Biolevate secures EUR 6 million in seed funding from EQT Ventures to accelerate healthcare innovations

Biolevate

Nov 26, 2024

Biolevate, a Paris-based start-up founded in 2023, has raised 6 million euros to develop ELISE, an artificial intelligence platform dedicated to the management and creation of scientific documents in the pharmaceutical industry. This solution aims to optimize document production, reduce time-to-market for treatments and guarantee regulatory compliance. The funding round, led by EQT Ventures, will enable Biolevate to expand its team and strengthen ELISE's technological development.

Sustainable Healthcare Practices

Artificial Intelligence

Future of Healthcare

Biolevate Raises €6 Million to Revolutionize Medical Writing with AI

Biolevate, a Paris-based health-tech startup, has successfully secured €6 million in seed funding to accelerate the development of its AI-assisted medical writing platform. The funding round was led by EQT Ventures, with participation from other investors

Tackling industry challenges: Innovative solutions for a changing landscape

The company aims to tackle significant hurdles in the pharmaceutical industry:

Medications can take up to 15 years to become available
90% of biotech and research initiatives fail due to regulatory issues
Effective treatments risk missing authorization renewals

Biolevate's solution addresses the growing shortage of skilled medical writers and the highly manual, labor-intensive process of creating regulatory documents

Biolevate's proprietary platform, ELISE*, leverages advanced AI technologies including: Natural Language Processing (NLP):

Computer vision
AI-assisted writing
The platform offers:
Optimization of research and compliance document creation and management
Guidance for writers through materials
Reduced time and effort for understanding and correcting documentation3

Leading with purpose at Biolevate: Crafting a vision that inspires

Biolevate was founded by a team of AI and healthcare veterans:

Joel Belafa (CEO) : An experienced entrepreneur and AI consultant, previously Director of Engineering at Dataiku.
Nathan Chen (COO) : Expert in managing finance, performance, and sales/distribution, with experience at Coloplast.
Anas Laaroussi (CTO) :A software engineer with a strong background in data science and full-stack development, formerly at Dataiku.
Antoine De Torcy (CPO) : Expert in AI, data science, and product management, he previously held the position of Business Solutions Manager at Dataiku.
Florence Armstrong, PhD (Head of Science) : Experienced in managing and coordinating scientific research projects, focused on fostering collaboration and innovation in the healthcare field.

CEO Joel Belafa emphasizes the company's mission: "Our mission is to bring patients' hopes to the market"

Cultivating investor confidence: A roadmap to sustainable investment

Julien Hobeika, Partner at EQT Ventures, highlighted the significant potential of Biolevate's solution: "There's a significant opportunity in making medical writing more efficient using AI, and the team at Biolevate offers an impressive solution to transform medical documentation processes into a seamless and effective procedure that supports innovation and drives scientific breakthroughs benefiting society."

This endorsement from a leading venture capital firm underscores the transformative potential of Biolevate's technology in addressing the growing challenges in medical documentation and regulatory compliance.

Future Prospects

With this new funding, Biolevate is well-positioned to further develop its platform and expand its reach in the healthcare technology sector. The company's innovative approach to streamlining medical writing processes has the potential to significantly impact the speed and efficiency of bringing new therapeutic products to market, ultimately benefiting patients worldwide.

*ELISE : 𝗘levate 𝗟𝗜fe Scienc𝗘

References

For further insights, we recommend exploring these reference articles that have shaped the foundation of our approach at Biolevate. https://techcrunch.com/2024/11/25/biolevates-raises-e6m-to-helps-medical-writers-keep-up-with-the-pace-of-new-drugs/

Reel IT Groupe and Biolevate join forces to transform unstructured data management.

December 18, 2024

BIOLEVATE NEWS