A healthcare AI startup whose product scours EMRs to quickly find qualified patients for clinical trials has raised $17 million in Series A funding.
Pasadena, Calif.-based Deep 6 AI announced the round Nov. 25, saying the capital will go toward building its capacity to meet growing demand for not only speedy research participant recruitment but also systematic study design and project management.
In the announcement, the company said more than 85% of clinical trials registered with the FDA get delayed or canceled due to inadequate patient participation.
“We see clinical trials recruiting as a place where a data and AI-driven approach holds tremendous promise in accelerating life-saving research,” added Daniel Gwak, a partner in one of the investment firms leading the funding round, Point72 Ventures. Gwak will join Deep 6 AI’s board of directors as part of the deal.
Deep 6 AI says its current customer roster already includes numerous large healthcare providers, including Cedars Sinai Medical Center and Texas Medical Center, along with various life-sciences companies, contract research organizations and makers of medical devices.