QuantHealth – an AI-powered clinical trial design company that simulates clinical trials – recently announced it has received a strategic investment from Accenture Ventures, participation from a leading CRO firm, and additional investors. And the new funding brings the total Series A round to $17 million. It will enable QuantHealth to enhance its platform used by pharmaceutical and biotech companies to save millions on clinical trials and drug development.
Through proprietary AI technology trained on a massive dataset of 350 million patients, large biomedical knowledge graphs, and clinical trial data, QuantHealth’s simulation platform could predict trial outcomes with 86% accuracy on the binary endpoint metric. And it can test thousands of protocol variations and discover the optimal trial design for success, helping research and development (R&D) teams more accurately and rapidly develop and optimize trial protocols.
Clinical trials could cost billions of dollars to execute, with less than 10 percent of drugs making it to market. And trial failures account for an estimated $50 billion in losses annually, which is roughly 20 percent of the global pharmaceutical R&D budget. The lack of drug-population fit and drug-protocol fit account for most of these failures. By simulating trials at scale, QuantHealth’s platform could lower risks, expedite, and optimize drug development. QuantHealth works with several global pharmaceutical companies to use its product in clinical trial design and development.
This announcement extends QuantHealth’s recent $15 million Series A funding round to $17 million, co-led by Bertelsmann Investments and Pitango HealthTech, with participation from existing investors Shoni Top Ventures and Nina Capital. And the funding is also followed by QuantHealth’s latest product launch, Katina, which provides clinical researchers with an AI-guided workflow that simulates hundreds of thousands of potential trial protocol combinations of patient groups, treatment parameters, and different endpoints to maximize the trial success probability.
KEY QUOTES:
“Clinical trials are a costly and uncertain process, where the R&D cost of a new drug can be upwards of $1 billion. QuantHealth has created a solution that uses AI to transform how pharmaceutical companies approach their clinical trials. 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.”
— Orr Inbar, co-founder and CEO of QuantHealth
“QuantHealth’s clinical trial simulation platform can fast-track clinical trials and help pharmaceutical and biotech companies bring life-saving treatments to patients. In addition to accelerating and enhancing global drug discovery efforts, we will work alongside QuantHealth, our clients and ecosystem partners to expand medicine and treatment options and find new opportunities to bolster patient care.”
— Tom Lounibos, global lead of Accenture Ventures
