SAN FRANCISCO—Concerto HealthAI unveiled a steady drum beat of announcements at this year’s J.P. Morgan Healthcare Conference, including a $150 million funding round and separate real-world data partnerships with Big Pharma companies.
That includes an expansion of its precision oncology collaboration with Pfizer to renal cell carcinoma and prostate cancer as well as a new, multi-disease artificial intelligence project with Johnson & Johnson’s Janssen division.
In addition, Concerto HealthAI unveiled a new digital research software platform, dubbed eurekaHealth 3.0, that will combine real-world data with AI technology to help users predict the characteristics of a patient population.
The $150 million series B round was led by Declaration Partners with additional backing from Maverick Ventures, AllianceBernstein PCI and SymphonyAI Group. The proceeds will be slated for Concerto HealthAI’s innovation work and services for regulated and non-regulated applications, as well as its expansions into additional therapy areas and commercial patient solutions, the company said.
“We are impressed with Concerto HealthAI’s innovative culture, technology leadership, and significant runway for growth,” said Declaration Partners’ Andrew Goldfarb—who joins the company’s board—referring to its 90% year-over-year revenue gains. “Concerto HealthAI is positioned to empower next-generation clinical research, accelerate breakthrough therapies, and improve patient outcomes.”
Meanwhile, Concerto HealthAI’s expansion with Pfizer adds breast and lung cancers to its previous clinical development initiatives in kidney and prostate diseases, which were first announced in April 2019. Pfizer will also be one of the company’s first adopters of eurekaHealth 3.0 to help drive new trial designs as well as non-interventional studies.
The program will use real-world data licensed from the American Society of Clinical Oncology’s CancerLinQ database and other sources. Its first outcomes research publications are expected in mid-2020.
With Janssen, Concerto HealthAI plans to use its eurekaHealth enterprise software, as well as its Genome360 translational offering, to help the drugmaker characterize individual cancers.
“We are excited to bring our unique integration of RWD, technology applications, and data science expertise to collaborate with Janssen’s researchers and data scientists to optimize drug development for patients,” said Concerto HealthAI CEO Jeff Elton.