New Insurance Model Could Transform Clinical Trial Financing
A novel initiative by Medical and Commercial International Limited (MCI) and GATC Health Corp, supported by Lloyd's of London, promises to improve clinical trial funding through innovative insurance coverage.
Medical and Commercial International Limited (MCI), a specialized liability underwriting company in London, has partnered with GATC Health Corp, a technology company utilizing artificial intelligence for drug discovery, to launch a program that provides insurance coverage for clinical trial funding in case of trial failure. Approved by Lloyd's of London, this initiative aims to mitigate financial risks in medical innovation and research significantly.
Leveraging GATC Health's proprietary AI technology, which forecasts clinical trial endpoints, this new insurance model is set to support the growth of therapeutic drug development. The program offers a solution to the financial challenges faced by biotech entrepreneurs and investors in securing funding for drug development projects without diluting equity or compromising company control.
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The program, bolstered by GATC Health's AI technology, addresses a critical market need. John Stroh, CEO of GATC Health, emphasized their goal of transforming the drug development financial model. "Through our relationship with MCI and the backing of Lloyd's, we aim to bring safer and more effective treatments to those suffering from acute medical conditions," Stroh stated. The initiative has already received strong interest from biotech companies and large brokerage firms.
GATC Health's Multiomics Advanced Technology™ (MAT) platform is central to this initiative. Utilizing AI and machine learning, the MAT platform simulates complex human physiology to predict novel pharmaceuticals' efficacy, safety, and off-target impacts. This technology increases the likelihood of clinical trial success, as demonstrated by the discovery and testing of seven drug candidates within two years.
Topics: Clinical Trials
