PhaseV, a company leveraging AI to design clinical trials, raised $50 million in a Series A funding round. Co-led by Accel and Insight partners, the investment brings PhaseV’s total venture funding to $65 million.
The company serves biotechnology and pharmaceutical sponsors, providing them with tools to help them execute trials faster and achieve greater cost efficiency and success rates. Its platform uses AI and machine learning to optimize various trial types, estimate variability in treatment effects, inform research and development through causal disease monitoring and streamline clinical operations.
Equipped with its new capital, PhaseV plans to expand its vertical AI platform. Supporting more than 20 therapeutic areas like oncology, immunology and rare diseases, the platform has largely increased trial success, while significantly reducing trial costs, enrollment size and trial duration, according to the company.
