ScienceMedia, the leader in life sciences and clinical trial education, has agreed to terms on a major revenue-based financing investment with Decathlon Capital to support the continued growth of SMi Trial, the company’s clinical trial risk based protocol training platform.
The investment’s exact amount remains undisclosed, but the substantial deal will fund the expansion of key platform features and support capabilities to further help pharmaceutical and biotechnology companies complete trials months ahead of schedule while significantly reducing their operating costs.
ScienceMedia has a 25-year track record of medical and clinical training innovation, and is challenging outdated methods, such as PowerPoint that result in inconsistent, ineffective training. The company applies adult learning best practices to raise the clinical competency of medical, clinical, and commercial professionals.
SMi Trial is a new approach to clinical trial protocol training. By working directly with Sponsors and CROs on the highest risk areas of the protocol and delivering training in advanced multimedia format, ScienceMedia enables study teams to obtain quality data with fewer patients and shorter timelines that help recoup millions of dollars in lost revenue.
The company also developed SMi Source, a mobile-enabled, cloud-based disease and therapeutic area education library that provides more than 16,000 microlearning topics and over 400 full courses to medical affairs and clinical professionals around the world.
“The imperative for swift, accurate and efficient clinical trials and advanced, cloud-based clinical training is more apparent than ever in the era of COVID-19,” said Mark Surles, CEO of ScienceMedia. “ScienceMedia brings these innovations to clinical operations and development teams, playing a key role in bringing new therapies and pharmaceuticals to market more quickly and cost effectively while safeguarding patients through improved clinical training and education.”
Decathlon Capital’s support of ScienceMedia comes at a time when the Palo Alto revenue-based financing firm is deploying significant capital across a wide range of industries, supporting growth-stage companies that can leverage a revenue-based finance deal to accelerate growth or solidify leadership positions in important markets.
The investment in ScienceMedia will be re-paid through future revenues, allowing the company to scale without sacrificing equity or ownership.
“ScienceMedia’s strong brand and leadership position within the growing technology-enabled medical and clinical training market made this investment an easy decision for Decathlon Capital Partners,” said John Borchers, managing partner of Decathlon Capital Partners. “We are excited to see ScienceMedia continue to lead the industry forward in an era where remote work, cloud-based learning and evolving clinical training methods are making ScienceMedia’s mission more important than ever.”
