Polish biotech startup Ingenix has raised €9 million Seed funding for its development of a pioneering model for simulating clinical trials.
Ingenix is a proprietary multimodal and multiscale generative AI co-pilot for clinical development, created to enable accurate simulation of clinical drug trials.
Starting at the molecular level and continuing via the cellular, tissue, and organism levels to the level of the population, Ingenix will offer a true, granular prediction of clinical endpoint values and adverse events of trials for a wide variety of drugs.
The pharmaceutical industry, which invests approximately $50 billion annually in clinical trials, yet nine out of ten pilot drugs fail to gain regulatory approval.
Ingenix’s AI-driven clinical trials simulations could significantly reduce drug development time, helping pharmaceutical companies expedite this process without compromising on quality of product, for the ultimate benefit of patients.
Ingenix was co-founded by Piotr Surma and Adam Dancewicz, both bringing an impressive track record in developing and taking an AI start-up to market. Prior to Ingenix, they founded Applica, an AI-based start-up specialising in proprietary multimodal LLMs, successfully acquired by Snowflake for in 2022.
According to Piotr Surma, co-founder and CEO at Ingenix:
“The intricacies of human biology make the development of any AI technology in the pharmaceutical industry incredibly complex. However, it is possible.
What Adam, myself and the team are developing could have a seismic impact not just on the way clinical trials are conducted, but on the entire sector, as it will make the drug development process predictable.
The pharmaceutical industry has long been awaiting its ‘GPT moment’ and, as shown time and time again, the AI leaders of tomorrow can appear anywhere in the world so long as they are driven by intellect, creativity and a real-world focus.”
Inovo.vc led the funding round, with further participation from OTB Ventures and the International Finance Corporation (IFC).
Wojtek Walniczek, Partner at OTB Ventures, commented:
“At OTB Ventures, we are committed to supporting groundbreaking technologies that have the potential to revolutionise industries.
Ingenix’s multi-modal and multiscale approach to AI-driven clinical trial simulation stands to significantly enhance the efficiency and accuracy of drug development, changing the game for the pharmaceutical sector.”
Krzysztof Przybylak, Principal at Inovo.vc, noted:
"Ingenix is tackling a research challenge that is both ambitious and complex. At this stage of investment, the only thing that truly matters is the team.
Very few teams worldwide are capable of addressing this problem, but after nearly a year of collaboration with Piotr and his team, we had no doubt that Ingenix is one of them—and that we should lead this round."
Lead image: Freepik.
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