Biolevate’s raises €6M to helps medical writers keep up with the pace of new drugs
Nov 27, 2024
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Discover how a Paris-based company secured €6M to revolutionize medical writing. The labor-intensive process of documenting drug development is addressed, unveiling a platform that leverages natural language processing. This innovative solution aims to ease the backlog and enhance the efficiency of skilled medical writers, tackling industry challenges head-on. Tune in to learn how technology is streamlining pharmaceutical documentation!
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Quick takeaways
Biolevate's platform utilizes NLP and visual document reading to streamline the labor-intensive medical documentation process in drug development.
The company secured €6M in funding, highlighting both the investment potential and adaptability of their approach to improving medical writing efficiency.
Deep dives
Advancements in Medical Writing Efficiency
The development of new drugs requires extensive documentation, a process that is traditionally labor-intensive and lacks modern software solutions. BioLevitt is addressing this challenge with a platform that leverages natural language processing (NLP) and visual document reading to enhance the efficiency of medical writers. Co-founders Joel Belafa and Nathan Chen highlighted their shared frustrations with the slow pace of research, development, and market access in the biotech industry, which adversely affects patient outcomes and the economy. Their platform, ELISE, acts as an AI assistant, optimizing the creation and management of essential research and compliance documents, thus significantly alleviating the administrative burdens faced by pharmaceutical companies.
Potential for Broader Applications
BioLevitt secured 6 million euros in seed funding to further its mission, emphasizing a significant opportunity to transform medical documentation processes through AI. Investors like EQT Ventures recognize the potential for innovation in medical writing, aiming to make it more seamless and effective. The founders also expressed a flexible approach to their strategy, indicating that if their current model does not succeed, they will consider commercializing the platform for other industries or offering their technology as an API. This adaptability could open new avenues for revenue while continuing to drive advancements in drug discovery and medical writing efficiency.
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Innovative Solutions for Medical Writing in Drug Development
Writing the documentation that must go alongside the development of new drugs is a highly labor-intensive process: not much software is used and there’s a shortage of expert writers. Paris-based Biolevate helps medical writers go faster with a platform that uses NLP and visual document reading to assisting in writing.