Saama Secures $40 Million Series B Funding to Accelerate Drug Development with AI-Powered Clinical Analytics Cloud Platform

VCBeat (WeChat ID: vcbeat) has learned that on March 25, 2019, U.S. local time, clinical data analytics company Saama announced the completion of a $40 million Series B financing round, with hedge fund Perceptive Advisors as the investor. Renowned investment bank Torreya Partners served as the financial advisor in this transaction.

Since its founding in 1997, Saama has cumulatively raised $75.8 million in funding, following the completion of a $35.8 million Series A financing round in June 2015.

Financing History (Source: Crunchbase, VCBeat)

Saama is an advanced clinical data company that unlocks value from data to deliver superior services to the life sciences industry. The proceeds from this funding round will be used to expand the company’s Life Science Analytics Cloud. Saama’s Life Science Analytics Cloud is an AI-powered platform that spans all stages of clinical trials. It comprehensively collects and processes internal and external clinical trial and patient data to provide actionable insights. The deep learning capabilities of the Life Science Analytics Cloud significantly shorten the timeline from clinical planning to New Drug Application (NDA) submission, enabling pharmaceutical R&D companies to submit NDAs more efficiently and bring drugs to market faster and at lower costs.

“Pharmaceutical companies, patients, charitable organizations, and global regulatory agencies are all eager to accelerate the clinical trial process while reducing costs. We are delighted to drive this transformation through our AI-powered data analytics platform,” said Suresh Katta, Founder and CEO of Saama. “We intend to use the proceeds from this financing to strengthen our collaborations with pharmaceutical companies, academic institutions, and data providers. Perceptive Advisors understands the drug clinical development process and the need to adopt advanced technologies to accelerate it, thereby helping pharmaceutical companies achieve breakthrough clinical innovations.”

Sam Chawla, Investment Manager at Perceptive Advisors, stated, “Perceptive Advisors’ investment in Saama will enable this leading data analytics company to continue innovating, providing significant support for its future growth and delivering a positive impact on new drug clinical trials.”

Global hedge fund Perceptive Advisors was founded in 1999 and is headquartered in New York, USA. The firm specializes in the biomedical industry, channeling capital and other resources into the most promising startups in modern healthcare. Perceptive Advisors manages approximately $4 billion in assets and has invested in more than 60 companies to date.

(Compiled by Yang Shaobo)