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The Series B valued the startup at $250 million;; according to a person with knowledge of the deal. Castor aims to use the data it's collecting now to create simulated trial subjects by 2035. See more stories on Insider's business page.", "slideCount": 8, "companyName": "See", "description": "The clinical-trial startup Castor just raised $45 million from investors including F-Prime Capital. The Series B valued the startup at $250 million;; according to a person with knowledge of the deal. Castor aims to use the data it's collecting now to create simulated trial subjects by 2035. See more stories on Insider's business page. Derk Arts was originally planning to become an anesthesiologist. But when he started training at the Medisch Centrum Alkmaar hospital in the Netherlands and found that his department still used Excel spreadsheets to compile data;; everything changed. Arts created a software program and launched his startup;; Castor;; in 2012. The Hoboken;; New Jersey-based company operated quietly before raising its first seed funding in 2018. The company raised a $45 million Series B round earlier this month from F-Prime Capital;; Eight Roads Ventures;; Two Sigma Ventures;; and Inkef Capital. The round valued Castor at about $250 million;; according to a person with knowledge of the deal. Arts declined to disclose Castor's 2020 revenue or 2021 projections. The COVID-19 pandemic has shifted focus onto how clinical trials are run;; simply because the coronavirus forced many in-person trial sites to shut down temporarily. But even before the pandemic;; 35% of trials shut down due to underenrollment;; according to Castor. Arts' aspiration is to transform Castor from a company that helps track and manage trial participants' data to a firm that can digitize the entire process — even the patients. He thinks that by 2035;; Castor's computer systems could simulate trial subjects. It was part of his pitch to investors. Like Google;; 23andMe;; and Novartis;; Castor knows there's hordes of potential in the data it's collecting. \"For investors;; direct paper replacement doesn't resonate;;\" Arts said. \"We have a vision that extends way beyond the current paradigm of clinical trials.\" Drug companies have used data to create virtual trial participants. But in most cases;; it's used to replace the placebo patients — the people who don't get a drug — when testing treatments for rare diseases. Castor plans to use its Series B funds to work on its technology and hire. The company has more than 100 employees. Arts said Castor plans to have between 250 and 300 employees by the end of 2022. Note: This article has been updated to remove the names of Castor's confidential clients. 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