Evid Science Receives Seed Capital to Advance Clinical AI Platform
Published: Feb 16, 2018
LOS ANGELES, CA (February 15, 2018) - Evid Science, an artificial intelligence (AI) company for the pharmaceutical industry, has successfully secured seed funding from TKS I, a new private equity fund dedicated to early stage life science companies.
“Our technology is quite advanced,” says Dr. Matthew Michelson, CEO of Evid Science. “Within seconds, the platform is able to answer questions about how effectively a given drug performs within its class, or how the safety profiles of two competing therapies stack up to one another. This new funding will help us drive our product to market and into the hands of pharmaceutical researchers, medical affairs personnel and marketers. We are thrilled to have TKS I on board who share both our short and long-term visions.”
Evid Science's AI platform changes the way that therapeutic comparison reports are generated by automating the normally arduous process. These reports, called comparative effectiveness studies, are regularly used by clinical trial, drug development, and marketing strategists to compare the efficacy of existing therapeutics and view the competitive landscape for a specific indication. A thorough comparative effectiveness study typically requires the manual collection and analysis of clinical trial results from several sources and is extremely time consuming and can miss important pieces of data. Evid Science’s AI platform turns this process into an on-the-fly experience to quickly uncover valuable insights hiding in the masses of medical literature.
To achieve a complete therapeutic analysis, Evid Science leverages AI technology developed through years of research funded by the National Institutes of Health (NIH), the Defense Advanced Research Projects Agency (DARPA), and the Allen Institute for Artificial Intelligence (AI2). This fresh injection of private capital from TKS I will complement the ongoing government funding and be used largely for hiring and expanding the company’s sales and marketing efforts.
TKS I is a healthcare and life science focused venture fund managed by Tikehau Investment Management in Singapore, and advised by Sprim, a globally integrated health science consulting firm. Ivan Jarry, managing partner of Sprim, will join Evid Science’s board as a result of this funding.
“We are excited to announce our investment in Evid Science,” said Jarry. “Their technology solves a major problem for our customers dealing with expensive and time consuming comparative studies. The automation of this onerous endeavor has the potential to accelerate research and benefit all stakeholders. What Matthew and his team have developed is impressive, and we're delighted to work together to create a global market leader.”
About Evid Science Inc.
Evid Science represents a revolution in the healthcare and pharmaceutical industries. Leveraging cutting edge research in artificial intelligence and machine learning, Evid Science is building the largest database of therapy evidence in the world. Soon, the answers to any comparative cost and outcomes questions will be answerable, in seconds. Access to this data will put evidence into the hands of pharmaceutical and medical professionals at an unprecedented scale and depth. Further information can be found at www.evidscience.com.
Sprim is a global innovation firm focused on healthcare. With a team of 600 professionals and 19 offices globally, our team transforms the newest opportunities and breakthroughs in health into business and marketing realities for companies and brands every day. Sprim is a unique integrated service model combining consulting, agency and CRO. After 17 years in business, Sprim offers its services to over 450 customers around the globe. Further information can be found at www.sprim.com.
About Tikehau Capital
Tikehau Capital is an asset management and investment group which manages €12.6bn of assets, with shareholders’ equity of €2.3bn. The group invests in various asset classes (private debt, real estate, private equity and liquid strategies), through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs 185 staff in its Paris, London, Brussels, Madrid, Milan, Seoul and Singapore offices.
Tikehau Capital is listed on Euronext Paris, compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
Further information can be found at www.tikehaucapital.com.