RALEIGH – SignalPath, founded in 2014 to rewire how clinical research was conducted through the development and implementation of a proprietary clinical trial management system (CTMS), will be acquired by Verily, an Alphabet company.
Alphabet is the parent company of Google.
The addition of privately held SignalPath is expected to strengthen Verily’s clinical trial system, the company said. SignalPath has developed what Verily described in a statement as a “robust technology infrastructure [that] offers novel approaches to partners that can dramatically improve the costs, complexities and time associated with clinical trials.”
SignalPath employees will join Verily, becoming part of the clinical research business and maintain their presence in the Triangle, the company stated.
“We’ve created a better research ecosystem – one that combines a network of premier, technology-enabled research sites with a best-in-class suite of clinical trial tools to address the pain points experienced by patients, sites and sponsors,” said Brad Hirsch, MD, cofounder and CEO of SignalPath in a statement. “Combining these capabilities with Verily’s clinical studies platforms business accelerates our ability to scale these solutions and make them available to a larger group of sites as well as provide entirely new opportunities to our network.”
Hirsh co-founded the company, and sat on the company’s Board of Directors. He joined the company as CEO in 2017, after a role as senior medical director at a Google-backed startup that studied the use of clinical data for oncology research, according to his biography published on the SignalPath website.
SignalPath raised an $18 million Series B in 2019, which the company noted at the time was to be invested in new product and technology development and to grow its existing customer base. The company also raised a nearly $3 million seed round in 2016, $5 million in 2017, and an $8 million round in 2018.
Terms of the deal were not disclosed.