Trialbee, a privately held patient enrollment company based in Sweden, is well positioned for more growth in 2022 after coming out of last year with a doubling of sales.
The group said in a Wednesday release that its headcount increased by 33% last year. Wall Street analysts estimate the headcount to be 54 employees as of December. Zoominfo pegs Trialbee’s revenues at under $5 million.
Trialbee, which was formed in 2010 and is based in Malmö, Sweden, said it now works with six out of 10 of the largest pharmaceutical companies in the world. Further growth is anticipated this year and beyond due to increased demand for data-driven services to improve patient recruitment. The industry expects 50,000 clinical trials that will require the recruitment of 125 million patients over the next five years.
“Our technology represents the next generation of research and analytical tools, giving recruitment teams the visibility and control they require to reliably meet recruitment goals,” Matt Walz, Trialbee’s chief executive, said.
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Trialbee launched its flagship Trialbee Honey product in 2021, which tracks and measures recruitment activities while streamlining enrollment timelines by using real-time analytics. Sponsors have used the Honey software to screen a half million patients and conduct 5,000 telehealth qualification sessions covering 20 clinical research studies in 10 countries, the company said.
In May last year, Trialbee was tapped by Worldwide Clinical Trials to help boost trial recruitment.