OneStudyTeam lays off a couple of quarter of its workforce

Medical trial workflow platform OneStudyTeam, a Reify Well being firm, has laid off 160 workers, or roughly 25% of its workforce.

“We will affirm that we made the very tough determination to let a few of our crew members go. Each particular person performed a job in constructing OneStudyTeam, and we’re grateful for his or her contribution to our mission of accelerating the event of lifesaving therapies for sufferers. We concluded that we have to restructure our crew going into 2023 to streamline operations after a interval of extraordinarily speedy progress and hiring,” an organization spokesperson advised MobiHealthNews in an e-mail. 

THE LARGER TREND

In November, OneStudyTeam introduced a partnership with New York-based Antidote Applied sciences to supply one platform for scientific trial sponsors, websites and contributors. The platform would make the most of OneStudyTeam’s cloud-based software program referred to as StudyTeam, in addition to Antidote’s patient-engagement platform. 

In April, OneStudyTeam’s mum or dad firm Reify garnered $220 million in Sequence D funding, boosting the corporate’s valuation to $4.8 billion.

That spherical got here lower than a yr after the corporate raised $220 million in Sequence C funding. The corporate additionally introduced in $30 million in Sequence B financing in 2020.