InsightRX Secures $10M Series A Funding to Advance Precision Medicine Analytics Platform

On September 23, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that digital health company InsightRX announced the completion of a $10 million Series A financing round. The round was led by venture capital firm HealthX Ventures.

InsightRX will use the funds from this round of financing to continue developing its precision medicine analytics platform, expand its therapeutic areas, and provide innovative technologies to other hospitals and pharmaceutical companies.

InsightRX, founded in 2015 and headquartered in San Francisco, USA, is a digital health company. The company is dedicated to developing a precision medicine analytics platform and providing personalized treatment plans based on patients’ electronic health records (EHR). To date, InsightRX has raised over $13 million in total funding.

InsightRX has developed the Nova and Apollo analytics platforms. Nova primarily leverages artificial intelligence to analyze clinical data and seamlessly integrates with electronic health record (EHR) systems to help clinicians achieve personalized dosing. Apollo assists healthcare institutions and researchers in identifying previously unrecognized drug toxicities or efficacies, among other factors. Through the platform’s aggregated medical data analysis, healthcare professionals can monitor trends in treatment responses and discover new factors influencing drug efficacy and toxicity.

Currently, more than 100 medical institutions and life sciences companies in the United States, Europe, and other regions have become loyal users of the Nova and Apollo platforms.

InsightRX partnered with Children’s Hospital Los Angeles (CHLA) in March this year to help clinicians develop personalized treatment plans. The company integrates its Nova platform with CHLA’s advanced technologies and collaborates with leading biopharmaceutical companies to develop personalized drugs for clinical trials, thereby accelerating the clinical application of personalized treatment regimens.

Sirj Goswami, Co-founder and CEO of InsightRX, stated, “Personalized medicine is a key driver shaping the future of healthcare by improving patient clinical outcomes through helping clinicians develop better treatment plans. InsightRX has established a data-driven framework to monitor therapeutic effects in real time and explore potential factors influencing drug response.”

Mark Bakken, Partner at HealthX Ventures, stated, “InsightRX’s unique value proposition and advanced data analytics platform are driving progress in the pharmaceutical sector while enabling personalized medication in clinical practice.”

Dr. Michael Neely, Head of the Division of Infectious Diseases at CHLA, stated, “Personalized dosing advocates determining dosage based on each patient’s comprehensive clinical profile to help achieve optimal therapeutic outcomes. Therefore, our mission is to develop dosing regimens tailored to individual patient characteristics, thereby maximizing therapeutic efficacy while significantly reducing drug-related toxicity and adverse effects.”

HealthX Ventures, founded in 2015 and headquartered in Madison, USA, is a venture capital firm. The company primarily focuses on the digital healthcare sector, providing financial support to innovative medical enterprises to enhance the safety and efficiency of healthcare delivery.

(Compiled by Xu Xiaoxue)