Today, Readout AI is announcing it has raised its pre-seed funding. The round, led by Meridian Street Capital, with participation from Mucker Capital, Necessary Ventures, and angel investor Ryan Fukushima (COO of Tempus and CEO of Pathos), will enable the company to accelerate its product development, deepen its AI sophistication, and expand its team.
Founded by experts in both AI and pharmaceutical services, the team believes that AI will turbocharge the biostatistical and medical writing tasks associated with clinical trials.
“We are beyond excited to have secured this funding from such impactful and supportive investors,” said Matthew Michelson, PhD, CEO of Readout AI. “This investment validates our vision and the potential impact our technology can have in clinical trials.”
Readout AI’s platform automatically analyzes data with the appropriate statistics and then describes the results in formats ranging from table descriptions to abstracts to posters. The goal is to alleviate the bottlenecks associated with clinical data analysis and reporting by turning trial data into accessible, human-readable insights, in seconds.
“One application that’s often overlooked is technology to improve trial progression and performance – most people just focus on the start, patient recruiting, and at the end, final results. But Readout’s AI can also help analyze and report on progression, which is a novel improvement,” says Michael Shleifer, PhD, co-founder of Readout AI.
“Readout AI continues our thesis that AI can shift the healthcare landscape in fundamental ways,” said Scott Law, General Partner of lead investor Meridian Street Capital. “Using AI to enhance the productivity of biostatistics and medical writing will change the speed at which crucial insights come from trial data.”
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