Kayentis, a French technology company creating data collection and patient engagement tools for clinical trials, has raised $3.9 million (3.6 million euros) in a funding round led by Innovation Capital. Existing investors Extens, Lenapart, and KCE also contributed to the round.
The seven-year-old company specializes in electronic clinical outcome assessments (eCOA solutions). That includes patient reported outcomes, clinician reported outcomes, observer reported outcomes, automatic remote testing, and patient diaries. They use a combination of web portals and mobile tools.
"This round of financing validates our development model and our significant growth prospects,” Guillaume Juge, CEO of Kayentis, said in a statement. “It also provides Kayentis with the means to continue improving our technological platform and value-added services to better serve our clients worldwide. I am particularly pleased to welcome Innovation Capital as a new investor or and business partner to accompany us in this new and exciting growth phase for Kayentis. I also thank the existing investors for their continuous support.”
Kayentis has been used in more than 120 trials in 75 countries, according to the company, impacting some 50,000 patients. The funds will go to accelerating international growth and growing its sales, marketing, and R&D teams.
"We are delighted to partner with Kayentis and its experienced management team,” Franck Noiret, General Partner of Innovation Capital, said in a statement. “This is the seventh investment of our SISA fund dedicated to the financing of innovative digital health companies in Europe. Kayentis has had an impressive track record in the last few years and we are confident it will continue to grow fast. We strongly believe that Kayentis has what it takes to become a leading global provider of eCOA solutions in the next few years.”
Kayentis places a special focus on patient engagement, according to the company’s website.
“Kayentis considers patient engagement to be crucial and determinant of clinical trial success,” the company writes. “Patient engagement is key to increasing both the quantity and quality of clinical trials data while ensuring compliance regarding taking the clinical trial drug(s), filling diaries, and remaining actively involved in the trial. These benefits generate overall savings in budget while at the same time increasing a trial’s power.”