Talking Medicines secures £1.1 million funding deal
by Startacus Admin
.JPG)
Talking Medicines, the social intelligence company for the pharmaceutical industry, raises £1.1 million funding deal to scale up its AI-based data technology platform for measuring patient sentiment
Good news for Talking Medicines, the world’s first social intelligence company for the pharmaceutical industry, with the announcement that it has received a major boost with a £1.1 million funding deal to scale up its AI-based data technology platform for measuring patient sentiment.
Tern Plc, the investment company specialising in the Internet of Things (“IoT”), is the lead investor in a syndicated funding round of £1,100,000 alongside The Scottish Investment Bank, Scottish Enterprise’s investment arm.
Led by CEO Jo Halliday alongside co-founders Dr Elizabeth Fairley and Dr Scott Crae, Talking Medicines will use the funds to support the launch and roll-out of a new AI data platform, which will translate what patients are saying into actionable pharma grade intelligence by providing a global patient confidence score by medicine. As part of these plans, the business intends to immediately recruit 9 new employees to the NLP data tech team.
Glasgow-based Talking Medicines uses a combination of Artificial Intelligence, Machine Learning and Natural Language Processing tech tools to capture and analyse the conversations and behaviours of patients at home, with the aim of transforming big pharma’s understanding of patient sentiment.
Through mapping the patient voice from social media and connected devices to regulated medicine information, Talking Medicines is able to build data points to determine trends and patterns of patient sentiment across medicines. This intelligence enables pharmaceutical companies to make patient centric marketing decisions, driving more effective medicines and marketing spend.
Real-time, compliant intelligence can replace traditional focus groups, prescriber reports and clinical target patient profiles to tell pharmaceutical companies who is using their medicines, how, and what they really think of their brands.
Talking Medicines has now raised £2.5 million to date and since launching 7 years ago, the business has scooped a number of accolades for its innovative approach including winning Rising Stars 2.0, a competition to select the rising stars of UK tech.
Talking Medicines CEO, Jo Halliday, said: “We are delighted that Tern is joining our investor group, and Al Sisto will be bringing his wealth of experience to the Board. Now more than ever we passionately believe that big pharma needs a systematic way to make data driven decisions through accessing high grade social intelligence driven from the patient.”
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Innovate UK KTN’s Sustainable Impact Investment Programme chooses 13 sustainable UK startups striving to change the world
.jpg)
Etihad Airways partners with Aerospace Xelerated and Tawazun Economic Council to seek applications from innovative startups that are working in the digital services and solutions area.
.jpg)
New cross-border collaboration project featuring interactive portal and series of networking events to be delivered by TechIreland and Startacus, with support from InterTradeIreland’s Synergy initiative.
In London later this week and interested in learning how AI can help startups scale? Book your ticket now for this free event from Women in AI featuring a panel of industry experts discussing just that.
The latest Funding Review from TechIreland reveals that Irish Startups raised €746M in the first-half 2022 but early-stage rounds have dropped to a five-year low.
London-based SaaS startup Evorra has created a data marketplace enabling brands and agencies to build and scale their marketing audiences.
Artist John Kerr set to exhibit a series of personal paintings at The Spot, the urban-art focused gallery in Derry as part of Culture Night 2022.
The lowdown on customer behaviour analysis - what it's all about, the kinds of things that can have an impact on it and how to get it right.
.png)
The innovative businesses participating in this year’s AI Accelerator, delivered by The University of Edinburgh’s Innovation Hub for Data Science and Artificial Intelligence, the Bayes Centre are revealed.
Edinburgh-based startup SmpliCare innovating how we care and age by exploring the use of AI-driven wearables to predict the risk of falls and other age-related health issues
Published on: 4th November 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Innovate UK KTN launches its 2022 sustainable impact accelerator programme 28th Sep 2022 Innovate UK KTN’s Sustainable Impact Investment Programme chooses 13 sustainable UK startups striving to change the world
- Etihad Airways Joins Aerospace Xelerated as a Partner for its Fourth Cohort 27th Sep 2022 Etihad Airways partners with Aerospace Xelerated and Tawazun Economic Council to seek applications from innovative startups that are working in the digital services and solutions area.
- TechIreland & Startacus promote cross-border business collaboration with InterTradeIreland support 26th Sep 2022 New cross-border collaboration project featuring interactive portal and series of networking events to be delivered by TechIreland and Startacus, with support from InterTradeIreland’s Synergy initiative.
- TechIreland publish their mid-year report on Irish startup and tech funding. 22nd Sep 2022 The latest Funding Review from TechIreland reveals that Irish Startups raised €746M in the first-half 2022 but early-stage rounds have dropped to a five-year low.
