OneStudyTeam lays off a couple of quarter of its workforce

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

“We will affirm that we made the very troublesome resolution to let a few of our group members go. Every particular person performed a task in constructing OneStudyTeam, and we’re grateful for his or her contribution to our mission of accelerating the event of life saving therapies for sufferers. We concluded that we have to restructure our group going into 2023 to streamline operations after a interval of extraordinarily fast progress and hiring,” an organization spokesperson informed 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 medical trial sponsors, websites and contributors, which might make the most of OneStudyTeam’s cloud-based software program StudyTeam and Antidote’s affected person engagement platform. 

In April, OneStudyTeam’s mum or dad firm Reify garnered $220 million in Collection 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 Collection C funding. The corporate additionally introduced in $30 million in Collection B financing in 2020.