Shuyao Technology Bags Tens of Millions of Yuan in First Financing Round

Shuyao Technology, a provider of digital clinical trial integration platforms, announced on Tuesday that it has completed its first round of financing totaling tens of millions of yuan. This round was led by Jinshajiang Venture Capital, followed by ZhenFund and Sequoia China. The new funds will be mainly used for R&D, marketing and talent recruitment.

Founded in July 2021, Shuyao Technology is dedicated to making clinical research more valuable. The “ICT@Site” platform solution developed by the firm is based on hospitals and includes four modules: institutional integrated management system, experimental electronic medical record (research ward) system, sponsor integrated service system, subject recruitment and full service system.

Based on the value that can be brought to the sponsor, in addition to building a digital system for hospitals and obtaining software benefits, the firm will expand to provide business and data services for sponsors. These include remote monitoring, intelligent screening of subjects, remote services for subjects, and obtaining corresponding value-added service fees.

In the future, the firm will also try to apply big data in clinical trials, including cooperating with researchers to explore academic value, regulatory value brought by data traceability in the whole chain, and commercial aspects. Sponsors can use real-world evidence as supplementary evidence in the extended review of drug indications.

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In terms of data security, He Guoping, the founder of Shuyao Technology, said that the digital platform mainly adopts hospital privatization deployment, and ensures data security and privacy protection through three aspects. First, clinical trials themselves have high requirements for ethics, and subject information will be desensitized to protect privacy. Second, the data submission process is completely reviewed and controlled by medical institutions. Third, in the multi-center clinical trial, blockchain technology is adopted to ensure the security of data interaction between multi-centers.

After the platform was launched in February 2022, nearly 10 hospitals across China have made cooperation with Shuyao Technology, and more than 10 hospitals are ready to cooperate.