Tel Aviv-based startup QuantHealth has secured $15 million in a Series A funding round to introduce its AI-powered clinical drug trials platform in the US market. The company’s platform leverages artificial intelligence to predict risks and outcomes for clinical trials, helping to reduce potential risks, optimise trial design, and enhance patient response predictions. With a total funding amount of $20 million, QuantHealth aims to address the decreasing success rates of clinical trials in the industry, which have reached historic lows, according to CEO Orr Inbar.
Key Takeaway
QuantHealth’s AI-powered platform for clinical drug trials uses an extensive integrated dataset to accurately predict trial outcomes with an 86% accuracy rate on the binary endpoint metric. With traditional clinical trials experiencing high failure rates due to lack of efficacy and safety, the platform’s ability to improve trial designs and outcomes has the potential to significantly impact drug development and streamline the process.
AI-powered Clinical Drug Trials
The adoption of AI technology in drug development has been growing, with 38% of biotech, pharmaceutical, and life sciences companies already using AI to streamline their processes, according to Deloitte. QuantHealth aims to join the movement by offering its platform that uses AI algorithms to provide insights into risks and outcomes of clinical trials. By leveraging an extensive and integrated dataset covering over 350 million patients, as well as more than 700,000 biomedical graphs and clinical trials, QuantHealth’s platform can predict clinical trial outcomes with an impressive 86% accuracy rate on the binary endpoint metric.
Addressing the Challenges of Clinical Trials
The success rates of traditional clinical trials have been declining, resulting in significant costs and time delays for the pharmaceutical industry. QuantHealth’s platform aims to address these challenges by helping to identify drugs that are unlikely to succeed in trials and improving the design of trials to optimize their chances of success. By simulating thousands of protocol variations, the platform can make minor amendments that have far-reaching consequences. In a recent case study, QuantHealth was able to increase the target population of a phase 2 trial by 4.5 times, reduce the study duration by 11 months, and decrease the number of participants required by 251, all while improving the likelihood of success of the primary endpoint by 16.5%.
Expansion Plans and Funding
QuantHealth, founded in 2020, has been commercially active for the past two years and has established partnerships with pharma, biotech, and clinical research organizations, as well as regulators in the US and Europe. With its new funding, QuantHealth plans to support clinical development teams with its flagship trial design solution, expand its platform for preclinical and drug discovery functions, and grow its commercial team and operations. The company has recently announced its expansion in the US market, appointing new executives to its team.
Co-led by Bertelsmann Investment and Pitango HealthTech, the $15 million Series A funding round also saw participation from existing backers Shoni Top Ventures, Nina Capital, and Nova Capital. The funding will enable QuantHealth to further advance its AI-powered platform and contribute to the improvement of clinical drug trials and overall drug development processes.
