17-05-2025
Exclusive: PhaseV raises $50M Series A to optimize clinical development
PhaseV, a clinical trial and development software startup, raised a $50 million Series A, CEO Raviv Pryluk tells Axios exclusively.
Why it matters: Pharma's need for efficient clinical trials has never been more stark amid FDA upheaval.
Pryluk declined to disclose PhaseV's valuation.
Follow the money: Accel and Insight Partners led, joined by existing investors Viola Ventures, EXOR and LionBird.
PhaseV has ambitious development goals and "will probably raise again in two to three years from now — and that Series B will be substantial," Pryluk says, telling Axios its next funding round could broach three digits.
Boston-based PhaseV has raised $65 million since being founded in 2023.
How it works: PhaseV is developing AI and machine learning algorithms to accelerate clinical trials and drug development.
Its platform aims to help with clinical trial site selection and trial design, and it is being further developed to support clinical trial recruitment and operations, and causal disease modeling.
PhaseV has 30 global biotech clients and seven large pharma customers, Pryluk says.
What they're saying: "We can now support most of the pivotal decisions that pharma companies need to make during clinical development," Pryluk says.
"Whether it's finding the right dose, right indication, right patient population or even the design of the trial as well as dealing with massive amounts of data."
Friction point: Patient recruitment is becoming increasingly difficult, heightening demand for technology solutions to ease that burden.
"PhaseV is coming up from the other side, saying that if we can be even smarter about how we design the study, we can reduce the number of patients you need by 20% or 30% on day one," Accel partner Matt Robinson says.
Stunning stat(s): It can take more than 10 years to get a new drug to market — and clinical development has a 90% failure rate on average.
The bottom line: "If there's one thing that we've learned, it's that our clients want a vertical solution, not a point solution," Pryluk says.
