QuantHealth co-founders Arnon Horev and Orr Inbar.
QuantHealth, an Israeli medtech startup that offers AI-powered clinical trial simulations, raised an additional 2 million investment from Accenture Ventures along with participation from a leading CRO firm and additional investors. Together with the $15 million raised in a Series A financing round in September, the company has now brought in a total of $17 million.
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 loss to the pharma and biotech industry.
Today, over 90% of experimental therapies that reach human trials fail to make it to market. These trials fail primarily due to a lack of efficacy and safety. Some drugs shouldn’t go to trial, while many that do are suboptimally designed. All this is causing trials to become increasingly longer, more expensive, and less effective while patients aren’t getting the drugs they need.
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QuantHealth boasts that its platform allows its 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 the discovery of new clinical opportunities and optimization strategies. QuantHealth says that it offers one the largest integrated datasets that span the clinical, pharmacological and biological domains together with a proprietary AI platform that can “predict patient-response to both approved and novel therapies.”
“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.”
