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2020 On-site Closes Final Tranche of $8MM Growth Financing

·4-min read

Investment Will Support the Expansion of 2020 On-site’s Mobile Eye Care Services for Businesses, Schools and Pharmaceutical Companies

2020 On-site, a Boston-based mobile optometry company whose mission is to expand access to high-quality vision care including clinical research, has raised an additional $3.5 million in growth capital to complete an $8M investment. The funds will allow the company, America’s leading provider of on-site vision care, to expand current consumer operations and increase its support for clinical trials through the delivery of ophthalmic assessments conducted at or near patients’ homes.

2020 On-site deploys a fleet of specially outfitted vehicles staffed with trained and licensed specialists to deliver eye care to patients where they work or go to school, and in the neighborhoods and residential complexes where they live. The company’s direct-to-patient delivery model provides consumers with unparalleled access, time savings, and convenience for valuable vision care services. 2020 On-site’s growing patient population now exceeds 75,000, and the company has service delivery contracts with more than 500 sponsoring employers.

Pre-pandemic, 85% of clinical trials failed to recruit and retain enough patients to meet their enrollment timeline. Trials also lack diversity in patient populations by race, age, and geographic location, and less than 45% of clinical trials report their data on time or early. When the COVID-19 pandemic hit, clinical trials across the country were impacted as research sites scaled back their operations, with many patients unable or unwilling to travel. Studies were at risk of missing critical assessments to keep trials on track and patients enrolled.

With pandemic restrictions in place, 2020 On-site recognized an opportunity to deploy its mobile vision care delivery model to help drug trial sponsors recover and expand access to trial participants by delivering trial-specific assessments to clinical trial participants at their homes. The company first collaborated with Applied Genetic Technologies Corporation (AGTC), an AAV gene therapy company with a focus on inherited retinal diseases, to design and implement a novel strategy to provide trial support services in May 2020 and has now completed scores of assessments in two dozen states involving multiple trials.

"When we were first asked by AGTC if we could use our mobile clinics and staff to keep its clinical trials on track, we immediately saw a valuable, continuing role we could play for pharmaceutical sponsors. Our direct to patient capabilities help to accelerate trial completion, increase trial quality and consistency, increase participant diversity, reduce geographic constraints, and simply reduce the risk of trial disruption," said 2020 On-site Chief Executive Officer, Alexis McLaughlin. "Our services offer real benefits for patients, too, making the trial experience easier, safer, and less time-consuming, especially for patients with vision related diseases that make it extremely difficult to travel to study sites. We expect the convenience and other benefits we offer will lead to increased and quicker participant enrollment for future studies for vision altering diseases and our plan is to expand our mobile testing capability to a broader range of clinical trials."

"We’ve been thrilled to work with 2020 On-site on their ground-breaking approach for patients that are enrolled in our trials," said AGTC President and CEO, Sue Washer. "They have been driving innovation to help patients by expanding access to vision care and to clinical trials. 2020 On-site truly stepped up during a challenging time to improve access and to support our commitment to patients participating in our clinical trials."

2020 On-site also supports the delivery of drug therapies already on the market—for instance, a specific inherited genetic disorder whose treatment can trigger possible eye-related side effects are screened for by 2020 On-site’s mobile teams at regional centers around the country and even at the homes of patients who cannot easily travel.

About 2020 On-site

Founded in 2014, 2020 On-site’s mobile vision clinics and our world-class eye care team have provided vision care to over 75,000 patients at their workplaces, schools, and neighborhoods. In May 2020, services were expanded to include vital access to clinical trial assessments and tests, bringing updated and uniquely equipped vans directly to trial participants. Named one of Inc. Magazine's Fastest-Growing Companies in 2018, 2020 On-site is disrupting the delivery of health care and empowers the Life Sciences research field. For more information, visit 2020onsite.com or to learn more about 2020 On-site’s clinical trials capabilities, please visit 2020onsite.com/lifesciences or email clinicaltrials@2020onsite.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005142/en/

Contacts

Shannon Severino
shannon@pascalecommunications.com
412-608-2393