London-based Bitfount, a federated AI platform, has secured $8 million in Series A funding. This round aims to expand its privacy-preserving network across global healthcare systems for clinical research. Parkwalk Advisors, Ahren Innovation Capital, Pace Ventures, Foresight Group, and Portfolio Ventures participated in the investment.
Clinical research often faces data sharing roadblocks due to strict privacy laws. Bitfount's federated AI platform addresses this by sending algorithms to data locations. This enables secure analysis without moving sensitive patient information.
Advancing Privacy-Preserving Healthcare AI
The technology allows healthcare providers and pharmaceutical companies to collaborate effectively. It supports both electronic health records (EHR) and medical imaging data. This accelerates clinical trials, improving patient recruitment and lowering screen failure rates. Bitfount's no-code desktop application deploys across various healthcare settings. This creates a distributed network, preserving local data control while enabling global collaboration. The platform helps overcome challenges faced by centralized data platforms.
Bitfount's solution directly addresses long-standing data privacy challenges in healthcare.
A validation study with Moorfields Eye Hospital demonstrated significant impact. Screen failure rates for a Dry AMD trial dropped from 60% to 14%. This occurred by combining EHR data with AI-based OCT image analysis. The platform allows pharmaceutical companies to pinpoint suitable patients and ideal trial sites.
The new funding will accelerate product development and expand partnerships. Bitfount will focus on pharmaceutical companies and clinical research organizations (CROs). The company also plans to extend its platform to support the entire clinical research lifecycle. This includes protocol design through regulatory approval. The UK government's 10-Year Health Plan supports such innovations, positioning the UK as a global hub for medical AI development. Bitfount’s federated AI platform is designed to accelerate these goals.
