital to:
expand its global footprint to more than 40 countries;
rapidly develop and implement COVID-19 clinical trial risk mitigation tools to advance critical research during the pandemic;
add new features to its proprietary, configurable decentralized research platform;
enhance its capabilities and provide 24x7 global, multilingual customer support;
and ultimately support customers with virtual visits, hybrid decentralized studies and fully decentralized studies customized to their individual study needs in key therapeutic areas.
"THREAD leads the industry with its knowledge and experience in decentralized trials. This newest investment marks the next phase in our long-term strategic plan," said Mark A. Goldberg, M.D., executive chairman, THREAD. "Working together with Water Street and JLL Partners, we are deeply committed to keeping THREAD at the forefront of providing clients with innovative, high-quality decentralized solutions they can count on to safely bring new therapies to market faster."
You can read the full PRNewswire release here.
