QuantHealth, a Tel Aviv, Israel-based AI-powered clinical trial design startup, recently raised $15M in Series A funding. In conjunction with the funding, Orr Inbar, the co-founder and CEO, answered our questions about the product, the funding, the company and future plans.
FinSMEs: Hi Orr, can you tell us a bit more about yourself? What’s your background?
Inbar: I am Co-Founder and CEO of QuantHealth. I have a technical background in data science, biomedical research, software engineering, and artificial intelligence, all with a focus on healthcare. My experience in life-science, and clinical development in particular, is what led me to found QuantHealth, as I identified disparities in clinical research that could be overcome with novel quantitative methods to increase the success rate of clinical trials.
FinSMEs: Let’s speak about QuantHealth. What is the market problem you want to solve? What is the real opportunity?
Inbar: QuantHealth is an AI-powered clinical trial design platform. Over 90 percent of drugs that make it to clinical trials fail to make it to market, amounting to a $50B waste each year. This happens because there are major gaps in the research needed to support clinical trials. QuantHealth bridges these gaps by simulating trials at scale, to expedite, derisk, and optimize drug development.
FinSMEs: What are the features differentiating the product from competitors?
Inbar: QuantHealth’s proprietary AI technology is its biggest differentiating feature. Our tech is trained on a massive dataset of 350 million patients, large biomedical knowledge-graphs, and clinical trial data. This means that QuantHealth can predict trial outcomes with 86% accuracy.
FinSMEs: You just raised a new funding round. Please, tell us more about it.
Inbar: We’re excited to share that we’ve raised a $15 million Series A funding round co-led by Bertelsmann Investments and Pitango HealthTech, with participation from existing investors Shoni Top Ventures and Nina Capital. Series A rounds are notoriously hard to raise, and this is especially true during a recession and rising inflation. With VC funding dropping nearly 50% over the last year, investors are forced to revert to base principles, limiting their investments to only the top performing companies. Thus, having raised a significant amount during such a time demonstrates QuantHealth’s strong commercial traction and clear line of sight towards its vision of solving the $50B problem in clinical development.
FinSMEs: Can you share some numbers and achievements of the business?
Inbar: With this Series A round wrapped, QuantHealth has received $20M in external funding to date, which has supported our technology and helped us grow our customer base. We are already proudly supporting several large pharma companies, numerous biotechs, as well as CROs, and other industry partners.
FinSMEs: What are your medium-term plans?
Inbar: Now that Series A has closed and been announced, we’re excited to ramp up the scale and automation of our AI platform, to help roll it out to customers more broadly. In parallel, we’re expanding our marketing and commercial teams to broaden our reach and let the world know we’re here, and we’re ready.
FinSMEs
04/10/2023