How a 10Fold IPO Visibility Campaign Helped a Health IT Disrupter Change the Game for Clinical Trials

Clinical trials are a foundational step in the development of new drugs and treatments. But these essential studies for demonstrating safety and efficacy can be laborious and time consuming – with hurdles ranging from long recruitment times and less than ideal retention rates, to geographic and process challenges that can limit the diversity of patients taking part in clinical trials. 

Health IT firm Science 37 (Nasdaq: SNCE) was founded to solve these issues by decentralizing clinical trials and speeding collaboration through digitization.  Founded in 2014, the company accelerates clinical trials and erases geographical boundaries through its Science 37 OS platform, standardized processes and centralized networks of patient communities, telemedicine investigators, mobile nurses, remote coordinators, provider communities, and data and devices. It has successfully conducted more than 95 decentralized clinical trials involving more than 366,000 patients.  

However, Science 37 faced a business challenge – that of becoming a publicly listed company through a merger with LifeSci Acquisition II Corp. (NASDAQ: LSAQ) (“LifeSci”), a blank check company targeting the biopharma, medical technology, digital health and healthcare services sectors, and strategizing its debut on the Nasdaq exchange. Raising the company’s visibility and influence in the ramp-up to this special purpose acquisition company (SPAC)-based IPO was a huge priority for Science 37, and that’s when they turned to 10Fold. 

The goals included generating media and industry attention via PR and social outreach around two significant points in time – in May when Science 37 announced its intent to IPO via a SPAC merger and the closing of the IPO and listing on Nasdaq in October.  10Fold also needed to shape and promote Science 37 differentiators as a unique platform for decentralized clinical trials – including compelling messaging on the benefits for enrollment, retention and social and ethnic diversity in clinical trial participation. These efforts would be measured against aggressive outreach targets and KPIs. 

Starting in April 2021, the 10Fold team developed the messaging and collateral needed to tell the compelling story of Science 37 and its IPO journey. This included explaining Science 37’s relatively novel use of SPAC funding as an alternative to venture capital. We also needed to tell the disruptive story of decentralized clinical trials to revolutionize the speed, reliability and patient diversity in clinical trials. 

The program quickly racked up key wins. The initial announcement of the intent to do a SPAC IPO, garnered 54 pieces of unique coverage including an exclusive with Bloomberg on the day of the announcement – significantly above the promised 6 features and 12 briefs. In the demanding metric of proactive embargoed news release outreach, 10Fold secured an impressive 19 articles from journalists reviewing the news prior to the release date.  

Later in October, the 10Fold team worked closely with Science 37 as the IPO closed and the company officially began trading on the Nasdaq. This second push on SPAC-based IPO outreach included Science 37 executives appearing in 4 broadcast interviews alongside more than 20 print articles including The Street, American Business Journal, Endpoints and more. 

Outside of these two specific points in time, 10Fold created a steady stream of coverage through placing multiple contributed articles, securing podcasts and Q&As on key industry topics such as diversity, the patient experience and the role of real-world evidence in longitudinal studies. Additionally, company news from the expansion of the executive team, Science 37 research studies and partnerships rounded out the coverage in publications such as Applied Clinical Trials, HIT Consultant, Clinical Research News and other outlets.  

Perhaps the biggest sign of success is the fact that Science 37 quickly expanded the 10Fold engagement from an initial two-month project for the initial intent to SPAC-based IPO to a comprehensive, ongoing communications and marketing engagement that lasted several months. 

Ultimately, 10Fold helped Science 37 succeed in its October 2021 Nasdaq debut and grow its brand and influence as a pioneer in technology-accelerated clinical trials.  10Fold is proud of our role in helping an innovative healthcare technology company accelerate and improve the way drugs and treatments are developed and go to market. 

Read more about this and other 10Fold case studies here

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