QuantHealth, an AI-powered clinical trial design company, has recently secured $17 million funding in its latest investment round, aiming to revolutionize clinical trials through the use of artificial intelligence. The funding includes a strategic investment from Accenture Ventures, as well as participation from a prominent contract research organization (CRO) firm and other investors.
The additional funding brings QuantHealth’s total Series A round to $17 million, providing the company with the resources to enhance its platform used by pharmaceutical and biotech companies. The platform is designed to save millions on clinical trials and drug development processes.
QuantHealth’s simulation platform utilizes proprietary AI technology that has been trained on a massive dataset of 350 million patients, along with large biomedical knowledge graphs and clinical trial data. Through this advanced technology, the platform can predict trial outcomes with an impressive 86% accuracy rate on the binary endpoint metric.
By simulating thousands of protocol variations, QuantHealth’s platform has the ability to discover the optimal trial design for success. This helps research and development (R&D) teams in the pharmaceutical and biotech industries to more accurately and rapidly develop and optimize trial protocols.
Clinical trials are highly expensive endeavors, often costing billions of dollars to execute. Unfortunately, less than 10% of drugs that undergo clinical trials make it to market. Additionally, trial failures result in an estimated $50 billion in losses annually, which accounts for roughly 20% of the global pharmaceutical R&D budget. Many of these failures can be attributed to the lack of a proper drug-population fit and drug-protocol fit.
QuantHealth’s platform seeks to address these challenges by simulating trials at scale, effectively lowering risks and expediting the drug development process. The company currently collaborates with several global pharmaceutical firms to leverage its product in clinical trial design and development.
This recent funding announcement follows QuantHealth’s $15 million Series A funding round, which was co-led by Bertelsmann Investments and Pitango HealthTech. Existing investors, including Shoni Top Ventures and Nina Capital, also participated in the funding round.
To complement the funding, QuantHealth has also launched its latest product, Katina. This AI-guided workflow tool provides clinical researchers with the ability to simulate hundreds of thousands of potential trial protocol combinations. By considering various patient groups, treatment parameters, and different endpoints, Katina aims to maximize the probability of trial success.
Orr Inbar, co-founder and CEO of QuantHealth, expressed excitement about the investment and emphasized the potential of AI to transform the clinical trial landscape. He stated, We’re able to seamlessly integrate data and cloud technology into the clinical trial process, not only saving time and money for pharmaceutical companies but also increasing the chance of success in drug development. Accenture’s long-standing experience in this industry and leadership in data and AI will help us continue to scale our platform globally.
QuantHealth’s funding and product launch demonstrate the growing importance of AI in revolutionizing the clinical trial process. By leveraging advanced technologies and data-driven insights, the company is positioning itself as a leading player in enhancing the efficiency, accuracy, and success rates of clinical trials, ultimately benefitting the pharmaceutical and biotech industries as a whole.
Disclaimer: This article is generated by OpenAI’s language model.
