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 lifesaving 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. The platform would utilize OneStudyTeam's cloud-based software known as StudyTeam, as well as 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.

That round came less than a year after the company raised $220 million in Series C funding. The company also brought in $30 million in Series B financing in 2020.