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Saturday, April 13, 2024

Winston-Salem’s Javara raises $9.4 million

A clinical trials company based in Winston-Salem has raised $9.4 million from five investors, according to a Securities and Exchange Commission filing.

Javara Inc. raised the money by selling debt, according to the filing.

The company is an integrated research organization, which is different than a clinical research organization.

Traditionally clinical trials are conducted at the same study sites with the same groups of patients. This, according to Javara, leads to inequities and inefficiencies, and in the end, delayed trials of new drugs.

Instead, Javara partners with large healthcare organizations to provide access to broader and more diverse patient populations. Its partners include Atrium Health Wake Forest Baptist,  Mankato Clinic, Nevada Health Centers, Privia Medical Group and Tryon Medical Partners.

Jennifer Byrne is the company’s chief executive officer. She has been with Javara since June 2018. She previously was CEO of PMG Research, which was the primary clinical research partner to multiple health systems.

Byrne said the company would use the money to “further invest in deepening our relationships and expansion with our current healthcare partners and to allow us to broaden into more therapeutic areas of research.”

Javara made this year’s Fast 5000 list by Inc. magazine, ranking No. 94 with three-year revenue growth of 5,070%. It has more than 250 employees.

In August, Javara announced its latest strategic partnership, with Nevada Health Centers. Javara will employ and embed clinical research professionals within its clinics to work alongside physicians and medical staff.

In April 2022, Javara raised $30 million. And in September 2021, the company raised $5.3 million.

 

Chris Roush
Chris Roush
Chris Roush is executive editor of Business North Carolina. He can be reached at croush@businessnc.com.

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