Clinithink secures growth-equity investment to fuel growth
Leading healthcare technology investors partner with Clinithink to unlock the potential of unstructured data to inform treatment decisions, identify candidates for clinical trials, and ensure appropriate reimbursement
Clinithink, which offers healthcare and life sciences organizations powerful clinical data insights through its patented CLiX natural language processing (NLP) platform, has secured a growth-equity investment from TT Capital Partners (TTCP) and the MSD Global Health Innovation Fund (GHI) to expand its global footprint and continue to broaden its service offering.
Clinithink CEO, Dr Chris Tackaberry said: “We are delighted to have been able to close this latest round of funding with TTCP and MSD GHI. Not only because it enables us to expedite our growth but, strategically, we now have two further partners whose business is all about innovation.”
Narrative clinical patient data is a valuable asset in healthcare that has historically been inaccessible due to its lack of structure and the reliance on structured data and key word searches to interpret and understand this information. Clinithink’s CLiX technology uses market-leading artificial intelligence (AI) technology to accurately ‘read’ and interpret up to two million clinical documents an hour, impacting patient care across the healthcare continuum.
“Clinithink has a proven track record of turning data and information into actionable insight for its biopharma and healthcare provider customers,” said Conor Green, Partner at TT Capital Partners. “We look forward to collaborating with Clinithink’s world-class team as they continue to improve the lives of patients around the world.”
“The ability to capture meaningful information from narrative clinical data across the healthcare spectrum is critical to driving innovation.” added Prem Tumkosit, Investment Principal at MSD Global Health Innovation Fund LLC, “We believe these capabilities have the potential to make a major contribution to changing the way healthcare is delivered.”
Clinithink’s platform delivers the deepest, fastest and most accurate analysis of unstructured data across patient populations currently possible. This analysis provides medical professionals with the knowledge they need to quickly and accurately diagnose conditions and plan the most effective treatments. Which enables our healthcare partners to provide optimal care to patients that is swiftly reimbursed, protecting their ability to deliver care to the people who need it most. This analysis can also fast forward drug development; ensuring protocols are optimized, patients matched and sites identified in a fraction of the time of manual processing. This helps our life sciences associates get the treatments patients need to market faster.