Deep 6 AI Secures $17 Million Series A Funding to Accelerate and Optimize Clinical Trial Design, Patient Recruitment, and Trial Management

On November 25, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Deep 6 AI, a leading provider of clinical trial acceleration software, announced the completion of its $17 million Series A financing round. The round was led by Point72 Ventures, with participation from GSR Ventures.

It is understood that this round of financing will strengthen Deep 6 AI’s market leadership to meet the demand from healthcare providers, pharmaceutical companies, and research institutions for its AI-driven tool suite, which is designed to accelerate and optimize clinical trial design, patient recruitment, and trial management.

In fact, tens of thousands of clinical trials are registered with the FDA each year to evaluate new therapies; however, more than 85% of these trials are delayed or even fail due to the inability to timely identify and recruit a sufficient number of patients. The underlying reason is that recruiting patients who meet the eligibility criteria is highly time-consuming and inefficient, requiring dedicated personnel to comprehensively review patient records.

The cost of trial delays is substantial—each day of delay can result in millions of dollars in lost revenue and increased costs for trial sponsors. Deep 6 AI leverages artificial intelligence to parse clinical trial eligibility criteria and match them against structured and unstructured patient health databases from participating sites. This enables clinical trial teams to identify and review eligible patients within minutes. It also allows trial sponsors and healthcare providers to pinpoint where eligible patients are located in advance, thereby facilitating patient recruitment and investment in trial sites.

Daniel Gwak, a partner at Point72 Ventures, stated, “We believe that data- and AI-driven approaches to clinical trial recruitment will accelerate life-saving interventions, and this field holds immense promise. By enhancing patient recruitment and trial design to expedite clinical trials, Deep 6 AI’s approach has strongly resonated with healthcare providers and trial sponsors, who regard Deep 6 AI as a leader in this space. As more institutions recognize the need for and value of clinical trial acceleration software, we are pleased to support their scaling efforts to meet market demand.” As part of this investment, Daniel Gwak will join the board of directors of Deep 6 AI.

Wout Brusselaers, CEO of Deep 6 AI, stated, “We are thrilled to partner with Point72 Ventures to pursue our vision of building the world’s leading software platform for accelerating clinical trials. Point72 Ventures’ emphasis on supporting industry leaders serves as a testament to the reputation of Deep 6 AI’s products and technology in this emerging sector. Their investment will enable us to rapidly scale our operations to meet the strong market demand for our software.”

In addition to numerous large life sciences companies, medical device manufacturers, and research institutions, Deep 6 AI’s clients also include Cedars-Sinai Medical Center and Texas Medical Center, as well as several other major healthcare systems across the United States.

Point72 Ventures is a global venture capital firm led by experts across multiple sectors, with capital capable of supporting companies at every stage of their development. The firm primarily invests in fintech, AI technology, and enterprise technology. Point72 Ventures maintains offices in New York City; Palo Alto, San Francisco; and Stamford, Connecticut.

(Compiled by: Xiong Hui)