Supported by significant investors like Peter Thiel, Lindus Health, a tech-forward startup based in London, has successfully raised a hefty sum of $55 million in a Series B fundraising round. The funding drive centers around the company’s ambition to overhaul the inefficient clinical trial industry.
The potential of Artificial Intelligence (AI) in redefining drug discovery and development has created an imperative for updated, efficient clinical trial procedures, to expedite the market introduction of new medication.
At the heart of Lindus’s operations is an AI-driven platform that handles the complete process involved in running clinical trials, fundamentally exploiting automation, and thereby positioning the company as the perfect successor to traditional Contract Research Organizations (CROs). It’s noteworthy that the CRO market, valued at $82 billion just last year, is predicted to balloon to $130 billion by the decade’s end.
Navigating Clinical Trials
Clinical trials encompass different stages- from trial design, protocol and regulatory submission package development, technological setup, patient recruitment, to data collection. A process that could span years, particularly when it involves potential life-saving drugs, efficiency and speed are absolute necessities.
Lindus claims it can automate several aspects of this procedure utilizing machine learning strategies, notably, the initial protocol design, a typically labor-intensive process. Besides software solutions, Lindus provides all necessary resources for conducting end-to-end clinical trials.
Implications of AI in Drug Discovery
AI’s promising applications in healthcare, specifically drug discovery, have sparked excitement among industry stalwarts. An increasing number of startups are leveraging AI to optimize drug discovery.
Healthcare ventures undoubtedly need to expedite the testing processes to establish the true value of technology in drug development and disease eradication. Firms pioneering in AI drug discovery risk underachieving unless the clinical trial process bottleneck is addressed, according to Lindus’s co-founder.
Expanding Horizons
Previously managing to raise approximately $25 million, Lindus Health is preparing to boost its growth using its fresh $55 million funding. Plans include shifting its global headquarters from the UK to the US, investing in its commercial go-to-market team, venturing into more complex clinical trial variants, and enhancing its integrations with external tools such as electronic medical records. Exploiting AI for real-time clinical trial data analysis is also under consideration.
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