August 10, 2021 + Jessica Di Palo
3 Min read
Investment led by MTIP enables the company to reduce the risk of clinical research, improve R&D productivity, and accelerate scientific breakthroughs through artificial intelligence (AI) and natural language processing (NLP).
MTIP is delighted to announce MTIP Fund II’s fourth investment in Intelligencia, whose AI-driven software platform enables pharmaceutical and biotechnology companies to revolutionize the drug development process and reduce risk. The closure of an oversubscribed $12M investment round was led by MTIP. Other investors include Big Pi Ventures, Synetro Group, as well as several of the company’s existing investors. ZS, a global professional services firm, has also participated in this round.
The company’s founders, Dimitrios Skaltsas and Vangelis Vergetis, met while at McKinsey & Company, and have spent more than a decade in the intersection of clinical development, data science, and technology solutions. Forbes recently included Intelligencia in their list of “America’s top 50 most promising AI companies”.
Intelligencia is an AI-driven technology company that focuses on minimizing the risk of drug development and enabling external innovation. It currently works with top-10 and mid-size global biopharmaceutical companies, smaller biotechs, prominent research centers, as well as investors in the biopharmaceutical space. With a focus on increasing R&D productivity, the company offers a suite of decision-making support solutions that enable its customers to minimize the risk of drug development, as well as streamline productivity and lower cost. Its platform allows customers to:
The company currently employs more than 40 people across the company’s headquarters in New York and the R&D center in Athens, Greece. The proceeds from this round will expand its R&D team in Athens, grow its sales and customer success teams in the US and in Europe, as well as allow it to work even more closely with customers and partners as they seek to incorporate their private/proprietary data into the company’s models.
“As we continue to aggressively expand Intelligencia’s business, we are privileged to have the support and guidance of industry veterans and company builders alike”, says Vangelis Vergetis. “Our aim has always been to make a difference when it comes to the incredibly risky business of drug development, and this funding round will allow us to continue to expand our product offering, our proprietary data, and our customer base.”
Danchen Zhao, who joins the Board of Directors on behalf of MTIP, said: “We see Intelligencia as an innovation leader in ML-based predictive analytics, offering actionable insights to life science organizations. We are impressed by their complementary team of data scientists, biologists and software engineers, that together continuously improve and expand their platform.” Dr. Christoph Kausch continued: “At MTIP, we see great potential in Artificial Intelligence and Machine Learning in the Life Science vertical. Intelligencia’s platform enables faster and more efficient drug development and helps to improve the success rate of novel therapies. This investment aligns with our philosophy of supporting innovation that enhances patients’ quality of life and life expectations across therapeutic areas.”
“Increasingly, innovation in science and R&D requires technical expertise,” said Pratap Khedkar, CEO of ZS. “We are committed to supporting and partnering with innovative companies like Intelligencia to drive the adoption of next-generation technical capabilities – and robust data-driven decision making – for the biopharmaceutical industry.”
Dimitrios Skaltsas, talking about the team behind building a software product that is centered around specific customer needs, says: “Our fuel has been our unique knowledge graph, built on expertly curated data and ontologies. Equally, what has been crucial and much rewarding in our journey is bringing together a high-octane interdisciplinary team with both hard and soft skills, as well as constantly evolving with the direct input from our users at major organizations and cutting-edge biotech companies.”
For more information please contact:
Jessica Di Palo
Head of Marketing and Communications at MTIP
Phone: +41 61 551 12 50
Intelligencia is an AI-driven technology company that focuses on minimizing the risk of drug development and enabling external innovation. It transforms how R&D and Business Development executives think about and assess the risk of clinical development programs and enables them to make more informed and data-driven decisions as they evaluate their own pipelines and/or external opportunities. Visit our website www.intelligencia.ai.
MTIP is a healthtech growth capital investor based in Basel, Switzerland. It invests in digital health and digitally-connected medical device companies, with offerings that provide clear health-related economic benefits. Its entrepreneurial investment team, which has complementary private equity skills and exceptional deal-making capabilities, actively works with portfolio companies to boost growth. MTIP efficiently deploys capital to unlock value and generate attractive returns for our investors. Visit www.mtip.ch to learn more.
ZS is a professional services firm that works side by side with companies to help develop and deliver products that drive customer value and company results. We leverage our deep industry expertise, leading-edge analytics, technology and strategy to create solutions that work in the real world. With more than 37 years of experience and 10,000-plus ZSers in 28 offices worldwide, we are passionately committed to helping companies and their customers thrive. To learn more, visit www.zs.com.
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