GATC Health Corp. has joined forces with Medical and Commercial International Limited (MCI) to pioneer a novel artificial intelligence (AI)-driven financing model for clinical trials. This innovative approach aims to provide the biotech industry with access to insurance coverage for clinical trial funding, specifically designed to alleviate the financial burdens and challenges commonly faced by early-stage drug development companies.
The financing model, which has received approval from Lloyd’s of London, leverages GATC’s AI technology and machine learning systems to simulate intricate human physiology. This simulation enables accurate predictions of the efficacy, safety, and potential off-target side effects of novel pharmaceutical assets, ultimately forecasting trial endpoints with greater precision.
Phil Trafford, CEO of MCI, emphasized the significance of this development, stating, “Clinical trial funding insurance is a revolutionary new insurance product with huge unmet demand, and access to Lloyd’s will allow MCI to capitalize on this opportunity.” He further added that the program will work in conjunction with lenders and investors to foster medical innovation and provide unparalleled risk assessment accuracy.
John Stroh, chief of GATC, echoed this sentiment, noting, “Through our new relationship with MCI, backed by Lloyd’s, we aim to transform the drug development financial model to bring safer and more effective treatments to those who are suffering from acute medical conditions.”
Ben Canagaretna, global managing director of Acrisure Re Corporate Advisory and Solutions, highlighted the unique combination of financing and insurance enabled by GATC’s AI, stating, “GATC’s AI has enabled this first-of-a-kind combination of financing protected by insurance in case the clinical trial is not successful.” He also noted the strong early interest from biotech companies and large brokerage firms, indicating a substantial demand for this type of innovative financing program.
GATC reports that its Multiomics Advanced Technology platform has been instrumental in the discovery and trialing of seven drug candidates over the past two years, demonstrating the platform's potential in accelerating drug development.
