Healthcare data company ConcertAI announced its expanded partnership with Caris Life Sciences, where the companies will jointly create a database to generate insights to advance precision medicine, clinical trial management and therapeutic development.
ConcertAI is a real-world data and AI company for healthcare providers and life science companies, while Caris Life Sciences offers whole exome and whole transcriptome sequencing that uses AI modeling in its clinico-genomic database to help researchers comprehend the molecular complexity of diseases.
The partners will develop a database – leveraging both companies’ clinical, molecular and multimodal data – to allow academics and biopharma researchers to gain insights for oncology-focused precision medicine, clinical trial management and therapeutic development.
“By building novel research assets at population scale, integrated with leading technologies and talent, we can partner with both academic researchers and biopharma innovators to accelerate new insights into the underpinnings of cancer biology, rapidly translate these insights to the clinic, and enable novel clinical development approaches,” Dr. Jeff Elton, CEO of ConcertAI, said in a statement.
“Ultimately, the facilitation of broad-based access to data of this depth and scale, beyond most public or private initiatives, will aid all cancer patients, especially those underserved with few current therapeutic options available to them.”
THE LARGER TREND
Caris Life Sciences and ConcertAI initiated their partnership in January to join the two companies’ oncology capabilities to advance therapeutic research and drug development.
ConcertAI is part of SymphonyAI, a larger artificial intelligence company spanning other business sectors like retail and finance. In 2020, it acquired imaging AI offering TeraRecon, which is now branded as a ConcertAI company.
The company has formed numerous partnerships over the years. It teamed up with Janssen Research & Development to improve study design and diversify clinical trials, and with Bristol-Myers Squibb and Pfizer to support research on precision oncology treatments.
Both companies have garnered massive investments over the past several years. ConcertAI, formerly Concerto HealthAI, scored $150 million in Series C funding in 2022, just two years after it closed $150 million in aggregate Series B financing.
Caris Life Sciences secured $400 million in debt financing in January, bringing its total raise to over $1.7 billion in capital. In 2021, the company scored $830 million in growth equity capital, and in 2020, received a $235 million equity investment.
