See the 14-slide presentation an AI-powered startup used to raise $25 million to upend pharmaceutical marketing
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- Drug commercialization is a labor-intensive and expensive process.
- An AI-powered startup called Odaia is looking to change that by providing real-time data analysis.
- The company said it raised $25 million from investors to scale its platform.
While artificial intelligence has started to change the way we discover and develop drugs, there’s one key part of the pharmaceutical pipeline that’s remained largely untouched by big tech advances: marketing.
That’s according to Philip Poulidis, a cofounder and the CEO of an AI-powered startup called Odaia. Odaia said on Monday that it had raised a $25 million Series B round led by Threshold Ventures and Monograph Capital. Wittington Ventures, Flint Capital, and other investors also participated in the round.
Founded in 2018, Odaia helps pharmaceutical sales and marketing teams plan their strategies and product launches through a tool that offers data analysis and market forecasts. Pharmaceutical companies use the platform to better target their drugs to the healthcare providers who prescribe the treatments to patients, simplifying what’s typically an expensive and labor-intensive process.
“AI has been applied towards improving drug discovery, improving clinical trials, but not many advancements have been applied to the commercialization process,” Poulidis said in an interview.
Even as drugs are developed faster, he added, if those therapies aren’t available to patients at the right time through their healthcare providers, that becomes a bottleneck in the healthcare system.
Poulidis told Insider that Odaia’s clients included some of the biggest pharmaceutical companies in the world. As of February, the company said, it managed 13 therapeutic products on its platform.
Odaia removed financial details from the pitch deck it used to raise its Series B round before sharing the presentation with Insider.