Inato Receives $20 Million Investment

Inato is known as a company that provides access to clinical trials. The company announced that it has raised $20 million in Series A2 financing from existing and new investors. Paris-based startup Inato is developing an AI-based data collection tool for the pharmaceutical industry. The company has raised $20 million from lead investor Cathay Innovation, return investor Obvious Ventures, and new investors La Maison and Top Harvest Capital. Company has so far received a total of $35.5 million in investments since late 2017.

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Inato

According to Inato, this AI-based data collection tool collects data for site selection and patient recruitment in clinical trials. It then analyzes it to help speed up the process and reduce development costs. Big pharma companies spend around 15% of their annual revenue on clinical trials to fund a new drug before it receives market approval. These clinical trials often involve thousands of patients and can cost up to $500 million. However, it is also important to note that 70% of clinical trials take place in only 5% of centers and only 5% of patients participate in these clinical trials.