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January 10, 2023

Framingham biotech firm secures $58M in funding

Photo | Google Alira Health is located on the fourth floor of this Grant Street building in Framingham.

Framingham clinical research firm Alira Health, which is anticipating a spike in demand as more patients have control over their data, has raised $58 million in capital funding. 

The funding will be used to accelerate Alira’s use of new patient-centric medical technology, according to a Monday press release from the company. The 21st Century Cures Act, signed into law in 2016, allowed for more patient control over personal data, a change Alira said it was anticipating and will use to innovate.

"With the Cures Act empowering patients to access their own data, Alira Health is well positioned with a significant tailwind in our favor, as we have been preparing for this major paradigm shift for years," Gabriele Brambilla, CEO and co-founder of Alira Health, said in the release. "We are executing on our winning strategy to become a patient-centric solutions provider, enabled by innovative technologies that will collect clinical and real-world data directly from patients, powerfully informing the development of new drugs and devices. 

This financing announcement comes after the company previously raised $35 million in 2021 and $40 million in 2022, in two rounds led by Creadev, a French investment company. Creadev holds a minority stake in the company.

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