World News

Lindus Health, a U.K. clinical trials startup backed by Peter Thiel, raises $18M on August 16, 2023 at 9:00 am

Published

1 year ago

August 16, 2023

Clinical trials are the cornerstone of modern medical research, serving the evidence required to prove (or disprove) the safety and efficacy of a new treatment. However, clinical trials are also costly, resource-intensive endeavors that can take many years to reach a stage where a drug or device is deemed ready for a wide-scale rollout.

This is something that Lindus Health is setting out to address, touting itself as a “next-gen contract research organization” (CRO) that makes it faster and easier to run clinical trials. The U.K. startup today announced it has raised $18 million in a Series A round of funding from big-name backers including Spotify investor Creandum, and billionaire entrepreneur Peter Thiel.

Founded out of London in 2021, Lindus was born from observations and frustrations encountered directly by two of the company’s founders. A former venture capitalist at Omers Ventures, Meri Beckwith had direct knowledge of clinical trials through his work with healthtech startups.

“I worked for a bit in venture capital, and I came across companies running their own clinical trials,” Beckwith explained to TechCrunch. “Everyone was universally frustrated with the outcomes. Everyone just constantly complained about how long clinical trials took, how the outcomes were always bad, and there were always mistakes. So as an investor, I thought this is a really interesting area for investment.”

As the global pandemic took hold in 2020, Beckwith also volunteered to participate in several COVID vaccine studies, giving him first-hand insights into the clinical trial process.

“I was just completely shocked to see how unbelievably dysfunctional that was,” Beckwith added. “And this was one of the really big, well-funded phase-three trials. I remember having to download Internet Explorer to even sign up for the clinical trial. The website the CRO had built was on WordPress, and it didn’t have an SSL certificate. And on the clinical trial side, they were just tons of ridiculous errors. So that was a real eye-opener.”

Michael Young, one of Lindus’s two other founders, formerly served as special adviser at Downing Street, assisting the Prime Minister and U.K. Government on myriad issues across the life sciences sphere. While he was involved in a lot of work around health and biotech, Young said that much of the thinking was focused on drug approvals and NHS rollout, rather than “that bit in the middle” — that is, how the clinical trials are actually conducted.

“We just weren’t thinking about that at all,” Young told TechCrunch. “And so it was that experience that made me start digging into what is actually happening with clinical trials. We came to the conclusion that THAT is the bottleneck that’s stopping all the really cool R&D stuff that’s happening from getting to patients.”

Clinical signs

There are numerous upstarts out there seeking to make their mark in the tech-infused clinical trial space, including venture-backed companies such as Science 37, Koneksa, Curebase, and Florence Healthcare to name a few. But Lindus Health says it’s main selling point is that it’s setting out to cover the entire end-to-end process involved in running clinical trials, rather than specific “point” solutions.

“The companies we compete with are the big CROs,” Young said. “This is a massive market, and tech-first CROs have not yet got a foothold.”

For context, a contract research organization (CRO) is a third-party entity that pharmaceutical, biotech, and medical device organizations outsource some of their mission critical work to, such as clinical research. This saves them from having to do all the work themselves internally, allowing them to focus purely on their core product development. The CRO market is significant, pegged as a $77 billion market today with projections that it will grow by 70% within five years. Notable players include IQVIA, which has emerged as a $40 billion juggernaut in the CRO space, doubling its market cap in the past few years.

A typical clinical trial constitutes the initial trial design, including creating a protocol and regulatory submission package; setting up the technology platform to operate the trials; recruiting patients; delivering the program; and collating all the data. Each stage can take years, depending on the size and scope of a clinical trial, which is why Lindus is looking to streamline everything — with the exception of the ethics and regulatory process, which sits under third-party control — and improve on the existing clinical trial software on the market.

“It’s a cliche that sites (where clinical studies take place) hate the software on the market,” Young said. “We’ve invested thousands of hours speaking to site users to ensure our tool is intuitive and automates the basic tasks that they do. This results in more engaged sites and therefore faster recruitment and better data.”

Lindus Health: Recruitment Image Credits: Lindus Health

Part of this streamlining process leans on machine learning (ML), including for the initial protocol writing phase which is typically a very “manual iterative process,” according to Young.

“The result is that, despite the best intentions, there can be contradictions or even seemingly sensible additions which hamstring a trial,” he said. “For example, adding so many exclusion criteria that a trial is almost impossible to recruit for.”

Thus, Lindus has built a “protocol generation” tool, currently at the proof-of-concept stage, trained on its own historical protocols, in addition to protocols gleaned from clinicaltrials.gov, to generate a “first draft protocol based on a small number of inputs,” according to Young. “We can then run this through a separate model that we trained on public data from ScanMedicine that highlights trial risks, and makes suggestions on how to improve the trial.”

