nference gets funding of $11 Million to develop world’s biomedical knowledge
Powered by its artificial intelligence software platform, the nference mission is to synthesize the exponentially growing biomedical knowledge.
nference aims at synthesizing biomedical knowledge with the help of AI-powered software platform. The company uses neural networks for real-time, automated extraction of knowledge from the scientific, regulatory and commercial body of literature. They have recently announced the completion of an $11 million Series A financing.
Matrix Partners, with participation from existing investor Matrix Capital Management, led the transaction. The company’s mission is to make biomedical knowledge computable while building its AI platform in order to serve as the connective fabric for various silos of information that exist across healthcare enterprises.
The funding will be eventually used for further research in R&D platforms, thereby expanding scientific operations in Cambridge MA and establish nference Labs in Bangalore, India.
Massachusetts Institute of Technology (MIT) and Harvard Medical School were chosen by company’s leading clinical, data and research scientists to gain training in research and development of biomedical knowledge. The team worked hard and collaborated with pharmaceutical partners to solve some of today’s crucial challenges including drug discovery and clinical research.
This includes the identification of emerging targets and signaling pathways for disease processes with unmet need, stratification of patients in clinical trials, and prioritization of life-cycle opportunities for drugs in development.
The research scientists at nference believe in strengthening world’s biomedical knowledge through AI-powered software platform.
Venky Sundararajan, Ph.D., Founder and Chief Scientific Officer of nference and Qrativ.,said, “Natural language is the connective fabric across all therapeutic areas and support functions of large pharmaceutical companies.” He further added, “Our AI platform leverages an ensemble of modern neural networks to decode the structure of literature.”
This kernel helps establish a concordance between context-rich unstructured corpora and deep biological insights from structured databases spanning genomics to real-world evidence. This presents a paradigm shift toward hypothesis-free scientific research and AI-augmented R&D decision-making.
Diego Miralles, MD, scientific advisor to nference and former Head of Johnson & Johnson Innovation said, “The nference AI technology is enabling an important step forward in digitizing biology. nference’s approach reimagines big pharma R&D by enabling entirely novel hypotheses to emerge from the triangulation of insights across traditionally siloed structured databases and unstructured text documents.”
This powerful platform establishes nference as a leader in the ongoing development of AI-powered drug discovery.
The Qrativ joint venture was established by nference and the Mayo Clinic last year to purpose clinically- tested therapeutic programs designed for more optimal disease processes with significant unmet need. nference is striving hard to selectively create partnerships with pharmaceutical companies and eminent healthcare organizations.
These organizations have complementary expertise and rich troves of proprietary longitudinal data sets that amplify the impact of the nference AI platform in drugs, diagnostics, and digital solutions. With the raised fund, the company is planning to expand their business operations across the globe.
Image credit: www.nference.ai