Connect with us

Business Wire

Deep 6 AI Raises $17M Series A Led by Point72 Ventures to Accelerate Clinical Trial Recruitment

Business Wire

Published

on

Reading Time: 3 minutes

PASADENA, Calif.–(BUSINESS WIRE)–Deep 6 AI, the leading provider of clinical trials acceleration software, announced today that it has raised $17M in Series A funding led by Point72 Ventures, with GSR Ventures and strategic partners participating. The investment will build the company’s capacity to meet demand from healthcare providers, pharma companies, and contract research organizations for the company’s suite of AI-driven tools designed to accelerate and optimize clinical trials design, recruitment, and management.

Tens of thousands of clinical trials are registered with the FDA each year to evaluate new therapies, but many of them fail to identify and recruit enough patients in a timely manner to clinically validate the efficacy of the treatment under study. The process of evaluating patients against a trial’s complex recruitment criteria is extremely time-consuming and inefficient, requiring full-time staff dedicated to combing through patient records, one at a time. As a consequence of this inefficiency, over 85% of trials are delayed and many trials ultimately fail due to poor recruitment.

We see clinical trials recruiting as a place where a data and AI-driven approach holds tremendous promise in accelerating life-saving research,” said Point72 Ventures partner Daniel Gwak. “Deep 6’s track record in accelerating clinical trials through improved patient recruitment and trial design has resonated strongly with major healthcare providers and trial sponsors, who recognize Deep 6 as the clear leader in this field. We are excited to support them in scaling up to meet demand as more organizations recognize the need for and value from Clinical Trials Acceleration software.” As part of this investment, Daniel Gwak will join the Deep 6 AI Board of Directors.

Trial delays come at a great financial cost — each day of delay potentially costs trial sponsors millions of dollars in lost revenue — as well as a personal cost, as patients cannot access the most innovative care. Deep 6 uses AI to parse clinical trial qualification criteria and match against repositories of structured and unstructured patient health data at participating trial sites. This allows teams running clinical trials to identify and review qualified patients in a matter of minutes. It also allows trial sponsors and healthcare providers to know in advance where to find qualified patients before they invest in activating trial sites and recruiting patients.

We are very excited to partner with Point72 Ventures to pursue our vision to build the leading global clinical trials acceleration software platform. Point72 Ventures’ emphasis on backing best-in-class category leaders validates Deep 6’s reputation as the product and technology leader in this new industry,” said Deep 6 AI CEO, Wout Brusselaers. “Their investment will allow us to rapidly scale up to meet the high demand for our software, as health systems recognize the significant opportunity from leveraging AI to turn their research efforts into a growth and profit center.”

Deep 6 AI’s customers today include Cedars Sinai Medical Center and Texas Medical Center, among several other large health systems across the U.S., in addition to a number of large life sciences companies, medical device companies and contract research organizations. The company will use the proceeds from the raise to accelerate the growth of its network of leading healthcare providers and trial sponsors and keep expanding its suite of innovative, AI-native software products.

ABOUT DEEP 6 AI

Using artificial intelligence on medical records, Deep 6 AI finds more, better-matching patients for clinical trials in minutes, not months, getting life-saving cures to patients more quickly. Deep 6 AI also helps sponsors and CROs with better trial feasibility design, site selection, real-time analysis of study results, and improved trial response rates, from selecting better-matching trial subjects. Deep 6 AI is a Techstars, StartX, and TMCx alum and is currently in use by leading hospitals, such as Cedars-Sinai Medical Center, the Texas Medical Center, and other research institutes, life sciences companies and CROs. The company was founded in 2015 and is based in Pasadena, CA. Learn more at https://deep6.ai

ABOUT POINT72 VENTURES

Point72 Ventures is a global venture capital firm led by a diverse set of domain experts with the capital to lead rounds through all stages of company growth. The firm invests primarily in Fintech, AI/ML, and Enterprise technologies. As an independent arm of Point72, the global asset management firm led by Steven A. Cohen, Point72 Ventures offers well-informed insights into the global economy. Point72 Ventures has offices in New York City, Palo Alto, San Francisco, and Stamford, Connecticut. For more information, visit: http://p72.vc/

Contacts

Media:

Emily Hossellman

VP of Marketing

Deep 6 AI

emily@deep6.ai
714-883-5217

Tiffany Galvin-Cohen

Director, Media Relations

Point72 Ventures

Tiffany.galvin-cohen@point72.com
203-890-2052

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

For the last half century, thousands of communications professionals have turned to us to deliver their news to the audiences most important to their business through the sources they trust most. Over that time, we've gone from a single office with one full time employee to more than 500 employees in 32 bureaus.