Lindus Health AI protocol tool Image Credits: Lindus Health

Data capture is a major part of the clinical trial process, something that Lindus supports by allowing trial staff to capture all its data electronically from the get-go, applying AI to monitor and manage the process, while checking for data completeness and accuracy. For this, Young said the company has trained a series of models to analyze data in real-time as its ingested.

Lindus makes all this data available in a centralized dashboard.

“Clinical trials are in essence just a data collection exercise,” Young said. “A standard clinical trial will generate hundreds of thousands to millions of data points. The company running a clinical trial is responsible for ensuring that this data is accurate and that any data that might indicate a risk to patient safety is identified.”

Lindus Health study data dashboard Image Credits: Lindus Health

Human condition

Lindus had hitherto raised around $6 million in funding from some of the very same investors that have joined its Series A round, including Creandum and Peter Thiel. Now, with another $18 million in the bank, the company is well-resourced to ramp up its presence across Europe and North America, where it says it has already delivered more than 80 clinical trials since its inception two years ago.

So far, Lindus has focused on a handful of conditions including depression, diabetes and insomnia. According to Beckwith, there are various factors that dictate which conditions it chooses to support, but it’s mostly about staying focused and not trying to do everything at once.

“On the practical side, our Northstar — and what differentiates us from a lot of companies in this space — is that we’ve always believed strongly that to have an impact and to make a difference, we need to run the entire clinical trial and displace CROs,” Beckwith said. “Then as a startup, we thought, ‘what are the simplest clinical trials we can run, where we can still be in charge of the whole clinical trial?’”

Thus, Lindus has purposely sought to support more common conditions. And while initially it focused on non-drug products which inherently have fewer hurdles to run clinical trials, it has since expanded into drug products and it’s now also looking to extend support to other conditions such as tinnitus, insomnia, menopause, and childhood myopia.

Beckwith added that the pharmaceutical industry has focused its R&D on more niche conditions and rare diseases in recent years, which has meant more common conditions such as type 2 diabetes have been neglected.

“Potentially, the reason that’s happened is because of the clinical trial infrastructure, because putting any patient through clinical trials has such a high cost,” Beckwith said. “Sso economically it’s only made sense for them to run those clinical trials where you can get an approval with few patients, and where that approval leads to a huge dollar-value for one course of treatment. So we think that our strongest competitive advantage is that we’ve just made clinical trials, on the whole, much more scalable.”

Regulation time

Lindus has secured a swathe of backers from different areas of the VC spectrum, including the aforementioned Creandum, Firstminute Capital, Seedcamp, Hambro Perks and Amino Collective. But Peter Thiel is arguably the most notable participant here, given his track record in the healthtech space.

“We got connected to Peter via one of our angel investors, and when we initially spoke, he just went extremely deep on understanding the market for first principles,” Beckwith said. “For example, why the market looks the way it does with the current CROs having a terrible offering, and they have an oligopoly. And Peter’s due diligence, or ‘process’ if you like, was very different from virtually every other investor we spoke to, which is quite refreshing. Essentially, all the questions were framed around, ‘how big could Lindus Health be if we do well.’”

The fact that Thiel, alongside most of Lindus Health’s seed investors, has doubled down on his investment is indicative of how he views the clinical trial status quo. Indeed, as with just about every self-proclaimed libertarian, Thiel has never been one to welcome regulation with open arms. But he’s also a huge proponent of medical advancement, investing in countless biotech companies as part of a longer term plan to, well, live forever. As such, Thiel has been vocal about the hurdles involved in getting new medicines to market. This includes lambasting the U.S. Food and Drug Administration (FDA) over how it hinders experimental drugs from getting to market, while he also sparked a furore when he invested in a company that had previously taken its clinical trials offshore and avoided FDA oversight.

However, rules and oversight are usually in place for good reason, especially when it involves drug trials. So any company that comes along proclaiming to up-end an industry renowned for its regulatory oversight might be viewed with a little suspicion. But Young is adamant that they are focused purely on solving technical and process problems, rather than trying to push for change to regulations, something he said would be “a losing battle” as a startup. In truth, lobbying of that sort is something the big pharmaceutical companies themselves are more likely to pursue.

“Clinical trial regulations do evolve, but nothing that we’re doing is in a grey area,” he said. “We definitely think that the regulatory bodies could do more to encourage sponsors to be innovative — but within an existing regulatory framework.”

