Software platform Sano Genetics has raised $11.4m in a funding round to support its mission to bring AI to medical trials.
Sano Genetics uses AI to help all aspects of medical trials from trial design to patient recruitment.
This funding round was led by early-stage investment company Plural. Sano Genetics stated that the money will be used to meet growing demand for its products and expand into other countries.
Sano Genetics is currently operating in Australia, the UK, US and Canada.
In 2023, Sano Genetics recorded a five times annual recurring revenue growth and doubled the number of its employees to 62.
By incorporating AI into patient recruitment, Sano Genetics hopes to provide patients with precision medicine at a faster rate. Currently only one in five medical trials receive enough participants in the required time frame, leaving patients with a longer wait than necessary for breakthrough medicines.
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Sano Genetics’ digital matchmaking service speeds up the process for its pharmaceutical customers to find the right candidates for trials.
The company also combines genetic data into clinical trials, creating a higher success rate at 26% rather than the standard 10% success rate of clinical trials without genetic evidence.
“Precision medicine is going to transform how healthcare is delivered but it needs seamless software tools like Sano Genetics’ to accelerate its impact,” stated partner at Plural, Carina Namih, “My own experience of the difficulty of running clinical trials during my time leading HelixNano helped me understand profoundly just how sorely a platform like Sano Genetics is needed.”
Drug research and development is an expensive and timely process.
In its 2022 report into AI in drug discovery, research and analysis company GlobalData found that AI is increasingly being used in clinical trials to handle the growing swathes of data produced.
Physician notes, pathology reports, electronic health records,
patient registries and genomics are all forms of data that can be collected and managed by AI.
GlobalData’s smart pharma survey found that 54% of respondents felt as though AI was already disrupting the pharma industry and a further 13% answered that AI would begin to impact their business in the next 12 months.