PhaseV, a leader in AI/ML-driven clinical development, announced today the completion of a $50 million Series A funding round co-led by Accel and Insight Partners, with participation from existing investors Viola Ventures, EXOR, and LionBird. The investment brings the company's total funding to $65 million and positions PhaseV to expand its vertical AI platform for clinical trial optimization.
The Boston-based company has already established a significant market presence with over 30 global pharmaceutical clients using its AI platform across more than 20 therapeutic areas, including neurology, oncology, GI disorders, immunology, metabolic diseases, and rare diseases.
"The pharma industry is at a critical crossroads, as traditional approaches to designing and executing clinical trials struggle to meet growing demands for speed, cost-efficiency, and higher success rates," said Raviv Pryluk, PhD, CEO and Co-Founder of PhaseV. "This funding fuels our mission to support more pharma, biotech, and CROs in embracing AI and machine learning to unlock the next era of clinical development."
Proven Impact on Clinical Development
PhaseV's platform integrates high-quality patient-level data, clinical trial results, real-world evidence, and peer-reviewed insights into a robust data lake that powers its AI algorithms. The company reports impressive metrics from implementations to date:
- 50% reduction in trial costs
- 40% decrease in enrollment size and trial duration
- More than 30% increase in likelihood of trial success
In one notable case, PhaseV helped a leading global pharmaceutical company shorten time-to-market by 15 months, demonstrating tangible ROI for clients.
Matt Robinson, Partner at Accel, expressed confidence in the company's trajectory: "PhaseV is one of the most exciting companies on the rise and, with this financial backing, is positioned to lead the revolution of AI in clinical development. We have been impressed with PhaseV's ability to partner with the world's largest pharma companies, which illustrates how hungry the market is for the company's technology."
Comprehensive AI Platform for Clinical Development
The PhaseV platform currently comprises four core applications that support end-to-end clinical development:
- Trial Optimizer: For designing and implementing Bayesian, adaptive, and fixed trials
- Causal ML: For heterogeneous treatment effect estimation to uncover hidden signals and identify promising subpopulations
- Causal Disease Modeling: To inform new R&D and life cycle management
- Clinical Operations: For ML-driven site selection, performance analytics, real-time monitoring, and virtual control arm integration
Stu Bailey, D.Phil., SVP Head of Clinical Measurement Sciences at EMD Serono, shared his experience working with PhaseV: "Their expertise helped us identify a promising subpopulation that otherwise would not have been detected. They collaborated with our internal teams to ensure the findings drove real value for our development plan. We see opportunity to continue this collaboration with PhaseV as we seek to increase probability of success and drive efficiencies across our clinical portfolio."
Addressing Critical Industry Challenges
The pharmaceutical industry faces mounting pressure to improve clinical trial efficiency while maintaining scientific rigor. Traditional trial designs often result in high failure rates, lengthy development timelines, and substantial costs. PhaseV's AI-driven approach aims to address these challenges by optimizing trial design, identifying responsive patient populations, and streamlining operations.
Dylan Morris, Managing Director at Insight Partners, highlighted the broader implications: "As clinical trials rapidly evolve, accuracy remains critical for biotech companies. PhaseV enables this precision, paving the way for a new era of clinical development. This funding demonstrates our confidence in PhaseV's potential to reshape trial design, accelerate the drug development process and bring new therapies to market faster."
Future Growth Plans
The new funding will enable PhaseV to expand its AI platform capabilities and scale its operations to meet growing market demand. The company plans to enhance its existing applications while developing new features to address additional challenges in clinical development.
With the clinical trial technology market expected to grow significantly in the coming years, PhaseV is positioning itself at the forefront of AI-driven innovation in pharmaceutical R&D, potentially transforming how new therapies are developed and brought to market.