Business

The Cities Bracing for Trump’s Immigration Crackdown

Published

2 weeks ago

November 8, 2024

Bolanle Media Staff

In the wake of Donald Trump’s recent election victory and his promise of “the largest deportation operation in American history,” several major U.S. cities are bracing for potentially seismic shifts in their economic and social landscapes. As the nation grapples with the implications of this proposed policy, urban centers that have long been havens for immigrant communities find themselves at the epicenter of a looming storm.

Los Angeles, often dubbed the “City of Angels,” stands to lose more than its celestial nickname suggests. As a primary gateway for immigrants, the city’s vibrant tapestry of cultures and its economic engine could face significant disruption. From the bustling streets of Koreatown to the sun-drenched orchards of the Central Valley, the absence of undocumented workers could leave gaping holes in the city’s workforce and cultural identity.

Across the country, New York City, with its iconic skyline and melting pot reputation, faces its own reckoning. The Big Apple’s 5.9 million immigrants, many of whom are undocumented, form the backbone of industries ranging from construction to healthcare. The potential exodus could transform neighborhoods like Jackson Heights and Flushing, altering the very essence of what makes New York a global city.In the Sunshine State, Miami’s tropical allure belies the turbulent times ahead. Home to 2.5 million immigrants, the city’s economy relies heavily on sectors like tourism and hospitality – industries where undocumented workers often fill crucial roles. The potential deportation of these workers could send shockwaves through Miami’s economic ecosystem, from South Beach’s glitzy hotels to the agricultural heartlands of South Florida.

Chicago, the “City of Big Shoulders,” may find those shoulders significantly weakened. With 1.7 million immigrants in its metropolitan area, the Windy City’s diverse neighborhoods and industries face an uncertain future. From the meatpacking plants to the tech startups, Chicago’s economic resilience could be tested like never before.

In the Lone Star State, Houston and Dallas stand as twin testaments to the complexities of immigration policy. These Texas titans, each home to large immigrant populations, could see their booming economies stumble. The construction sites that dot their ever-expanding skylines and the service industries that keep these cities humming could face unprecedented labor shortages.

Out West, the San Francisco Bay Area’s reputation as a bastion of innovation and progress could be challenged. The region’s tech industry, often reliant on immigrant talent, might find itself grappling with a new reality. From Silicon Valley’s coding campuses to the agricultural expanses of the Central Valley, California’s economic powerhouse could face a reckoning. Phoenix, rising from the Sonoran Desert, could see its growth trajectory altered. As Arizona’s urban center, it stands at the forefront of the immigration debate, potentially facing not just economic impacts but social and political upheaval as well.

These cities, along with others like San Diego and Las Vegas, are not just facing potential economic disruptions. They are staring down the barrel of profound social change. Family separations, community fragmentation, and the erosion of cultural enclaves built over generations are all possible consequences of mass deportations. Moreover, the fiscal implications are staggering. Undocumented immigrants contribute billions in taxes annually, often without receiving the full benefits of their contributions. Their sudden absence could leave gaping holes in city budgets, potentially affecting public services and infrastructure projects.

As these urban centers brace for impact, the debate rages on. Supporters of stricter immigration policies argue for the need to enforce laws and protect American jobs. Critics warn of economic devastation and the unraveling of America’s urban fabric. What’s clear is that America’s cities stand at a crossroads. The coming months and years will likely reshape urban landscapes in ways both visible and invisible. From the foods we eat to the services we rely on, from the neighborhoods we call home to the very character of our cities, the impacts of this proposed immigration crackdown could be far-reaching and long-lasting. As the nation watches and waits, these cities – vibrant, diverse, and economically vital – find themselves on the front lines of a policy that could redefine what it means to be an American city in the 21st century.

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Business

How Trump’s Deportation Plans Could Reshape Major Cities

Published

2 weeks ago

November 8, 2024

Bolanle Media Staff

In the wake of Donald Trump’s recent election victory, his ambitious plans for mass deportations have thrust America’s urban centers into the spotlight. As the nation grapples with the potential implications of what Trump calls “the largest deportation operation in American history,” cities across the country are bracing for significant changes that could reshape their economic, social, and cultural landscapes.

The stakes are particularly high for metropolitan areas like New York, Los Angeles, Houston, Dallas, and Miami, which host the largest populations of unauthorized immigrants. These cities, along with other major urban hubs such as Chicago, Washington D.C., and San Francisco, stand at the forefront of a looming transformation that could reverberate throughout the nation.

Economic Tremors

Economists warn that the proposed deportations could send shockwaves through urban economies. Mark Zandi, chief economist at Moody’s, cautions that businesses would face “significant challenges” if a substantial number of immigrants were removed. Industries such as construction, hospitality, and healthcare—pillars of urban economies—could face severe labor shortages.

