Written by Aditya Agrawal, Caroline Xie, Doug Pepper and Murali Joshi | August 10, 2021
Reify Health: Building and delivering the future of clinical trials
When our team at ICONIQ Growth first met Ralph Passarella and Michael Lin, we were immediately struck by their ambitious vision for a very different future of clinical trials – one we believe is radically more accessible, scalable, and efficient. The two met at the Johns Hopkins University School of Medicine and instantly connected on the need to bring transparency to an ecosystem that has historically worked in arcane silos. The duo started Reify Health in 2012 to accelerate clinical trials and bring life-saving therapies to market faster. For Ralph and Michael, this challenge is not just another business problem, but one that is deeply personal. Having seen family members go through clinical trials, Ralph and Michael know firsthand how critical clinical research can be to patients with rare medical conditions seeking hope in the form of experimental treatments. We at ICONIQ Growth are excited to partner with visionaries like Ralph, Michael and their team at Reify Health as they execute on a bold mission.
Most biopharma sponsors and clinical research sites find patient enrollment to be one of the biggest challenges to running a successful trial. In a recent interview, Ralph Passarella said, “sponsors have looked at solutions to make clinical research more accessible to patients and possible for more professionals to participate.” Inefficient patient enrollment creates several far-ranging consequences in the research and development lifecycle, leading to patients with life-threatening and extremely rare conditions being forced to wait for potentially life-saving therapeutics for years. In addition, the need for further diversity within patient populations in clinical trials is more acute than ever, which makes process visibility and control even more important.
We believe Reify Health is paving the way to faster, predictable, and more accessible clinical trials. Through StudyTeam and Care Access, the company provides what we believe is best-in-class clinical optimization software, with a focus on effective enrollment, and transformative clinical trial infrastructure that delivers research directly to more healthcare providers, communities, and patients wherever they are. StudyTeam helps connect biopharma sponsors to clinical sites to accelerate patient enrollment and preparation for trial delivery. By providing these sponsors visibility into patient enrollment happening at the research site, StudyTeam communicates process bottlenecks and enables timely intervention to reduce trial delays and large overhead. Care Access provides a set of comprehensive trial delivery services that also helps create “plug and play” decentralized clinical trials. But what Reify Health does “goes beyond decentralized trials,” said Michael Lin, who explained “we need to have a global healthcare system proactively reaching out to patients everywhere and mobilizing the resources necessary to bring trials to them.” This is especially valuable in communities that may previously have been inaccessible or underrepresented due to limited infrastructure. Instead of requiring patients to travel to specific clinical trial sites, Care Access is bringing the trials to the patients, wherever they may be. Together, StudyTeam and Care Access are in our opinion truly revolutionizing the way clinical trials are conceptualized and conducted: thanks to these businesses, trials can not only be run faster, but also be run anywhere.
Reify Health is working with half of the global top 20 biopharma sponsors in the world (and seven of the top ten), including AstraZeneca, Amgen, and Eli Lilly and Company. The platform drives tremendous impact as evidenced by the nearly 4,000 research sites globally using the product. For example, Care Access partnered with Eli Lilly to safely take a COVID trial to the residents of a nursing home. We’ve been very impressed with Reify Health’s partnerships with the world’s leading sponsors, clinical sites, and community organizations. Our conversations with industry experts have underscored the category-defining impact being driven by this company with its set of products and services aimed at clinical optimization.
Reify Health’s mission to accelerate trial delivery and enable anyone to participate in a clinical study for the benefit of everyone resonates deeply with ICONIQ Growth’s focus on channeling capital, talent and ideas to companies that change our world. Reify Health lies at the intersection of both our healthcare technology and people-first investment theses, a space occupied by healthcare IT companies that we have partnered with in the past. And now, we are thrilled and grateful to partner with the company as part of their Series C financing alongside our friends at Coatue Management, Battery Ventures, Adams Street Partners, Sierra Ventures, and others, and to join Ralph, Michael and the entire Reify Health team as they build and deliver the future of clinical trials.