PHARMASEAL’s £1million crowdfunding campaign aimed at increasing  clinical trial turnaround times gains momentum

PHARMASEAL’s £1million crowdfunding campaign aimed at increasing clinical trial turnaround times gains momentum

September 24, 2020

A £1 million crowdfunding campaign launched by PHARMASEAL to revolutionise global clinical trials and vaccine development has reached the next campaign milestone.

Launched by the new provider of clinical trial management and governance solutions last month, the campaign is aimed at raising capital in order to continue its journey using next-generation technology to improve the efficiency of clinical trials on a worldwide scale.

This next phase of the campaign - the public phase - comes on the back of PHARMASEAL securing widespread recognition for its first commercial product last year. It also follows the expansion of the company’s industry-leading Cloud platform, Engility®, which has been specifically designed to enable clinical trials to be carried out and managed more effectively and new medicines to be brought to market faster.

Daljit Cheema, Founder and CEO of PHARMASEAL, said: “We’re now living in a digitally-driven era where new, increasingly innovative breakthroughs are being made by the minute, creating bigger, better and quicker ways of working. The clinical trial space is no exception. As we all know, clinical trial development is critical to health and crucial to the vaccine development that’s currently underway, which includes the 1,000+ Covid-19 vaccine trials that are taking place right now.”

PHARMASEAL was founded in 2016 by a passionate team of industry leaders , who all shared the same vision - to create smarter technologies and innovative products for companies to improve their management of clinical trials.

All capital raised from the campaign will enable PHARMASEAL to continue the commercialisation and product development of the Engility® platform and support its mission to transform the management of clinical trials. Future clinical trials will require more flexible operating models, stronger collaboration across the clinical development supply chain and greater adoption of management technologies within the SME sector.

Cheema added: “Digital transformation sits at the heart of the future of clinical trials. If ever there was a prime time for pharmaceutical, biotechnology, medical device and clinical research companies to invest in intelligent 21st century clinical trial management technology, such as our Engility® platform, it’s now.”

The crowdfunding campaign can be accessed on Seedrs here. Additionally, UK investors can benefit from tax relief under the Enterprise Investment Scheme (EIS).

PHARMASEAL’s integrated enterprise platform Engility® has been selected and licensed to help manage clinical trials for a leading US health outcomes and technology company, with several other opportunities in the pipeline. The company scooped its first industry award as Best Start-Up of the Year at Medilink East Midlands Business Awards 2019, in addition to launching its second major release.