Pharma Giants, Private Equity Firm Invest Up to $430M in AI-Powered Software Company
The Carlyle Group and several major pharma companies have moved to invest up to $430 million in Saama, an artificial intelligence (AI) clinical data and analytics firm, yet another move made by industry to tap into the potential of AI.
The company offers the Life Science Analytics Cloud, used by more than 50 pharma and biotech firms on 1,500 trials, which helps manage trial data and analytics using AI-powered apps.
For example, the system offers a Smart Data Quality app that grows smarter over time by learning from human feedback and can use natural language processing to auto-code adverse events/medications and auto-query unclassified items. Another smart app helps convert sets of data elements to Clinical Data Interchange Standards Consortium (CDISC) standards.
Amgen, Merck, Pfizer and McKesson are among the investors.