We help biopharmaceutical companies run and manage their clinical trials using our cloud B2B software.
- Proof of concept June 2017
- First Market Release of Engility® Trial Management June 2019
- First customer signed up October 2019
- PHARMASEAL wins East Midlands Medilink Start Up award Dec 2019
PHARMASEAL is a software company that is disrupting how clinical trials are managed in its mission to bring new medicines to market faster. Engility® is a new cloud B2B platform, designed for the thousands of global SME companies developing new drugs and medical devices. Typically companies use multiple applications for managing clinical trials from one or more vendors. This increases cost and complexity. Engility® simplifies control by providing a single management platform allowing information to be centralised and accessed from a single platform. With Engility®, companies and suppliers can collaborate, improving the productivity of the supply chain and as a result, their clinical trials. SME companies are critical in developing new medical innovations. Engility® can transform the productivity of the SME sector through the digitisation of processes. Join us in reimagining how future clinical trials are managed.
Substantial accomplishments to date
- February 2016: PHARMASEAL created (formerly known as DCI Consulting)
- October 2016: Started company operations (development), bootstrapped with a Director's loan
- June 2017: Proof of concept completed
- Dec 2017: First seed funding round raised to advance the proof of concept to a minimum viable product (MVP)
- January 2019: MVP completed and company publicly launched with website, advertising and marketing
- February 2019: Second seed funding round raised for final market release and commence commercialisation phase
- June 2019: Market ready Engility® Clinical Trial Management System (CTMS) launched
- October 2019: First customer won(US outcomes research company)
- December 2019: PHARMASEAL wins UK East Midlands "Start Up Company of the Year"
- January 2020: Successfully completed pilot evaluation with UK based medical imaging company
- February 2020: Inside sales function hired to support commercialisation
- March 2020: Added 2nd major business capability (module) electronic trial master file (eTMF) to the Engility® platform, validating the "integrated management" approach for a unified governance system
- July 2020: US medical device company commences evaluation
- August 2020: Crowdfunding campaign launched
PHARMASEAL is a software B2B business selling to pharmaceutical, biotechnology, medical device and contract research organisations engaged in running clinical trials for the approval of new medicines and medical devices. The primary source of revenue is a SaaS software subscription license to use the Engility® platform. Typical contracts will be for a 3-year term license with annual payment in advance. Software subscription will typically generate 80% of the company revenue. Secondary sources of revenue are services associated with the software implementation such as training and implementation services and expected to comprise 20% of the company's revenue. The company has created two product capabilities - a base module Clinical Trial Management System (CTMS) and an optional electronic trial master file (eTMF) module. The company determines the band of charge a customer will fall into based on its industry segment and number of active clinical trials that are run by the organisation
Use of proceeds
The funds raised will support 6-9 months of operational cash flow and support the first stage of commercialisation and disruptive product development. PHARMASEAL is targetting the USA/EU for the first cohort of B2B customer wins. Developing case studies from these initial sales will demonstrate value and accelerate marketing & sales. The utilisation of funds is split between the following activities:
- Commercialisation & Marketing: 31%
- Product Development: 49%
- IT Infrastructure: 13%
- Admin/Legal/Misc: 7%
Inside sales function driving lead generation will be expanded and focussed on US and EU territories respectively to attract early adopters.
Targeted Marketing supports digital advertising, trade publications, webinars and relevant conferences.
Product development is focussed on disruption by:
- Further developing the full capabilities of the 2nd product (electronic trial master file) recently added to the platform
- Enhancing general platform features (BI and Integrations)
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