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We are pleased to announce our participation in the €9 million seed funding round of Ingenix, a healthcare AI firm developing a pioneering model for simulating clinical trials. The funding round was led by Inovo.vc, a venture capital fund focused on founders originating from the Central and Eastern Europe who are building startups around the world, with further participation from the International Finance Corporation (“IFC”).
Ingenix is a disruptive, proprietary multimodal and multiscale generative AI co-pilot for clinical development, created to enable accurate simulation of clinical drug trials. Starting at the molecular level and continuing via the cellular, tissue, and organism levels to the level of the population, Ingenix will offer a true, granular prediction of clinical endpoint values and adverse events of trials for a wide variety of drugs.
This technology is of pivotal and urgent importance to the pharmaceutical industry, which invests approximately $50 billion annually in clinical trials, yet nine out of ten pilot drugs fail to gain regulatory approval. Ingenix’s AI-driven clinical trials simulations could significantly reduce drug development time, helping pharmaceutical companies expedite this process without compromising on quality of product, for the ultimate benefit of patients.
Ingenix was co-founded by Piotr Surma and Adam Dancewicz, both bringing an impressive track record in developing and taking an AI start-up to market. Prior to Ingenix, they founded Applica, an AI-based start-up specializing in proprietary multimodal LLMs, successfully acquired by Snowflake for in 2022.
Piotr Surma, co-Founder and CEO at Ingenix, said: “The intricacies of human biology make the development of any AI technology in the pharmaceutical industry incredibly complex. However, it is possible. What Adam, myself and the team are developing could have a seismic impact not just on the way clinical trials are conducted, but on the entire sector, as it will make the drug development process predictable. The pharmaceutical industry has long been awaiting its ‘GPT moment’ and, as shown time and time again, the AI leaders of tomorrow can appear anywhere in the world so long as they are driven by intellect, creativity and a real-world focus. With the support of our new investors, we are excited to work together and fulfil the potential of Ingenix.”
Wojtek Walniczek, Partner at OTB Ventures, commented: “At OTB Ventures, we are committed to supporting groundbreaking technologies that have the potential to revolutionize industries. Ingenix’s multi-modal and multiscale approach to AI-driven clinical trial simulation stands to significantly enhance the efficiency and accuracy of drug development, changing the game for the pharmaceutical sector. The impressive track record of co-founders Piotr and Adam reinforces our confidence in their ability to execute this ambitious vision. We are eager to collaborate with Ingenix as they work to transform clinical trials and expedite the delivery of new therapies to patients.”
Welcome to the portfolio, Ingenix!
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Peregrine Communications
Alex Gorokhov / Danila Andreev
Email: otb@peregrinecommunications.com
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