Medical trial workflow platform OneStudyTeam, a Reify Well being firm, has laid off 160 staff, or roughly 25% of its workforce.
“We will affirm that we made the very tough determination to let a few of our staff members go. Each individual performed a job in constructing OneStudyTeam, and we’re grateful for his or her contribution to our mission of accelerating the event of lifesaving therapies for sufferers. We concluded that we have to restructure our staff going into 2023 to streamline operations after a interval of extraordinarily speedy progress and hiring,” an organization spokesperson advised MobiHealthNews in an e-mail.
THE LARGER TREND
In November, OneStudyTeam introduced a partnership with New York-based Antidote Applied sciences to supply one platform for scientific trial sponsors, websites and individuals. The platform would make the most of OneStudyTeam’s cloud-based software program often known as StudyTeam, in addition to Antidote’s patient-engagement platform.
In April, OneStudyTeam’s guardian firm Reify garnered $220 million in Collection D funding, boosting the corporate’s valuation to $4.8 billion.
That spherical got here lower than a yr after the corporate raised $220 million in Collection C funding. The corporate additionally introduced in $30 million in Collection B financing in 2020.