Biotech, pharmaceutical and life sciences firms all hope AI will streamline drug development and make it more efficient, and 38% have already adopted the technology, in response to Deloitte. QuantHealth goals to participate with a model that predicts risks and outcomes for clinical trials.
The corporate’s AI-powered platform for drug discovery claims to cut back potential risks, optimize clinical trials and help discover how patients in a clinical trial would reply to treatment. The Tel Aviv-based startup said Wednesday it had raised a $15 million Series A funding round, which brings its total raised to $20 million.
“With over 30 years of collective experience in life science and drug development, it was clear to us that the decreasing success rates of clinical trials were becoming untenable for the industry,” co-founder and CEO of QuantHealth Orr Inbar told TechCrunch. Also citing Deloitte, he noted that returns on investment have declined to historic lows.
The differentiator claimed by QuantHealth’s platform is one of the vital extensive integrated datasets, which Inbar described as covering over 350 million patients and greater than 700,000 biomedical graphs and clinical trials. The corporate says the resulting model can predict clinical trial outcomes with 86% accuracy on the binary endpoint metric. Meaning the corporate predicts success or failure for a trial’s primary endpoint (or every other endpoint) 86% of the time.
Greater than 90% of traditionally planned clinical trials fail to make it to market on account of lack of efficacy and safety, Inbar explained.
“Some drugs just shouldn’t go to trial, and for a lot of that ought to, the trials are poorly designed,” Inbar said. “This causes the trials to take longer, cost more and fail more often.”
In a recent case study, QuantHealth helped a client design their phase 2 trial in acute respiratory distress syndrome. “By simulating 1000’s of protocol variations, we were capable of make minor amendments to their protocol that had far-reaching consequences — increasing the goal population by 4.5x, reducing study duration by 11 months, reducing the variety of participants required by 251, all while improving the likelihood of success of the first endpoint by 16.5%,” Inbar said.
Founded in 2020, QuantHealth, which has been commercially energetic for the last two years, works with pharma, biotechs and clinical research organizations, supporting their programs on an ongoing basis, in addition to regulators within the U.S. and Europe.
In June, QuantHealth announced its U.S. expansion with executive appointments, including David Dornstreich as chief business officer and co-founder Arnon Horev as chief strategy and operations officer. The CEO said the outfit has 25 employees in Israel and the U.S., aiming to grow to 40 by next yr.
Bertelsmann Investment and Pitango HealthTech co-led the Series A funding. Existing backers Shoni Top Ventures, Nina Capital and Nova Capital also joined in the most recent round.
The brand new capital will enable the startup to support clinical development teams with its flagship trial design solution and expand its platform for preclinical and drug discovery functions, in addition to expand its business team and operations.