Israeli startup PhaseV has raised US$50 million in a series A funding round co-led by Accel and Insight Partners.

Other investors included Viola Ventures, EXOR, and LionBird, bringing the company’s total funding to US$65 million.

The funding will fuel the expansion of PhaseV’s AI platform, which focuses on improving clinical trial design and execution.

The platform aims to reduce costs and timelines for pharmaceutical firms.

CEO Raviv Pryluk highlighted that traditional clinical trial methods are becoming less efficient, positioning AI as a key tool to enhance the trial process.

With over 30 global customers, PhaseV is poised to reshape drug development through innovative AI solutions.

🔗 Source: Calcalist

🧠 Food for thought

1️⃣ Clinical trials have evolved dramatically over centuries, making AI integration the next logical milestone

Today’s AI innovations in clinical trials build upon a centuries-long evolution of increasingly rigorous scientific methodology.

The first recognized controlled clinical trial dates back to 1747 when James Lind tested treatments for scurvy among sailors, finding that citrus fruits were most effective 1.

While the first randomized controlled trial (RCT) didn’t emerge until 1946 with the UK’s streptomycin study for tuberculosis, it established the foundations of modern trial design including randomization and allocation concealment 1.

These methodological advances have continually addressed efficiency challenges, but progress has been incremental until now. The traditional clinical trial approach still requires 10-15 years and billions in investment to bring drugs to market.

PhaseV’s vertical AI approach represents a progression in this evolution, targeting the specific bottlenecks that have persisted despite centuries of methodological refinement.

2️⃣ AI in drug development is rapidly growing from niche technology to industry standard

PhaseV’s funding comes amid rapid growth in pharmaceutical AI adoption, with the global AI in drug discovery market projected to grow from $1.72 billion in 2024 to $8.53 billion by 2030 – a 30.59% compound annual growth rate 2.