Tools4Patient raises €4M to refine, expand placebo response analytics

As it seeks to apply its placebo response measurement tool to new therapeutic areas beyond pain, Tools4Patient has tapped investors for a €4 million ($4.5 million) series B round.

The company's Placebell technology uses an algorithm to analyze individual patient’s demographics, personality traits and disease characteristics, assigning each a score that can be used in statistical analyses of clinical data to estimate levels of variance due to placebo effects. Trial participants fill out a questionnaire, which is integrated with baseline disease information and other data collected via patient screening...