QuantHealth, which uses AI to develop clinical trials, received a strategic investment from Accenture as part of the professional services giant’s Project Spotlight program.
As part of the project, QuantHealth will have access to Accenture’s expertise and its enterprise clients, the company said in a Jan. 8 press release. Other digital simulation companies that are part of the project include Virtonomy and Ocean Genomics.
Financial terms of the investment weren’t disclosed.
QuantHealth uses AI to predict trial outcomes with significant accuracy and lower potential costs of drug discovery. The CRO can test thousands of protocol variations to uncover optimal trial design for success, helping R&D teams more accurately and rapidly predict clinical trial results, decide whether a trial should proceed, and whether drugs can be repurposed.
“Clinical trials are a costly and uncertain process, where the R&D cost of a new drug can be upwards of $1 billion,” Orr Inbar, co-founder and CEO of QuantHealth, said in the release. “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.”
In August, the Tel-Aviv-based startup hauled in $15 million in series A funding it said would be used to further its expansion efforts into areas like regulatory support. That round was co-led by Bertelsmann Investments and Pitango HealthTech with other investors Shoni Top Ventures and Nina Capita joining in. Previous QuantHealth investors include Boston Millennia Partners, Atooro Fund and Renegade Ventures.