Business Wire

Shortages of Low-Skill, Middle-Skill, and High-Skill Workers Causing Revenue Declines and Other Headaches for Employers, TrueBlue’s Latest Study Finds

Business Wire

Published

on

Reading Time: 2 minutes

TACOMA, Wash.–(BUSINESS WIRE)–While there has been a lot of discourse around the shortage of high-skill workers in the U.S., a new study by staffing giant TrueBlue shows a significant percentage of employers are also struggling with deficits in low-skill and middle-skill workers – and dealing with a host of business challenges as a result.

According to TrueBlue’s nationwide survey, which included nearly 1,500 managers (HR, operational, and business), skills shortages are widening across skills categories:

  • 32% of managers can’t find workers to fill low-skill positions (generally classified as those that may or may not require a high school diploma and require little to no experience)
  • 46% can’t find workers for middle-skill jobs (typically require some experience and continuing education such as college courses, an apprenticeship or certification, but don’t necessarily require a four-year college degree)
  • 35% can’t find workers for high-skill jobs (typically require a four-year degree or higher and specialized experience)

Low unemployment coupled with globalization, accelerated technology advancement, and evolving work models are creating talent deficits across all skill levels within organizations,” said Patrick Beharelle, CEO of TrueBlue. “The skills supply is not keeping up with demand, which is fueling a greater intensity in an already competitive labor market and adversely impacting productivity, service quality, and revenue growth for businesses.”

Impact of Talent Shortages on Businesses

The top three business challenges managers are experiencing due to prolonged job vacancies within their organizations include:

  • Quality – More than a third of managers (35%) reported that extended job vacancies have caused lower product or service quality.
  • Turnover – 25% have seen higher employee turnover.
  • Revenue – 23% said their companies experienced a decline in revenue.

To address talent shortages and minimize associated business impact, 2 in 5 companies (41 percent) reported that they plan to raise compensation for entry-level workers and nearly half (46 percent) plan to train and hire the long-term unemployed in the coming year.

Survey Methodology

This SurveyMonkey survey was conducted online in the U.S. by TrueBlue between September 23 and October 15, 2019. It included 1,499 managers (HR, operations and general). The survey was across regions, industries, and company sizes.

About TrueBlue

TrueBlue (NYSE: TBI) is a global leader in specialized workforce solutions that help clients achieve business growth and improve productivity. In 2018, the company connected approximately 730,000 people with work. TrueBlue’s PeopleReady segment offers on-demand industrial staffing services, PeopleManagement offers contingent and productivity-based, on-site industrial staffing and driver staffing services, and PeopleScout offers recruitment process outsourcing (RPO) and managed service provider (MSP) solutions to a wide variety of industries. Learn more at www.trueblue.com.

Contacts

Jennifer Grasz

Vice President, Corporate Communications

jgrasz@trueblue.com
(312) 840-6327

Continue Reading

Business Wire

Law Firm of Estey & Bomberger Reports: Uber Says Nearly 6,000 Rapes, Sexual Assaults Occurred in Two-year Period

Business Wire

Published

on

Reading Time: < 1 minute

SAN DIEGO–(BUSINESS WIRE)–The law firm of Estey & Bomberger reported today that Uber’s long-awaited sexual assault report was released Dec. 5, with the ride-hailing company admitting that 5,981* passengers and drivers were raped or sexually assaulted between 2017-2018.

“I applaud Uber for releasing the data that acknowledges there is a problem with sexual assaults occurring in rideshare. While we believe these assaults were preventable, Uber’s report represents a tremendous step for ride-hailing safety,” said Estey & Bomberger attorney Mike Bomberger. “I think there are many positive measures Uber is taking. However, Uber still has an obligation to help the victims who have been raped and assaulted and facing a lifetime of emotional pain. They will need ongoing therapy.”

