A new leadership team is now in place at Playa Vista-based digital clinical trial company Science 37 Inc., nine months after its former chief executive and co-founder stepped back from daily operations.
In November, Science 37 announced the hiring of David Coman as chief executive. Coman, 50, succeeds Noah Craft, a co-founder of the company who stepped down as chief executive in March though he remains on the board.
Then, on Dec. 17, the company announced the hiring of Steven Geffon, 42, as chief commercial officer.
Science 37, which was founded in 2014, uses a digital platform to conduct clinical trials with patients participating from remote locations or to supplement an existing clinical trial site network.
Because of the greater convenience for trial subjects, the company claims it can sign up participants for clinical trials much faster than with traditional methods, recruit up to six times more patients and can keep a higher percentage of patients participating over time.
Over the last four years, the company has raised more than $100 million through four funding rounds, including a $35 million investment in March from multiple investors, including dRx Capital (a joint investment company from Qualcomm Inc. and Novartis), Redmile Group, Lux Capital, Glynn Capital and GV (formerly Google Ventures). The company would not disclose revenue.
Coman has helped pioneer the use of decentralized clinical trials where patients can participate from remote locations, including their own homes.
He previously was chief strategy officer and led the data and analytics business for Philadelphia-based ERT, a technology company that helps minimize risk in clinical trials.
Prior to ERT, Coman founded the digital patient business at Quintiles (now IQVIA) while also serving as the company’s chief marketing officer.
During his more than 25 years in the space, Coman helped launch some of the industry’s first decentralized trials while driving significant growth and enterprise value.
“Science 37 is the only company that has the complete technology stack, experienced telemedicine and home-health network, and embedded talent, to design and execute fully decentralized trials,” Coman said in his statement upon being named chief executive. “I look forward to helping ensure we continue to make decentralized trials a reality that will dramatically shorten development timelines forever.”
