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PRESS RELEASE 10/11/2022
New York, USA, HealthTech venture firm Eckuity has invested in Sonrai Analytics, a Northern Irish innovator in Artificial Intelligence (AI) data discovery that accelerates biomarker discovery, development and deployment for biotech and pharma organisations.
The discovery of new biomarkers has become increasingly difficult in the modern era, where more sensitive detection methods generate outputs in increasingly large volumes. Now spread across many disease areas of focus and by differing analytes, it impedes timely and efficient translation. Research teams in drug trials and other healthcare contexts spend more than 45% of their time transforming information from disconnected data sets.
The Sonrai platform applies AI and deep learning to unlock critical information contained in big data to enable biotech and pharma organisations to collaborate, filter and transform datasets in real time. It provides context and confidence to downstream users of the data, increasing its utility, robustness and, therefore, its value to the organisation. Most importantly, this leads to quicker and more effective treatments and cures for cancer and other diseases with poor clinical outcomes.
By improving outputs, assays and findings and redirecting vital resources to other areas of the business, Sonrai helps to speed-up and strengthen their pipeline, enhance their IP, and get their products to market faster.
“We have rapidly enhanced our product and services by understanding our customer’s challenges and meeting their expectations. This additional capital further strengthens our commercial aspirations and allows us to diversify our market segments,” said Dr Darragh McArt, Founder and Chief Executive Officer of Sonrai Analytics. “We are delighted to have Eckuity join our team as we accelerate opportunities in the US and to provide advice and support as we progress the business.”
“Research companies and organizations are already sitting on a treasure trove of data, if only they could access it in a way that is easy to view and simple to interrogate”, said Mark Goldstone, Partner at Eckuity. “Sonrai incorporates data visualization and predictive analytics into workflows to accelerate organizational processes, improve performance and unlock corporate value. We are very excited about the impact that Sonrai will have on the market.”
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About Eckuity
Eckuity is a leading global venture capital investor. Eckuity actively invests in early-stage life sciences, healthcare and tech companies that can deliver a strong positive impact on healthcare outcomes, wellness, and enhancement of the human condition. Based in New York, London and Paris, the firm brings together a team of global investment professionals with strong scientific, medical, and business expertise. Eckuity actively partners with ambitious entrepreneurs to create value and accelerate success.
For additional information, please visit: eckuity.com
About Sonrai Analytics
Sonrai Analytics was founded in 2018 by Dr Darragh McArt and Dr Deva Senevirathne as a technology start-up within Healthcare and Precision Medicine domains. Through its AI data analytics platform and services, Sonrai streamlines precision medicine organisations' ability to identify, validate and productise novel biomarkers, treatments, or clinical algorithms with life-saving potential.
The company recently announced a seed plus funding round of £2.175 million to accelerate the global adoption of its technology. This added investment will help Sonrai reach more companies globally to translate precision medicine’s complex multi-omics data into real insights leading to better-personalised treatments for patients.
Sonrai Analytics has successfully placed its platform with key healthcare businesses across the EU and the US and is entering further key partnerships that will scale operations commercially.