Israeli startup PhaseV, an AI-enabled clinical development company for life sciences, has secured $50 million in Series A funding in a round co-led by Accel and Insight Partners.
Existing investors Viola Ventures, LionBird and EXOR also participated in the round.
The round brings the company’s total raise to $65 million.
WHAT IT DOES
PhaseV offers biopharma sponsors and clinical research organizations (CROs) with AI- and ML-enabled insights on clinical operations, causal disease modeling, uncovering treatment response patterns in complex heterogeneity data and identifying patient subgroups for precision medicine.
“The pharma industry is at a critical crossroads, as traditional approaches to designing and executing clinical trials struggle to meet growing demands for speed, cost-efficiency and higher success rates,” Raviv Pryluk, CEO and cofounder of PhaseV, said in a statement.
“This funding fuels our mission to support more pharma, biotech and CROs in embracing AI and machine learning to unlock the next era of clinical development. Our solutions deliver clear ROI by increasing trial success rates, reducing costs and accelerating time to market.”
MARKET SNAPSHOT
PhaseV touts that it works with over 30 global pharma companies that use its product for clinical development.
In 2023, the company raised $15 million in funding.
The startup has established numerous partnerships with life sciences-focused companies.
Earlier this year, PhaseV announced a collaboration with GI-focused clinical research organization Alimentiv.
Last year, the company partnered with global biometric CRO Quanticate, clinical-stage drug development company NeuroSense Technologies, and oncology- and hematology-focused CRO iOMEDICO.
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