PhaseV Secures $50M Series A to Advance AI-Driven Clinical Trials, Gaining Trust from Top Pharma Companies

PhaseV, a pioneering company in AI and machine learning-driven clinical development, has secured a significant $50 million Series A funding round, co-led by Accel and Insight Partners. Existing investors Viola Ventures, EXOR, and LionBird also participated, bringing PhaseV’s total funding to $65 million. The company, founded and led by Dr. Raviv Pryluk, aims to transform the pharmaceutical industry's approach to clinical trials, addressing the growing need for speed, cost-efficiency, and higher success rates. Traditional methods of designing and executing clinical trials are becoming increasingly outdated, unable to keep pace with the demands of modern drug development. PhaseV’s vertical AI platform offers a comprehensive solution to these challenges. The platform is already in use by over 30 global pharmaceutical companies, covering more than 20 therapeutic areas such as neurology, oncology, GI disorders, immunology, metabolic diseases, and rare diseases. At the heart of PhaseV’s technology is a robust data lake that integrates high-quality patient-level data, clinical trial results, real-world evidence, and peer-reviewed insights. This data-driven approach has yielded impressive results, reducing trial costs by 50%, decreasing enrollment size and trial duration by 40%, and increasing the likelihood of trial success by more than 30%. For instance, a leading global pharma company saw a 15-month reduction in time-to-market thanks to PhaseV’s platform. The AI-based platform consists of four core applications: Trial Optimizer: This application helps in designing and implementing Bayesian, adaptive, and fixed clinical trials, ensuring that each step is optimized for maximum efficiency and success. Causal ML: This tool uses advanced machine learning techniques to estimate heterogeneous treatment effects, uncovering hidden signals in clinical data and identifying subpopulations and endpoints with the highest potential for success. Causal Disease Modeling: This application informs new research and development (R&D) efforts by providing insights into disease progression and potential treatment targets. Clinical Operations: This module offers data-driven site selection, site performance analytics, real-time trial progress monitoring, and the integration of virtual control arms, ensuring that trials run seamlessly from start to finish. One notable partnership highlights PhaseV's impact. EMD Serono, a subsidiary of Merck KGaA, worked with PhaseV to identify clinically meaningful subgroups in one of their trials using Causal ML. The collaboration brought to light a promising subpopulation that would have otherwise gone unnoticed, driving significant value for their development plan. Industry insiders are highly optimistic about PhaseV's prospects. Matt Robinson, Partner at Accel, praised PhaseV's ability to partner with the largest pharma companies, indicating a strong market demand for their technology. He sees PhaseV leading the AI revolution in clinical development. Dylan Morris, Managing Director at Insight Partners, emphasized the precision and efficiency that PhaseV’s platform brings to the table, noting that the company's promising results and ambitious plans make it a compelling investment. PhaseV’s success is underpinned by its commitment to delivering measurable returns on investment (ROI). By increasing trial success rates, reducing costs, and accelerating time to market, the company is not only helping pharmaceutical and biotech firms but also contributing to the broader goal of advancing medical research and bringing new therapies to patients more quickly. In essence, PhaseV is set to redefine the landscape of clinical development with its cutting-edge AI/ML solutions. The latest funding round positions the company to expand its platform, enhance its offerings, and continue its mission of making clinical trials more efficient and effective. As the healthcare industry continues to evolve, PhaseV stands out as a trailblazer with the potential to significantly impact the future of drug development. Accel and Insight Partners, known for their strategic investments in innovative tech companies, see PhaseV as a key player in the burgeoning field of AI in healthcare. With a track record of delivering tangible benefits and a vision for continuous improvement, PhaseV is on the path to transforming clinical trials and contributing to the accelerated delivery of life-saving treatments.