TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--QuantHealth, an AI-powered clinical trial design company that simulates clinical trials, today announced it has received a strategic investment from Accenture Ventures along with participation from a leading CRO firm and additional investors. The new capital brings the total A round amount to $17M and will enable QuantHealth to enhance its platform used by pharmaceutical and biotech companies to save millions on clinical trials and drug development.
With proprietary AI technology trained on a massive dataset of 350 million patients, large biomedical knowledge-graphs, and clinical trial data, QuantHealth’s simulation platform can predict trial outcomes with 86 percent accuracy on the binary endpoint metric. 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 are a costly and uncertain process, where the R&D cost of a new drug can be upwards of $1 billion,” said Orr Inbar, co-founder and CEO of QuantHealth. “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.”
Clinical trials can cost billions of dollars to execute, with less than 10 percent of drugs making it to market. Trial failures account for an estimated $50B in losses annually, which is roughly 20 percent of the global pharmaceutical R&D budget. Lack of drug-population fit and drug-protocol fit account for most of these failures. By simulating trials at scale, QuantHealth’s platform can lower risks, expedite, and optimize drug development. QuantHealth is already working with several global pharmaceutical companies to use its product in clinical trial design and development.
“QuantHealth’s clinical trial simulation platform can fast-track clinical trials and help pharmaceutical and biotech companies bring life-saving treatments to patients,” said Tom Lounibos, global lead of Accenture Ventures. “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.”
This announcement extends QuantHealth’s recent $15M Series A funding round to $17M co-led by Bertelsmann Investments and Pitango HealthTech, with participation from existing investors Shoni Top Ventures and Nina Capital. 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.
About QuantHealth
90% of drugs fail the clinical stage, representing a direct $50B annual waste to pharma companies. To address this challenge at its core, QuantHealth's Clinical-Simulator predicts how each patient in a clinical trial will respond to treatment, allowing trial design teams to predict how an entire clinical trial will play out, and optimize trial design. Based on its novel AI engine and a vast dataset of 350m patients and over 700K therapeutics, QuantHealth's simulator can predict clinical trial results with 86% accuracy, allowing users to answer mission critical questions such as cohort optimization, indication selection, in-licensing asset evaluation, and more. QuantHealth was founded by healthcare experts who led commercial, product, and data science at various leading companies in the US and Israel. QuantHealth is backed by expert Life-Science investors in the US, Europe and Israel, and is supported by an advisory board of physicians and scientists from leading academic institutions.
