BeiGene(BGNE) Businesswire·2024-03-14 14:12Company Overview - Pi Health is an oncology-focused health technology and clinical research company that aims to transform global access to innovative medicines and clinical trials [1] - The company was incubated as a subsidiary of BeiGene, Ltd. and has recently completed over $30 million in Series A funding to launch as an independent entity [1][5] - The funding round was led by AlleyCorp and Obvious Ventures, with additional investments from Invus Capital and global oncology leaders [1] Industry Challenges - The clinical trial system is characterized by low participation rates, with less than 8% of eligible cancer patients participating in studies, limiting understanding of the disease across diverse populations [2] - Current clinical trials infrastructure is inefficient, relying on outdated methods such as Excel spreadsheets and manual data entry, which complicates the process [4] Technological Innovation - Pi Health has developed FICS (Front-End Interoperable Capture Software), a comprehensive software solution that connects life science sponsors and trial sites, automating manual processes for faster and higher-quality data collection [4] - The software integrates generative AI to streamline clinical documentation, patient matching, data transformations, and adverse event monitoring, significantly reducing administrative burdens [5] Market Potential - The implementation of Pi Health's platform is expected to revolutionize the clinical trial system, enabling faster and more efficient delivery of life-saving drugs and treatments to patients [5] - The Series A funding will support the expansion of partnerships with global trial sites and life sciences companies, as well as further development of the FICS technology [5][6] Global Reach - Pi Health has established partnerships with oncology centers across the US, Brazil, Australia, and India, including a new cancer hospital in Hyderabad, India, to promote equitable access to clinical trials [7]