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It says it's conducted over 125 decentralized trials in over 60 countries. See the presentation the company used while raising $304 million from Blackstone and Tiger Global.", "slideCount": 18, "companyName": "Medable", "description": "Medable wants to change the way clinical trials are done by letting people participate from home. It says it's conducted over 125 decentralized trials in over 60 countries. See the presentation the company used while raising $304 million from Blackstone and Tiger Global. Medable is a healthcare startup that wants to change how clinical trials are run. People who want to sign up for clinical drug trials usually have to travel to specific clinics or labs and live in the same area;; said Dr. Michelle Longmire;; Medable's cofounder. \"Clinical drug development is broken. It's not being done in the right way;;\" Longmire said;; adding that these trials are \"extremely costly;;\" take an \"extremely long time;;\" and lack racial and gender diversity. Medable says it helps run decentralized clinical trials by using software that allows doctors to follow up and check on patients virtually rather than having them come to central locations like labs or hospitals. By bringing the drug-trial process online;; Medable hopes to reduce the high cost of bringing new drugs to market while improving the quality of trials. The startup recently partnered with Tufts University's Center for the Study of Drug Development to research the cost-effectiveness of these kinds of trials;; many of which took place during the COVID-19 pandemic. The report found that the net financial benefits of virtual phase-two and phase-three trials;; like shorter trial periods;; were up to 14 times the cost of investing in the software. Medable's cost-saving data also caught the attention of the investment heavyweights Blackstone and Tiger Global;; which co-led the startup's $304 million Series D round in October along with GSR Ventures;; an existing investor. That was Medable's fourth round of funding in 18 months. Medable has raised $521 million including this latest round;; which valued the company at $2.1 billion. Longmire told Insider it was exciting to see how far Medable had come since the days of doing \"pitch-contest all-nighters\" with Stanford students. Check out the 18-slide pitch deck Medable used to raise $304 million. 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