Miami based company Modern Trials is looking to capitalize on the big money market of medical trials, and a contract research industry that sees medical companies spending around $100 billion a year to find patients for clinical trials.
The trials can reportedly cost around $50 million each and there can be around 70,000 active trials ongoing within the United States at a given time.
Modern Trials founder Chris Ochner noticed an issue in this space based on his two decades worth of experience in the research and clinical trial niche, and his personal experience. Ochner had his own challenges when trying to connect his mother with a clinical trial.
“I thought, no problem, I’ll get this done in 20 minutes” Ochner said, according to Refresh Miami. “I spent a month and couldn’t find a trial for my own mother. That’s when I realized that this process is broken.”
Modern Trials, which was founded in 2019, is currently completing its proof of concept stage and has been entirely bootstrapped and there are plans currently for a full product launch within the next several months.
Ochner has been excited to continue building the company in Miami.
“It’s been phenomenal here” he said of South Florida. “This momentum is such an exciting thing to see, and there’s so much willingness to help.”