QuantHealth, an AI-powered clinical trial design company that simulates clinical trials has received a strategic investment from Accenture Ventures along with participation from a leading CRO firm and additional investors.
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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.
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“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.”
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“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.”
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About QuantHealth
Founded in 2020, QuantHealth is an AI company conducting patient-centric drug simulations to accelerate and de-risk drug development. Over 90% of drugs in clinical development stage fail to reach the market, which accumulates to a $45B/year direct lost to the pharma and biotech industry.
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QuantHealth platform allows pharma and biotech partners to rapidly run thousands of variations of their clinical trials to optimize the trial design and significantly increase the probability of trial success, all while enabling discovery of new clinical opportunities and optimization strategies.
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