OneStudyTeam lays off about a quarter of its workforce
Clinical trial workflow platform OneStudyTeam, a Reify Health company, has laid off 160 employees, or about 25% of its workforce.
“We can confirm that we have made the very difficult decision to let go of some members of our team. Each person has played a role in building OneStudyTeam, and we are grateful for their contribution to our mission to accelerate the development of vital for patients. We have concluded that we need to restructure our team through 2023 to streamline operations after a period of extremely rapid growth and hiring,” a company spokesperson said. MobiHealthNews in an email.
THE GREAT TREND
In November, OneStudyTeam announces partnership with New York-based company Antidote Technologies provide a single platform for clinical trial sponsors, sites and participants. The platform would use OneStudyTeam’s cloud software known as StudyTeam, as well as Antidote’s patient engagement platform.
In April, OneStudyTeam’s parent company, Reify, raised $220 million in Series D fundingbringing the company’s valuation to $4.8 billion.
This round came less than a year after the company raised $220 million in Series C funding. The company also brought $30 million in Series B funding in 2020.