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As more specialty drugs hit the market, a startup just raised fresh funding to help biopharma companies better manage the data of patients who rely on their medicines.
Courier Health nabbed $16.5 million in a Series A round led by Norwest Venture Partners with participation from existing investor Work-Bench, it exclusively told Endpoints News. The company, based in New York City, has raised $20.5 million to date.
Patients prescribed complex specialty drugs must go through many steps before getting their hands on them, from checking if their insurance covers the drug, to running genetic testing, to working with a nurse to learn how to inject it.
As biopharma companies build out patient services teams to better manage a patient’s experience, Courier’s customer relationship management platform brings together patient and physician data into one place. This makes it easier for biopharma teams to understand where their patients are in their journey and how to support them, founder and CEO Danny Sigurdson told Endpoints. Courier plans use the funds to draw in more clients and automate more processes in its workflow, he said.
There’s a great opportunity for Courier to build on the advantage it has in providing a more patient-focused customer relationship management software, especially as biopharma moves towards more specialized therapies, rather than provider-centric technology that software giants and others have built in the past, Norwest principal Irem Rami said.
“This is the right time to go after this space, as many of the large incumbents are distracted and much more focused on the sales and marketing provider-focused channels,” she said.