Exclusive: Briya bags $11.5M for patient data exchange platform
Briya, an Israeli-based, blockchain-secured patient data exchange platform, raised $11.5 in Series A funding, David Lazerson, co-founder and CEO of Briya, tells Axios exclusively.
Why it's the BFD: Increased and accelerated access to clinical data is paramount to improved and innovative care.
Details: Team8 led the round.
- Other participants include existing investors Insight Partners and Amiti Ventures, as well as the George Kaiser Family Foundation.
- The round brings the company to a total of $17 million in funding.
How it works: Briya connects clinics and hospitals with academic and pharmaceutical research teams, in a bid to optimize clinical trials, ensure regulatory compliance, and accelerate drug discovery.
- The company facilitates retrieval of patient information by converting health care data into FHIR or OMOP standards and de-identifying queried data.
- Briya's emphasis on privacy and security — versus making it "an afterthought" — stood out to Team8, says managing partner Assaf Mischari.
- "Briya provides a complete solution that allows even small healthcare providers to collaborate with researchers," says Mischari.
- "The automatic data discovery, harmonization, and baked-in privacy and security measures dramatically reduce the administrative and IT burden that, in many cases, prevents collaboration."
What's next: The fundraise has a runway of about two years. Proceeds will primarily help Briya accelerate U.S. expansion as it looks to partner with hospitals and providers.
- While Briya is hyper-focused on growth now, Lazerson says he expects profitability will become more important after it raises a Series B.
The big picture: As noted above, the FDA continues to call for diversity in clinical trials. Briya is well-positioned to help life sciences organizations navigate that evolving framework, Mischari says.