AiCure’s client base sees uptick as the industry looks to reduce risk
By Maggie Lynch
December 12, 2018
After a significant client increase, the behavioral data platform saw revenue growth that more than a doubled year-over-year from 2017.
Adam Hanina, co-founder, and CEO of AiCure told us the company uses artificial intelligence (AI) to “see and hear how patients are responding to treatment.”
The company works directly to pharmaceutical companies and contract research organizations (CROs) to deploy the technology.
By expanding its client list by 30% since 2017, Hanina told us the platform is creating a lot of scientific data and life science companies are intrigued. “When you’re a scientist developing a clinical research program you want to do everything to reduce risk in your trial, and a major risk is having a disconnect, or data chasm around patients who are receiving treatment, so, we reduce risk through our AI technology.”
AiCure, according to Hanina, is an engagement platform that uses visual recognition technology, or computer vision technology, and deep learning neural networks to ensure that patients are receiving treatments.
“I think the fundamental need within clinical research is to reduce risk,” Hanina said. “We see 20% to 30% of clinical trials fail because patients are just not taking the investigational medication in their clinical trials.”
The platform works “in the same way that a nurse or a study coordinator may interact with a patient,” however, the platform operates from a smartphone measuring different data to perceive if the patient is receiving treatment and how they are responding to it.
Hanina explained that AI’s potential to modify behavior in order to reduce medical costs is critical. “AI has the ability to offer a massive capacity to the health care system that was once not available,” he said.
The company also has recently added members to its board of directors. Edward Ikeguchi, formerly co-founder and chief medical officer of Medidata, joined AiCure as the chief medical officer. Isaac Galatzer-Levy also joined the company serves as vice president of clinical and computational neuroscience and director of AiCure Labs.
Jindra Zitek and Gary Velaquez also joined the company as chief operating officer and a member of the board of directors, respectively.