Thread

THREAD is a digital clinical trial management platform that supports clinical trial types from remote trials to hybrid to fully decentralized trials. The platform supports all phases of the clinical trial process including 1) onboarding as well as e-consent and authentication, 2) electronic clinical outcome assessments to digitally record trial data and outcomes, 3) telehealth solutions to connect patients and researchers using video calls 4) patient engagement to encourage participation through reminders and notifications, and 5) analytics to identify trends and patterns in collected data. 

In addition to its platform, THREAD offers consulting services to help customers refine the design and assist with setting up a clinical trial. Furthermore, the platform is compliant with industry standards including HIPAA, FDA’s 21 CFR Part 11, ICH GDP, and GDPR.

Key customers and partnerships

As of May 2022, the company supported over 200 clinical trials in over 50 countries. THREAD was also working with several partners to strengthen its product offering, including Amazon Web Services for cloud-based decentralized clinical trials, InVibe for voice support and clinical design services, CureClick for improved awareness and participation of patients in clinical trials, and Eversana for improved data visibility for pharmaceutical companies using THREAD’s platform. 

In May 2023, THREAD partnered with Allucent , a consulting agency for clinical trials, to launch a decentralized clinical trial solution called “Allucent Patient Direct Trials.” The platform provides technology and regulatory expertise to small and emerging biotechnology companies, assisting with the design-stage of clinical trials.

In October 2023, the company expanded its partnership with data connectivity company Datavant , launching a tokenization feature for clinical trial and real-world data.

Funding and financials

THREAD raised USD 50 million in 2020 from two strategic investors (Water Street Healthcare Partners and JLL Partners). The funds were to be used for expanding the business reach and operations, including acquisitions of complementary services and companies.