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Europe's clinical trials startups struggling to scale, unlike the US

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Clinical data is a goldmine — but Europe's startups are struggling to grow

The COVID-19 pandemic also spotlighted another promising alternative to carry out these trials — startups.

It's a baffling slump, given that pharmaceutical companies are reliant on successful clinical trials when bringing a drug to market. And they remain behind behind on data acquisition and digitization of patient records, according to Christoph Ruedig, partner at Albion VC., Europe's startups are lagging behind.

Founders are aware of the cultural differences in clinical recruitment in Europe and the US. The UK's state-funded health service, the NHS, has"a strong want to participate in clinical trials on the basis of its ethical responsibilities," said Matt Wilson, CEO of clinical-trials startup uMed."People want to be part of research without clear revenue paths. In the US, it's very clear it needs to be a profitable endeavor for the people involved.

 

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