Water Street Healthcare Partners and JLL Partners have acquired THREAD, a provider of technology that enables virtual research approaches to modernize clinical studies and registries. Headquartered in Orange County, Calif., THREAD will leverage the investment to accelerate the expansion of its global offering.
THREAD's platform and services are designed to make clinical trials and registries more accessible and less costly by replacing patient visits at investigator sites with technology-enabled interactions at more convenient locations, including patients' homes. Growing numbers of biopharma, life science companies, contract research organizations (CROs), and non-profit researchers are engaging THREAD's virtual research platform to capture clinical study data in between, as well as during or instead of clinic visits. The company's platform supports an integrated suite of user-friendly, highly configurable applications that support eConsent, ePRO/eCOA, patient engagement, telehealth virtual visits, site data capture, and medical device and consumer sensor connection.
"JLL and Water Street are the ideal partners for THREAD to accelerate our strategic expansion and solutions to our customers. Their life science expertise and resources will enable us to grow in a thoughtful way that will benefit all of our customers," said Jeff Frazier, founder and chief executive officer, THREAD.
"We're excited to expand THREAD's platform to modernize clinical research for our customers, participants, and sites. This partnership will further our commitment to make virtual research approaches the standard in studies and registries," John Reites, partner and chief product officer, THREAD, said.
Water Street and JLL will invest their combined industry experience and network of resources to further develop and expand THREAD's offering on a global scale. With this support, THREAD will extend its platform to offer customers a broader range of options that can be configured to address their individual needs by engaging components of its technology as standalone point solutions or activating its full suite of capabilities.
THREAD's leadership team will continue to manage the company's day-to-day operations and report to Dr. Goldberg. Financial terms of Water Street and JLL's investment are not being disclosed.