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June 22, 2021updated 05 Jul 2021 1:03pm

BEKHealth receives funds to boost AI clinical research

BEKHealth will use the proceeds to extend its team and meet the growing demand from clients.

BEKHealth, a venture-backed company, has secured funding to bolster access to its artificial intelligence (AI)-driven clinical research software platform.

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The $4m financing round was led by venture capital firm Excelerate Health Ventures and joined by its consortium partners Boston Millennia Partners, Connecticut Innovations, and Martin Ventures.

Change Healthcare also participated in the round as a strategic commercial partner.

BEKHealth will use the proceeds to expand its team and meet the growing demand from healthcare and clinical research organisations.

The company’s clinical research software platform is powered by AI models that integrate about 400 different medical libraries and 70,000 research protocols with an interoperable clinical data model.

To help sites and clinical research organisations with quick patient enrolment, BEKHealth combines its AI-driven electronic medical record (EMR) data processing engine with easy workflow tools.

BEKHealth founder and CEO Jason Baumgartner said: “For years, clinical research sites, research personnel, and trial participants have been underserved by aging technology, cumbersome workflows, and poor and untimely access to critical data.

“By leveraging a unique combination of machine learning and directly integrating EMR data, BEKHealth is helping researchers bring lifesaving and life-extending therapies more quickly to the patients who need them.

“With support from our new investment partners, we’ll be able to expand these efforts on a much larger scale.”

The company’s growth is driven by the adoption of technology and analytics in the clinical research and healthcare areas.

Furthermore, the rise in virtual healthcare settings where doctors and clinical staff must coordinate research on time and safely, also supported BEKHealth’s growth.

Change Healthcare plans to work with BEKHealth to aid healthcare providers by matching their patients to trials for enhancing access and increasing treatment options.

Last week, Informa Pharma Intelligence introduced an AI-based platform called Citeline Study Feasibility to expedite clinical trial decisions and timelines.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
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