Estey & Bomberger represents more than 100 ride-hailing sexual assault victims.

“It’s important to remember when reading this report that only one in three women report their sexual assault,” Bomberger said. “Therefore, the number of women who have been sexually assaulted is certainly much higher than reported here.”

Bomberger reiterated his call for all ride-hailing trips to be digitally recorded.

“We’re pleased that Uber is now testing cameras in Texas. That’s the real solution to this problem – if drivers know they’re being recorded they won’t rape and assault,” Bomberger said.

Estey & Bomberger is asking Lyft and Uber sexual assault victims, along with former employees of the ride-sharing firms, to contact its office by calling 866-964-1708 or emailing info@lyftsexualassaultlawyers.com.

*statistic courtesy NPR “Uber Received Nearly 6,000 U.S. Sexual Assault Claims in Past 2 Years,” Dec. 5, 2019.

Contacts

for Estey & Bomberger

Ed Vasquez, 408-420-6558

ed@ejvcommunications.com

Continue Reading

Business Wire

Best’s Market Segment Report: AM Best Maintains Global Reinsurance Market Outlook at Stable

Business Wire

Published

on

Reading Time: 2 minutes

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has maintained a market segment outlook of stable on the global reinsurance industry for 2020, citing a stabilized pricing environment — albeit at levels below long-term adequacy — the continuing alignment between traditional and third-party capital and ongoing stability in the global life reinsurance segment.

A new Best’s Market Segment Report, titled, “Market Segment Outlook: Global Reinsurance,” states that although rates in the non-life reinsurance market have improved modestly, pricing has not kept adequate pace with the changing risk dynamics, as illustrated by loss development from events such as hurricanes Irma and Maria and Typhoon Jebi, and potential losses from more-recent events (e.g., Hurricane Dorian). Property catastrophe pricing still is being driven by the availability of third-party capital; however, the increasing interdependence between traditional capacity and third-party capital through joint ventures, retrocession and direct ownership should serve to more closely align return objectives for the market overall. Third-party capital also represents a benefit in the form of stabilized earnings of rated balance sheets, due to tail risk being assumed by this capital.

Overall market conditions are improving, but AM Best remains concerned about insufficient rate adequacy relating to certain U.S. casualty lines, a steady decline in the benefit of favorable reserve releases and the pervasive low interest rate environment. The collective effect of these factors requires underwriting discipline, and failure to react to these pressures could adversely affect the segment.

The report outlines other factors that are driving the stable market segment outlook, including:

  • AM Best believes alternative third-party capital will hold the line on future return expectations following the recent heavy catastrophe loss years;
  • A decline in capital consumption and earnings volatility, due in part to the increased utilization of third-party capital in retrocessionaire programs;
  • Greater emphasis on underwriting discipline due to pressure on interest rates and potential slower economic growth globally;
  • Improving pricing momentum driven by higher loss costs, coupled with lower loss reserve redundancies;
  • Increased demand for non-life reinsurance due to primary companies’ recent loss experience, as well as new risk transfer opportunities and mergers and acquisitions;
  • Stable operating performance among life reinsurers, which continue to maintain defensible market positions and offer services beyond risk transfer that create hurdles for new entrants.

To access the full copy of the overall global reinsurance briefing, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=292334.

Separate briefings on the non-life and life reinsurance segments can be viewed at:

To view a video with AM Best Associate Director Scott Mangan about the global reinsurance market segment outlook, please visit http://www.ambest.com/v.asp?v=globalreoutlook1219.

AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2019 by A.M. Best Company, Inc. and/or its affiliates.

ALL RIGHTS RESERVED.

Contacts

Robert DeRose
Senior Director
+1 908 439 2200, ext. 5435
robert.derose@ambest.com

Greg Carter
Managing Director
+44 20 7397 0288
greg.carter@ambest.com

Michael Porcelli, FSA
Director
+1 908 439 2200, ext. 5548
michael.porcelli@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off