Science 37 Holdings, Inc. (SNCE): Business Model Canvas

Key Partnerships

Science 37 Holdings, Inc. recognizes the importance of strategic partnerships to enhance its capabilities and reach in the healthcare and clinical research industry. Some of the key partnerships that the company has established include:

• Collaborations with pharmaceutical companies: Science 37 works closely with pharmaceutical giants to conduct clinical trials and research studies. These partnerships help the company gain access to new treatments and therapies, as well as expand its network within the industry.
• Partnerships with CROs and biotech firms: By partnering with contract research organizations (CROs) and biotech companies, Science 37 is able to leverage their resources and expertise to streamline its clinical trial processes and accelerate drug development timelines.
• Academic and research institution alliances: Science 37 collaborates with leading academic and research institutions to tap into their scientific knowledge and expertise. These partnerships enable the company to stay at the forefront of medical advancements and innovation.
• Technology and software providers: To optimize its digital clinical trial platform, Science 37 partners with technology and software providers. These collaborations help the company enhance its data analytics capabilities, cybersecurity measures, and user experience for both patients and researchers.

Key Activities

Science 37 Holdings, Inc. specializes in revolutionizing clinical trials by conducting decentralized trials that leverage technology and telemedicine to streamline the process. Some of the key activities that the company engages in include:

• Clinical trial design and management: Science 37 designs and manages clinical trials, ensuring that they are conducted efficiently and effectively. This involves developing protocols, selecting study sites, and overseeing the execution of the trial.
• Patient recruitment and retention strategies: One of the biggest challenges in clinical trials is recruiting and retaining participants. Science 37 uses innovative strategies to identify and engage potential participants, as well as to keep them engaged throughout the trial.
• Data management and analysis: Collecting and analyzing data is crucial to the success of a clinical trial. Science 37 has developed sophisticated systems for data collection, storage, and analysis, ensuring that the results are accurate and reliable.
• Regulatory compliance and reporting: Compliance with regulatory requirements is essential in conducting clinical trials. Science 37 ensures that all trials are conducted in accordance with relevant regulations and that all reporting requirements are met.

Key Resources

Science 37 Holdings, Inc. relies on several key resources to drive its business model. These resources enable the company to effectively conduct decentralized clinical trials and provide innovative solutions to its clients in the healthcare sector.

• The company's proprietary technology platform, known as NORA, serves as the foundation for its decentralized clinical trials. NORA streamlines the process of conducting trials by enabling remote patient access, data collection, and monitoring, ultimately reducing the need for physical sites and increasing patient participation.
• NORA also offers features such as TeleVisit, eConsent, and ePRO (electronic patient-reported outcomes) to enhance the efficiency and accuracy of clinical trials.

• Science 37 Holdings, Inc. relies on a team of experienced clinicians, researchers, and scientists who possess deep expertise in various therapeutic areas. This expertise allows the company to design and execute robust clinical trial protocols and ensure the validity and reliability of study results.
• By leveraging their clinical and scientific knowledge, the team at Science 37 Holdings, Inc. can develop tailored solutions for clients and effectively navigate regulatory requirements in the healthcare sector.

• The company has established strategic partnerships and a vast network within the healthcare sector, including pharmaceutical companies, research institutions, healthcare providers, and patient advocacy groups.
• These partnerships enable Science 37 Holdings, Inc. to access a broad pool of patients for clinical trials, collaborate with leading healthcare organizations, and stay abreast of industry trends and developments.

• Science 37 Holdings, Inc. possesses advanced data analytics capabilities that allow it to collect, analyze, and interpret clinical trial data effectively. The company leverages data insights to optimize trial design, patient recruitment strategies, and overall trial outcomes.
• By harnessing the power of data analytics, Science 37 Holdings, Inc. can identify trends, patterns, and potential risks in real-time, enabling proactive decision-making and improving the quality and efficiency of clinical trials.

Value Propositions

Science 37 Holdings, Inc. offers several key value propositions that set it apart in the clinical trial industry:

• Accelerated patient recruitment: By utilizing a decentralized model that allows patients to participate in clinical trials from their own homes, Science 37 is able to recruit patients more quickly than traditional clinical trial methods. This not only speeds up the overall trial timeline but also increases the likelihood of reaching recruitment goals.
• Reduced clinical trial costs: The decentralized model employed by Science 37 eliminates the need for costly physical study sites, resulting in lower overall trial costs. By conducting trials remotely, the company can pass on these cost savings to clients, making clinical trials more accessible and affordable for all.
• Improved data quality and speed of analysis: Science 37's platform collects real-time data from patients, allowing for quicker analysis and improved data quality. This leads to more accurate results and faster decision-making, ultimately benefiting both the trial sponsor and patients participating in the study.
• Access to a broader patient base through remote trials: By offering remote clinical trials, Science 37 enables access to a wider and more diverse patient population. This not only helps to improve the generalizability of study results but also ensures that clinical trials are more inclusive and representative of the wider population.

Customer Relationships

Science 37 Holdings, Inc. (SNCE) focuses on building strong and long-lasting relationships with its customers, primarily pharmaceutical clients. The company understands the importance of providing support and consultancy throughout the entire clinical trial process, from study design to data analysis.

