AI clinical trial data startup, Beaconcure, secured $14 million in a Series B funding round, led by NewVale Capital, with contributions from existing investors.
The startup's AI platform, Verify, was developed in partnership with Pfizer. It automates and streamlines the clinical trial data statistical analysis process, making it the first independent platform of its kind. Many top pharmaceutical companies and Contract Research Organizations (CROs) have implemented Verify to reduce their data verification timelines from months to days, while also identifying potentially catastrophic errors.
Beaconcure's mission is to reduce the cost and time to complete every clinical trial. Its new platform to life and empower clinicians, statistical programmers, and medical writers with a powerful set of tools that were previously unavailable.
Beaconcure also announced the appointment of its Strategic Advisory Board, which includes industry visionaries across clinical development, biostatistics, and regulatory areas. The board members include Craig Lipset, former Head of Clinical Innovation at Pfizer, John Oidtman, a skilled biopharmaceutical enterprise leader, and Irving Dark, an international operations and business development executive.
The startup plans to use the funds to strengthen its pioneering position in clinical data validation, expand its commercial organization, and launch its next-generation platform.
