Failed clinical trials account for nearly a quarter of R&D budgets for pharma companies. Tel Aviv-based QuantHealth is bringing down those costs by using AI to simulate the patient-drug interactions of clinic trials, allowing companies to boost the success rates of real trials and bring new drugs to market more quickly.
In 2023, the company built a simulator based on 350 million patients, more than 700,000 therapeutics, 100,000 molecules, and 180,000 clinical trials that allows pharma companies to virtually run thousands of clinical trials in minutes, generating synthetic trial data that can offer predictive insights with nearly 86% accuracy. The platform has now completed dozens of simulations for pharma companies and biotech startups, and QuantHealth has entered into a strategic partnership with a leading contract research organization (CRO) for pharmaceuticals. In June, QuantHealth expanded from Europe into the U.S. market, and in January 2024, it announced it had raised $17 million in a Series A round co-led by Accenture Ventures, bringing its total funding to $22 million. In 2023, QuantHealth crossed $1M in annual recurring revenue.
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