• Direct relationships with pharmaceutical clients: SNCE works closely with pharmaceutical companies to understand their specific needs and challenges. By maintaining direct communication channels, SNCE is able to tailor its services to meet the unique requirements of each client.
• Support and consultancy for clinical trials: SNCE offers comprehensive support and consultancy services to assist clients in the planning, execution, and analysis of clinical trials. This includes study design, patient recruitment, data collection, and regulatory compliance.
• Ongoing client engagement and support: SNCE is committed to providing ongoing support to its clients throughout the duration of their clinical trials. This includes regular check-ins, progress updates, and troubleshooting assistance as needed.
• Community and patient engagement initiatives: In addition to working with pharmaceutical clients, SNCE also engages with communities and patients to ensure that their voices are heard throughout the clinical trial process. This includes outreach programs, educational resources, and patient advocacy efforts.

Channels

Science 37 Holdings, Inc. leverages multiple channels to reach its target audience and deliver its remote clinical trial services:

• Digital platform for remote clinical trials: Science 37's primary channel is its digital platform, which allows patients to participate in clinical trials from the comfort of their own homes. This platform streamlines the recruitment and enrollment process, making it easier for patients to join trials.
• Direct sales team for pharmaceutical clients: Science 37 has a dedicated sales team that works with pharmaceutical companies to promote the benefits of remote clinical trials. This team builds relationships with key decision-makers in the industry and educates them on the advantages of using Science 37's platform.
• Online marketing and social media: To reach a wider audience, Science 37 utilizes online marketing strategies and social media platforms. Through targeted advertising and engaging content, the company raises awareness of its services and attracts potential patients and pharmaceutical clients.
• Industry conferences and networking events: Science 37 actively participates in industry conferences and networking events to showcase its remote clinical trial platform. By attending these events, the company can connect with key stakeholders in the healthcare and pharmaceutical sectors, ultimately expanding its reach and building partnerships.

Customer Segments

Science 37 Holdings, Inc. caters to a variety of customer segments within the life sciences industry. These include:

• Pharmaceutical companies: Large pharmaceutical companies rely on Science 37's innovative technology and services to streamline their clinical trial processes, reduce costs, and accelerate drug development timelines. Science 37 provides a platform that enables these companies to conduct decentralized clinical trials, allowing for greater patient access and convenience.
• Biotechnology firms: Biotechnology companies often partner with Science 37 to leverage their expertise in virtual clinical trials. By utilizing Science 37's platform, biotech firms can efficiently collect real-world data, engage with patients remotely, and advance their research and development efforts.
• Contract Research Organizations (CROs): CROs play a crucial role in conducting clinical trials on behalf of pharmaceutical and biotechnology companies. Science 37 provides CROs with the tools and technologies needed to manage decentralized clinical trials, recruit and retain patients, and optimize trial operations.
• Academic researchers and institutions: Science 37 also serves academic researchers and institutions that are involved in clinical research. By offering a decentralized trial platform, Science 37 enables researchers to collaborate with a diverse patient population, gather high-quality data, and conduct studies more efficiently.

Cost Structure

Science 37 Holdings, Inc. incurs several costs in order to operate and grow its business. The key components of its cost structure include:

• Development and maintenance of technology platforms: Science 37 invests heavily in the development and maintenance of its technology platforms, which enable remote clinical trials to be conducted efficiently. This includes costs for software development, IT infrastructure, and ongoing updates to ensure the platforms remain secure and user-friendly.
• Salaries of clinical and technical staff: Another significant cost for Science 37 is the salaries of its clinical and technical staff. This includes hiring experienced doctors, nurses, and other healthcare professionals to oversee clinical trials, as well as technical experts to manage the technology platforms and data analytics.
• Marketing and customer acquisition costs: To attract sponsors for clinical trials and reach a wider audience of participants, Science 37 incurs costs for marketing and customer acquisition. This includes advertising, attending industry conferences, and forming partnerships with healthcare organizations.
• Operational and administrative expenses: Science 37 also has various operational and administrative expenses, such as office rent, insurance, utilities, and legal fees. These costs are necessary to support the day-to-day functioning of the business and ensure compliance with regulations.

Revenue Streams

Science 37 Holdings, Inc. generates revenue through multiple streams that are interconnected to support its innovative business model:

• Science 37 offers a comprehensive platform for conducting virtual clinical trials, making it easier for sponsors and participants to engage in studies remotely. The company charges fees for managing these trials, including patient recruitment, retention, and monitoring.
• This revenue stream is a key driver for the company, as it leverages its technology to streamline the clinical trial process and improve efficiency for sponsors.

• Science 37 provides access to its platform for sponsors, CROs, and other stakeholders in the clinical research industry through subscription fees.
• By offering a digital environment for conducting trials, the company creates value for its customers and generates recurring revenue from ongoing platform usage.

• In addition to managing clinical trials, Science 37 offers data analysis and consulting services to help sponsors interpret and utilize the information collected during their studies.
• These services add value to the platform and provide an additional revenue stream for the company.

• Science 37 collaborates with pharmaceutical companies, research organizations, and other stakeholders in the healthcare industry to develop new study designs and expand its reach into different therapeutic areas.
• Through partnership agreements, the company can generate revenue from joint projects and shared resources, providing further diversification to its income streams.