QuantHealth Secures $15 Million In Series A Funding As per the company, the new funding will be used for commercial expansion, product development and expansion of the platform
By Teena Jose
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QuantHealth, an AI-powered clinical trial design startup, has raised a $15 million in Series A funding round co-led by Bertelsmann Investments and Pitango HealthTech, along with participation from existing investors Shoni Top Ventures and Nina Capital. Existing investors include Boston Millennia Partners, Atooro Fund, and Renegade Ventures. QuantHealth has said to have received $20 million in external funding to date.
As per the company, the new funding will be used for commercial expansion, product development and expansion of the platform beyond clinical trials and into new use cases including regulatory support, and early R&D.
"According to a recent Deloitte article, ROI on pharma R&D has steadily declined, reaching 1.2% in 2022, the lowest the industry has seen in decades. This decline is happening at a time when the need for efficient drug development has never been greater. We firmly believe that deep AI solutions like ours will dramatically enhance the success of clinical trials, and pave the way towards better and cheaper therapies for patients around the world," said Orr Inbar, CEO and co-founder of QuantHealth.
QuantHealth's Clinical-Simulator predicts how each patient in a clinical trial will respond to treatment, allowing trial design teams to run thousands of protocol variations, and optimize the trial design for success. The company claimed that, based on its AI engine trained on a dataset of 350m patients and a biomedical knowledge-graph, QuantHealth's simulator can predict clinical trial results with 86% accuracy, allowing users to answer mission critical questions around trial design, indication selection, asset evaluation, and more.
"We are very pleased to co-invest in QuantHealth alongside Pitango and to further expand our growth unit Bertelsmann Next with an investment focus on Digital Health. The impressive AI technologies of QuantHealth have proven to save pharmaceutical companies millions, helping them bring drugs to market quicker and get patients the treatments they need," said Thorsten Wirkes at Bertelsmann Investments.
