Saama Technologies, Inc. (“Saama”), a leading clinical data analytics platform firm, announced on 3/25/19 that it has closed a $40 million financing with Perceptive Advisors. The new funding will be used to support the expansion of Saama’s Life Science Analytics Cloud (LSAC), an AI-powered platform disrupting the planning, designing and conduct of clinical trials across various stages of clinical development. LSAC seamlessly ingests, integrates, curates, and harmonizes clinical trial operational and patient data from proprietary and external data sources to deliver actionable, regulatory-ready insights. LSAC’s novel deep learning approach significantly compresses clinical program timelines from clinical plan development to submission judgment for a New Drug Application (NDA).
“The pharmaceutical industry, patients, advocacy groups, and global regulatory agencies are all eager for innovations that rapidly accelerate clinical trials while driving down costs. We are excited to lead that change with a differentiated data analytics platform. We intend to use the proceeds of this financing to strengthen our ecosystem of pharma and biotech partners, academia, data providers and CROs, and build a suite of collective innovations leveraging our award-winning LSAC platform,” said Suresh Katta, Founder and CEO of Saama Technologies. “Perceptive Advisors understands the dynamic clinical development space and the need for adopting leading-edge technological solutions for enabling our pharma and CRO partners to drive sustainable and breakthrough clinical innovation.”
The new financing brings the total Saama has raised since 2015 to $75 million. Torreya Partners served as financial advisor to Saama in conjunction with this transaction.