QuantHealth, an AI-powered clinical trial design startup, has received investment led by Bertelsmann Investments and Pitango HealthTech, with participation from existing investors Shoni Top Ventures and Nina Capital. The startup announced that it has raised a $15 million Series A funding round. Previous investors include Boston Millennia Partners, Atooro Fund and Renegade Ventures. QuantHealth has also received $20 million in external financing to date.
Breakthrough Technology from QuantHealth
According to a recent Deloitte paper, the return on investment in pharmaceutical R&D has been steadily declining, reaching 1.2 per cent in 2022, the lowest level the industry has seen in decades. This decline comes 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 improve the success of clinical trials and pave the way to better and cheaper treatments for patients in the neighbourhood.Orr Inbar, CEO and Co-Founder of QuantHealth
More than 90 per cent of medicines undergoing clinical trials do not reach the market. And this amounts to a waste of $50 billion every year. This is because there are huge gaps in the research needed to support clinical trials! QuantHealth bridges these gaps by simulating trials at scale to accelerate, reduce risks and optimise drug development. For QuantHealth’s groundbreaking technology A massive dataset of 350 million patients, vast biomedical knowledge graphs and a proprietary AI technology trained with clinical trial data can predict trial outcomes with 86 per cent accuracy. QuantHealth proudly supports many large pharmaceutical companies, numerous biotechs, CROs and other industry partners.
QuantHealth’s Series A funding round comes after the company announced its expansion into the US market, with a number of executive appointments including David Dornstreich as Chief Commercial Officer and Co-Founder Arnon Horev as Chief Strategy and Operations Officer. The new funding will be used for commercial expansion, product development and the expansion of the platform beyond clinical trials into new use cases, including regulatory support and early R&D.
We are very pleased to co-invest in QuantHealth together with Pitango and to further expand our growth unit Bertelsmann Next with a focus on Digital Health investment. QuantHealth’s impressive AI technologies have proven to save pharmaceutical companies millions, help them bring medicines to market faster and help patients get the treatments they need.Thorsten Wirkes