British technology and biotech startup, Qureight, has successfully raised $8. 5 million in an oversubscribed Series A funding round. In the ever-growing field of techbio, which applies data and engineering to biotech, Qureight is making significant strides. The use of AI in biotech holds great promise, particularly in areas like drug discovery and patient care. Established in 2018, Qureight's mission is to simplify the management of complex datasets commonly used in clinical trials for pharmaceutical companies. Based in Cambridge, the startup has developed a platform that gathers and organizes various types of medical data for analysis, specifically for tackling complex lung and heart diseases in the drug discovery process. Qureight has also created an AI-based 3D image modeling platform to enhance their capabilities. Muhunthan Thillai, the cofounder and CEO, highlighted the ability to utilize AI to structure lung images as an example. By leveraging this extensive data, pharmaceutical companies can improve their analysis of clinical trial outcomes, identify drug responses, and discover new endpoints.

Furthermore, the data can be used to generate virtual patients for clinical trials. Qureight primarily serves pharmaceutical companies, including industry leaders such as AstraZeneca, as well as hospitals and clinical research organizations. The startup generates revenue through licensing fees for its platform and charges an additional rate for the use of specific tools. Despite the challenging landscape for tech companies in recent years, particularly due to the impact of the COVID-19 pandemic, investor interest in techbio and AI has remained strong. Thillai acknowledged the difficulty in navigating the funding round, but ultimately attributed its success to the company's traction and established commercial partnerships. Hargreave Hale AIM VCT led the Series A round, with participation from XTX Ventures, Guinness Ventures, and existing investors including Playfair Capital, Meltwind, Ascension Life Fund, and Cambridge Angels. Qureight plans to utilize the newly raised funds to further enhance its platform and develop additional AI-enabled tools. Additionally, a portion of the funding will be allocated towards data acquisition. To learn more about Qureight and the details of their successful funding round, you can review their comprehensive 11-slide pitch deck.