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Roivant Sciences, a pharmaceutical company based in Basel, has founded a new subsidiary: Datavant. The company will use artificial intelligence in data analysis to improve the clinical trial process and drug development.
Datavant will analyse data compiled from patient visits, a press release by Roivant Sciences reveals. The company already has data sets from 20 million such visits. Detailed analysis of this data will improve the design and operations of clinical development programmes. As a result, the likelihood of success will be increased, while time and cost will be reduced, the Basel-based company explains.
Datavant will be led by CEO Travis May, who has gathered extensive experience in the technology industry working in Silicon Valley. He was the co-founder and CEO of LiveRamp, which offers data onboarding solutions for personalised marketing and was sold to U.S. marketing company Acxiom for USD 310 million in 2014. “As a technologist looking at the biopharma industry, it’s surprising and disconcerting how little data is shared as compared to other industries,” Travis May is quoted the press release. “There is tremendous potential to apply analytics to this data more effectively, improve drug development, and ultimately save lives.”
Roivant Sciences and its subsidiaries are supported by BaselArea.swiss as they establish themselves in Basel. The company was recently able to secure investment of USD 1.1 billion through a funding drive led by the SoftBank Vision Fund. Founders Fund was among the contributors. “We are impressed by Roivant's bold vision for transforming healthcare, and see Datavant as an integral part of that vision,” said Founders Fund partner Brian Singerman.