Funding Overview
Israeli startup PhaseV, specializing in AI-enabled clinical development for life sciences, has successfully raised $50 million in Series A funding. This round was co-led by Accel and Insight Partners, with participation from existing investors including Viola Ventures, LionBird, and EXOR.
This latest funding brings the total amount raised by the company to $65 million.
Company Offerings
PhaseV provides biopharma sponsors and Contract Research Organizations (CROs) with:
- AI and machine learning insights on clinical operations
- Causal disease modeling
- Identification of treatment response patterns in complex data
- Identification of patient subgroups for precision medicine
According to Raviv Pryluk, CEO and co-founder of PhaseV, the pharmaceutical industry is facing significant challenges as traditional methods for designing and executing clinical trials are increasingly inadequate. He stated, “This funding fuels our mission to support more pharma, biotech, and CROs in adopting AI and machine learning to enhance clinical development.”
Market Presence
PhaseV claims to collaborate with over 30 global pharmaceutical companies utilizing its platform for clinical development. In 2023, the company raised an additional $15 million to expand its offerings.
Notable partnerships include:
- Collaboration with GI-focused clinical research organization Alimentiv
- Partnerships with global biometric CRO Quanticate, clinical-stage drug development company NeuroSense Technologies, and oncology-focused CRO iOMEDICO