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Faro Health provides a software platform that helps research teams design and run clinical trials more efficiently. It offers a single, flexible surface where users can manage data, documents, words, and team collaboration, consolidating protocols, spreadsheets, and workflow apps in one place. The platform works by centralizing all components needed for protocol design and trial execution, enabling teams to design, review, and implement trials with less back-and-forth and faster decision-making. Faro Health differentiates itself by offering an integrated, end-to-end environment focused on reducing operational cycle time and improving trial quality through centralized data and workflows, rather than scattering resources across separate tools. The company’s goal is to help research teams design and implement clinical trials more efficiently and effectively, shortening timelines and streamlining processes through a subscription-based software solution.
Industries
Enterprise Software
Healthcare
Company Size
51-200
Company Stage
Series B
Total Funding
$72.3M
Headquarters
San Diego, California
Founded
2019
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Total Funding
$72.3M
Above
Industry Average
Funded Over
3 Rounds
Industry standards
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Round co-led by Merck Global Health Innovation Fund and S32, with participation from all existing investors
Faro Health Inc. appoints Vivian DeWoskin as Chief Strategy Officer.
Vivian joins Faro Health Inc. as the company aims to accelerate the growth and adoption of its market-leading SaaS platform for data-driven clinical development.SAN DIEGO, CA / ACCESSWIRE / June 17, 2024 / Faro Health Inc., the leading SaaS platform for data-driven clinical development, is pleased to announce the appointment of Vivian DeWoskin as Chief Strategy Officer.Vivian joins the Faro Health team as the company looks to significantly accelerate the market footprint for its AI-based platform, which aims to transform the clinical trial protocol development process by enabling data-driven, patient-focused decisions in protocol development. Vivian brings a unique combination of skills and experience gained across roles in consulting, sales, product strategy, and commercial leadership that will be essential in defining and solidifying Faro's leadership position in the market.Vivian's passion for the intersection of AI and healthcare began in her undergraduate education at Princeton University, where she studied cognitive and computational neuroscience and developed a deep appreciation for data and predictive modeling. She spent the early years of her career deeply immersed in all stages of drug development and commercialization at Trinity Life Sciences, gaining first-hand experience in the challenges of bringing new therapeutic innovations to market in an efficient and competitive manner. After pursuing her MBA at Berkeley-Haas, Vivian joined Komodo Health in 2019, where she would eventually serve as VP and Head of Strategy, situated at the intersection of commercial leadership and market strategy, as Komodo scaled their data and analytics software business to hundreds of life sciences customers. Most recently, Vivian returned to her neuroscience roots and deepened her passion for supporting Clinical Development as Chief Commercial Officer of NeuraLight, a digital biomarker company focused on neurodegenerative disease
Digital tool gives real-time feedback on the impact of changes to clinical study protocols, helping clinical teams reduce the cost, duration and burden of studies on sponsors, sites and patients
Digital tool gives real-time feedback on the impact of changes to clinical study protocols, helping clinical teams reduce the cost, duration and burden of studies on sponsors, sites and patients.SAN DIEGO, CA / ACCESSWIRE / May 29, 2024 / A new study, published in the peer-reviewed journal Therapeutic Innovation & Regulatory Science and conducted in collaboration with Merck, shows that when Faro's Study Designer Tool was applied to clinical trial protocol development using a lean design methodology, it was easy to visualize, quantify, and therefore recommend, trial improvements.Specifically, the Faro Study Designer Tool compared a lean design approach, which starts from a "ground zero" schedule of assessments before adding changes, to the traditional, copy-and-paste method, which uses a past, complete schedule of assessments. In doing so the Tool showed that for certain trials, when using a lean design methodology, there would be less burden to study participants, trial sites and staff, a reduction in overall costs, and a shorter trial."The biggest problem in clinical protocol development today is that protocols are designed in Microsoft Word. No real-time feedback is given to clinical teams, making it harder to assess the impact of complex decisions that affect everyone involved, from patients to site staff, caregivers, regulators, and payers," said Scott Chetham, CEO, Faro Health. "This study demonstrates that when immediate, measurable feedback is generated by a patient-centric, digital tool, it can reduce the cost, time and burden of conducting clinical studies. This empowers clinical teams to focus on what matters and make smart, strategic decisions to improve their trial design and the overall experience for patients."The study, "A Method to Redesign and Simplify Schedules of Assessment and Quantify the Impacts," addresses the growing complexity of pharmaceutical-sponsored clinical trials and the adverse impacts on participants, sites and sponsors, including difficulty recruiting and retaining patients and engaging sites to conduct trials, rising costs, and increased trial durations. The study focused on improving the schedule of assessments (SoA), considered the blueprint for trial protocols that is more often generated by copy and pasting from previous SoAs.The lean design approach approach, which starts with a "ground zero" SoA, was used by teams at Merck across six clinical trials
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Industries
Enterprise Software
Healthcare
Company Size
51-200
Company Stage
Series B
Total Funding
$72.3M
Headquarters
San Diego, California
Founded
2019
Find jobs on Simplify and start your career today