MedaSystems Raises $1.5 Million to Build Out Expanded Access Software to Help Patients Gain Access to Investigational Therapies
MedaSystems, a digital health software company, is excited to announce the completion of a $1.5 million pre-seed funding round led by specialist healthtech venture capital fund nina capital in conjunction with a group of strategic angel investors.
Expanded Access 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.
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MedaSystems has developed a networked platform where pharmaceutical manufacturers and healthcare providers can collaborate on Expanded Access (also known as Managed Access or Compassionate Use) requests. Expanded Accesses played an essential role in developing novel treatments during the Covid-19 pandemic and historically has been a vital pathway for patients with conditions such as cancer, ALS, Alzheimer’s disease, and thousands of rare diseases.
The MedaSystems platform enables pharmaceutical companies to respond to Expanded Access requests faster and more efficiently, design more effective clinical trials, enhance pre-approval regulatory submissions and capture real-world data.
Fiona Smythe, CEO of MedaSystems, said, ‘We’re thrilled to have our new partners on board for this exciting journey, supporting our goal of creating software to make life saving treatments more broadly and easily available and supporting research and development of new therapies.’ The funds will enable MedaSystems to expand its product and engineering teams and speed the build out of its physician portal and real-world data gathering capabilities.
Marta-Gaia Zanchi, nina capital’s Managing Partner, said, ‘We see a huge opportunity in the growth of Expanded Access worldwide. Ultimately, MedaSystems enters a white space for Expanded Access Management solutions with a vision for an entirely new way to generate Real-World Evidence.’ Ms. Zanchi will serve in an advisory capacity to MedaSystems.
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