Clinical trial workflow platform OneStudyTeam, a Reify Health company, has laid off 160 employees, or approximately 25% of its workforce.
“We can confirm that we made the very difficult decision to let some of our team members go. Each and every person played a role in building OneStudyTeam, and we are grateful for their contribution to our mission of accelerating the development of life saving therapies for patients. We concluded that we need to restructure our team going into 2023 to streamline operations after a period of extremely rapid growth and hiring,” a company spokesperson told MobiHealthNews in an email.
THE LARGER TREND
In November, OneStudyTeam announced a partnership with New York-based Antidote Technologies to offer one platform for clinical trial sponsors, sites and participants, which would utilize OneStudyTeam’s cloud-based software StudyTeam and Antidote’s patient engagement platform.
In April, OneStudyTeam’s parent company Reify garnered $220 million in Series D funding, boosting the company’s valuation to $4.8 billion.