(Information sent by the signatory company)
- Cognivia obtains strategic financing of 15.5 million euros to boost drug development with AI-ML solutions
Using patient personality traits to usher in a new era in clinical research
MONT-SAINT-GUIBERT, Belgium, April 18, 2024 /PRNewswire/ -- Cognivia, an innovative artificial intelligence company dedicated to reshaping pharmaceutical and biotechnology clinical research through cutting-edge AI-ML algorithms, proudly announces a major investment milestone. Vesalius Biocapital IV, SFPIM (Société Fédérale de Participations et d'Investissement) and WE (Wallonie Entreprendre) have committed strategic investments to advance Cognivia's mission to "quantify the power of the mind" to optimize and accelerate drug development programs . This capital injection will enable Cognivia to deploy its predictive clinical trial solutions that decode the relationship between patient traits and behaviors, thereby accelerating the development of innovative treatments for patients on a global scale.
Cognivia's solutions address critical areas that have historically posed significant challenges to drug development, such as placebo response and medication adherence in clinical trials. Unlike any other, Cognivia is a pioneer in quantitatively understanding patients as individuals and integrating these insights into clinical trial data analysis and/or optimizing patient engagement strategies. For example, Placebell™ uses predictive algorithms to mitigate the negative impact of placebo response, improving the study power of clinical trials, resulting in higher success rates and reduced clinical trial timelines and costs. Compl-AI predicts a patient's risk of noncompliance and dropout at screening and during their clinical trial, helping to strengthen and personalize patient engagement strategies.
The capital raised will catalyze Cognivia's efforts to bring its innovative solutions to market and establish a strong presence in the United States. Through the expansion of its team and the establishment of a subsidiary in the United States, Cognivia seeks to foster better commercial and R&D collaborations. In the near future, we plan to strengthen our network through strategic alliances, strengthening our advisory board with new members and forming teams in both the United States and the EU. This strategic move is in perfect alignment with Cognivia's steadfast dedication to becoming a leading partner for pharmaceutical and biotechnology companies, empowering them to develop effective treatments to address unmet patient needs.
In this latest funding round, Cognivia is proud to have the support of three esteemed investors: Vesalius Biocapital IV, a Luxembourg-based venture capital fund focusing on best-in-class investments in healthcare technology and biopharma; SFPIM, the Belgian Sovereign Wealth Fund, which provides strategic guidance and financial support to Belgian companies; and WE, which contributes to the economic development of Wallonia through financing and support in various sectors.
"We are delighted to announce Cognivia as the inaugural investment in our Fund IV, which focuses on health technology and biopharmaceutical companies that are at the forefront of innovation transforming healthcare. We look forward to partnering with them throughout their commercialization and growth stages," explained Olivier Houben, partner at Vesalius Biocapital.
"Cognivia's strategic alliances with Vesalius Biocapital IV, SFPIM and WE mark a pivotal moment in our quest to transform the industry through a unique combination of decades of industry experience and advanced AI," said Dominique Demolle, CEO and co-founder of Cognivia. "With this investment and the welcome addition of new members to our operating team and the company's Board of Directors and Strategic Advisory Committee, to be announced soon, we are prepared to accelerate our efforts to deliver innovative approaches that enable clinicians, researchers and industries make informed decisions, data-driven decisions, that ultimately improve outcomes for patients and stakeholders around the world."
About Cognivia
Cognivia is the first and only company to combine the quantification of patient psychology with artificial intelligence (AI)/machine learning (ML) to improve the measurement of therapeutic efficacy in clinical trials and beyond. Cognivia technologies predict patient behavior and treatment response in clinical trials using ML-powered predictive algorithms based on a quantitative understanding of patient psychological traits, expectations and beliefs collected through proprietary, purpose-built questionnaires. . Cognivia aims to harness “the power of the mind” and quantify this unique phenomenon to improve clinical trial success rates, reduce the risk of drug development, and ultimately improve healthcare.
For more details about Cognivia and its innovative AI solutions, visit cognivia.com or follow @cognivia on LinkedIn.
For media inquiries, please contact:Stephanie AlvarezDirector of Marketing at CogniviaStephanie.alvarez@cognivia.com
Logo - https://mma.prnewswire.com/media/2082754...
View original content: https://www.prnewswire.com/news-releases/cognivia-obtiene-financiacion-para-el-desarrollo-de-farmacos-con-soluciones-ai-ml-302121261.html
