- Roivant Sciences ( NASDAQ: ROIV ) said it will be part of a $21M investment round being led by Edison Partners in clinical trial intelligence company Lokavant.
- Lokavant will use the funds to scale its commercial teams, and boost feature development for its platform, which provides intelligence for clinical trials from planning to execution.
- Lokavant has developed a platform which enables the real-time integration of all clinical trial data for study planning and operations, the company added.
- Roivant noted that Lokavant was incubated by Roivant Health and piloted with several Roivant biotech "Vants" as customers.
- "This round of financing will support Lokavant's mission to reduce the time and cost of drug development by using data in every aspect of clinical decision-making," said Roivant Health EVP Alex Gasner.
- Under the transaction, Edison's General Partner Gregg Michaelson will join Lokavant's board.
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Roivant to be part of funding round for clinical trial data company Lokavant