Notable Health Secures $40 Million Series B Funding to Advance AI-Powered Clinical Trial Platform

On July 17, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that healthcare information technology company Notable Health (Notable) announced the completion of a $40 million Series B financing round. The round was led by B Capital Group and Lifeforce Capital, with participation from Industry Ventures.

Notable will leverage the funds from this financing round to drive company growth and enhance its drug clinical trial platform, thereby assisting pharmaceutical companies in developing anticancer drugs. The platform is primarily designed to predict patient subgroups likely to exhibit drug responses in the short term, helping researchers assess the efficacy of clinical trials and increase the likelihood of trial success.

Multiple independent clinical studies conducted by Stanford University, The University of Texas MD Anderson Cancer Center, the University of California, San Francisco, Seattle Children’s Hospital, and Texas Children’s Hospital have demonstrated the safety and efficacy of the Notable clinical trial platform.

It is reported that Notable had previously completed three rounds of financing, raising a total of nearly $20 million. Specifically, the company closed a $3 million seed round in May 2018 and a $13.5 million Series A round in September 2018.

Notable, founded in 2017, is a high-tech healthcare company based in San Francisco, USA, with an experienced technical team. The company is dedicated to researching artificial intelligence and health information technology, aiming to improve human health by collecting medical data and developing advanced technologies. Led by Silicon Valley entrepreneur Matt De Silva, Notable offers a suite of products capable of reshaping healthcare delivery models and streamlining healthcare operations.

Matt De Silva stated, “Our mission is to facilitate communication between patients and clinicians, leverage precisely designed AI systems to streamline healthcare workflows, and drive the development of the healthcare industry.”

Notable’s AI-powered intelligent healthcare assistant leverages professional expertise in fields such as pharmaceuticals, nursing, and health. By utilizing deep learning and natural language processing (NLP), it performs speech recognition, records treatment data, understands the needs of physicians and patients, and addresses related issues. This artificial intelligence product enhances the patient care experience, assists physicians in reviewing patients’ medical histories, and provides reasonable treatment recommendations. The intelligent healthcare assistant is primarily used to optimize clinical workflows and deliver health education to both physicians and patients.

Notable is currently researching automation and digitalization technologies for its AI-powered medical assistant, enabling it to automatically document physicians’ diagnostic workflows and update patients’ electronic health records (EHR).

In the field of intelligent healthcare, Notable adheres to the Health Insurance Portability and Accountability Act (HIPAA), striving to simplify medical data management and reduce escalating healthcare costs.

B Capital Group, founded in 2015 and headquartered in California, USA, is a venture capital firm. The company primarily focuses on technological innovation, artificial intelligence, and e-commerce, providing resources to technology-driven enterprises. B Capital Group was ranked by the U.S. digital media outlet *The Information* as the ninth most diverse venture capital firm in Silicon Valley.

Lifeforce Capital, founded in 2015 and headquartered in San Francisco, USA, is a venture capital and financial services firm. The company primarily invests in artificial intelligence, healthcare, genomics, and biopharmaceuticals, helping digital health companies build new healthcare service models.

Founded in 2000 and headquartered in San Francisco, with an office in Washington, D.C., Industry Ventures is a venture capital and private equity firm. The company invests across multiple sectors, including artificial intelligence, digital media, and public transportation, managing over $3.4 billion in assets. Industry Ventures boasts a professional investment team and maintains deep collaborations with venture capital firms and technology enterprises. In 2017, global data provider Preqin recognized Industry Ventures as the “U.S. Secondary Fund and Portfolio Fund Representative.”

(Compiled by Xu Xiaoxue)