CAMBRIDGE, Mass. — Iterative Health has closed a $77 million Series C financing round to expand its multispecialty clinical research network and accelerate the use of artificial intelligence in clinical trial operations.
The round was led by Intrepid Growth Partners and GV, formerly Google Ventures. New investors included EDBI, the investment arm of SG Growth Capital, the investment platform of EDB and Enterprise Singapore, as well as a prominent family office. Existing investors Insight Partners and Obvious Ventures also participated.
Iterative Health, a healthcare technology and services company, works to embed clinical research directly into patient care. The company said its model combines centralized operations, expert staffing, proprietary AI technology and clinical trial expertise to help research sites enroll patients more efficiently and execute studies at scale.
Clinical trials remain a major bottleneck in drug development, with many research sites struggling to enroll enough patients and many U.S.-based trials missing enrollment targets. Iterative Health said its network is designed to address those issues by placing site success at the center of trial execution while giving sponsors and contract research organizations centralized access to research sites and diverse patient populations.
The company’s global network now includes more than 100 research sites across North America, Europe, India and Australia, along with partnerships with more than 40 pharmaceutical, biotech, medical device and contract research organizations. Iterative Health said that, compared with industry benchmarks for inflammatory bowel disease trials, its network delivers site activation twice as fast, cuts startup timelines by up to three months and produces patient enrollment rates that are three times higher.
“Every delay in a clinical trial is a delay for patients whose outcomes depend on faster access to innovation. By keeping our physician partners and their patients at the center of our model, we’ve built a system that delivers high-performance site execution at scale,” said Jonathan Ng, MBBS, Founder and CEO of Iterative Health. “We are excited to bring greater scale to our model in a variety of new therapeutic areas together.”
The new financing will support Iterative Health’s expansion beyond gastroenterology and hepatology into additional therapeutic areas, including cardiology and obesity. The company also plans to continue geographic growth and broaden partnerships with provider organizations, building on existing collaborations with GI Alliance, OneGI and U.S. Heart & Vascular.
As part of the financing, Ajay Agrawal, Co-Founder and Partner at Intrepid Growth Partners, will join Iterative Health’s board of directors. Anthony Philippakis, General Partner at GV, will join as a board observer.
“Intrepid invests in growth-stage companies that harness the power of AI to execute profound system redesigns that vastly enhance productivity across their industry,” said Ajay Agrawal, Co-Founder & Partner of Intrepid Growth Partners. “Iterative Health is a perfect example of this thesis, having purpose-built its proprietary technology to power a revolutionary clinical trial network that delivers unparalleled speed and scale to the pharmaceutical sector.”
“Clinical research remains the biggest bottleneck in drug development today. Iterative Health is solving this by using AI to accelerate trial enrollment times and bring new medicines to market faster. Jonathan and his team possess the technical depth and operational expertise needed to tackle clinical trial complexity at scale, and we’re excited to support Iterative Health as they expand to new therapeutic areas,” said Anthony Philippakis, General Partner of GV.
Iterative Health said its U.S. gastroenterology and hepatology network has reached meaningful scale, and the company plans to continue working with provider organizations that want to make research a core part of patient care. The company said it will also continue building momentum in newer therapeutic areas as it expands its multispecialty network.