Joe Brusuelas, chief economist at RSM, emphasizes the potential ripple effects: “The native-born workforce cannot meet current labor demands.” This labor gap could lead to increased wages, potentially rekindling inflation—a concern that looms large over city planners and policymakers alike.

Community Fabric Under Strain

Beyond economic considerations, the social fabric of cities hangs in the balance. Elena, a Nicaraguan immigrant in Houston, voices a fear echoed in immigrant communities across the nation: “I’m scared… This is my home.” The threat of family separations, particularly in mixed-status households, casts a long shadow over urban neighborhoods.

Immigrant advocacy groups like FIEL are mobilizing, advising clients to prepare for “anything that can happen.” This atmosphere of uncertainty could lead to decreased community engagement and cooperation with local authorities, potentially impacting public safety and community cohesion.

Cities at a Crossroads

As the debate intensifies, cities find themselves at a crossroads. Some, like New York and Los Angeles, have historically positioned themselves as “sanctuary cities,” often at odds with federal immigration enforcement. The impending clash between federal policy and local governance promises to be a defining feature of this new political landscape.

Meanwhile, the logistical challenges of implementing such a massive deportation operation remain daunting. Questions abound regarding detention facilities, transportation networks, and the sheer manpower required to carry out Trump’s vision.

Looking Ahead

As America’s urban centers brace for potential change, the full impact of Trump’s deportation plans remains to be seen. Legal challenges are all but certain, and the resilience of America’s cities will be put to the test.

What is clear is that the coming months and years will be pivotal for urban America. As Jason Miller, a senior Trump adviser, puts it, the plan is to “immediately reinstate” immigration policies from Trump’s first term. For America’s cities, this could mean a period of unprecedented change, challenge, and, potentially, transformation.

As the nation watches and waits, the story of America’s cities in the face of this ambitious deportation plan is just beginning to unfold. The outcome will undoubtedly shape the future of urban life in America for years to come.

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Business

Donald Trump Wins 2024 USA Election

Published

3 weeks ago

November 6, 2024

Bolanle Media Staff

Based on the election results, Donald Trump has indeed won the 2024 U.S. presidential election, defeating Vice President Kamala Harris. Here’s an analysis of the key statistics and implications:

Electoral College Victory

Donald Trump has secured the presidency by winning crucial battleground states and flipping some key states that were previously held by Democrats. The final Electoral College tally is still being determined, but Trump has surpassed the 270 electoral votes needed to win.

Battleground State Performance

Trump’s victory was largely secured by winning several critical swing states:

Wisconsin: Trump’s win here was pivotal in securing his path to victory.
Pennsylvania: This state flipped back to Republican control.
Georgia: Another key state that Trump managed to win back.
Michigan: Trump successfully flipped this traditionally Democratic stronghold.

Popular Vote and Voter Priorities

While the final popular vote tally is still being calculated, exit polls provide insight into voter priorities:

Economy and democracy were top concerns for voters.
Abortion and immigration also played significant roles in voter decision-making.

Congressional Control

The election results extend beyond the presidency:

Republicans are set to take back the Senate majority, securing at least 51 seats.
Control of the House of Representatives remains undetermined.

Media Implications

The outcome of this election could be seen as a challenge to mainstream media narratives for several reasons:

Polling Discrepancies: Many pre-election polls suggested a tight race or even a slight Harris advantage in key states. Trump’s victory, particularly in battleground states, may indicate that polls underestimated his support.
Narrative Shifts: Throughout the campaign, much of the mainstream media focused on Trump’s legal challenges and controversies. His victory suggests that these issues may not have resonated with voters as much as economic and policy concerns.
Voter Priorities: The emphasis on issues like the economy and immigration in voter decision-making may indicate a disconnect between media focus and voter concerns.
Electoral Predictions: Many mainstream outlets were cautious about predicting a Trump victory, even as results began to favor him. This hesitancy could be seen as a reflection of broader media skepticism about Trump’s chances.
Underestimation of Trump’s Base: The results suggest that Trump’s core support remained strong and potentially grew, despite negative coverage in much of the mainstream media.

It’s important to note that while the election outcome may challenge some media narratives, it doesn’t necessarily invalidate all mainstream reporting. The complex factors influencing voter behavior and the challenges of accurate political forecasting remain subjects of ongoing analysis and debate.

As the dust settles on this historic election, both the media and political analysts will likely engage in extensive reflection on the factors that led to Trump’s victory and the implications for future political coverage and analysis.