.gif)
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.
Never forget someone's birthday again thanks to Prsnt, the gifting app that enables users to source and send instant presents via text!
West Cork-based startup Riley launches crowdfunding campaign to support growth of its eco-friendly period product service and hits six figures in less than 24 hours
.jpeg)
Business in the hospitality sector? Erik Wolf, founder of the World Food Travel Association shares some great advice and tips on adapting to the new normal...
.jpeg)
Raising capital for your business? Oliver Woolley, CEO and co-founder of Envestors shares insights on the real costs of doing just that...
Flexible childcare provider Bubble offering parents and carers in Greater London startups the opportunity to avail of £1000 of free childcare credits.
Small business and still a little unsure about importing and exporting to the EU? Glen Foster, small business director, Xero shares some guidance...
Innovative digital talent sourcing and on-boarding platform Gigged.AI secures investment to support further product development and team expansion
òtító is a crowdsourced platform that's created a library of factual claims that helps you steer clear of misinformation and use evidence-based information instead
The lowdown on Luminate Medical, the Galway-based startup that has developed an innovative device to prevent hair loss during chemotherapy
SEO should be a vital element of your digital marketing strategy - here's an overview of what it is, why it matters and the potential benefits it can bring
Published on: 4th November 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Deeptech software startup fund launched by Lunar Ventures 15th Oct 2021 A €40M first fund has just been launched by Lunar Ventures to support the next wave of European DeepTech Software startups
- London-founded fintech 9fin Raises £8M Series A 13th Oct 2021 Innovative Debt Capital Markets Intelligence Platform, 9fin secures major funding to support its expansion into the US market
- Future of Work and Workplace Solutions sought for all-island Irish Startup Pitch Comp 8th Oct 2021 Showcase your innovative workplace solution at the Work: In Progress startup pitch competition taking place during the Work: In Progress event on 10th November.
- French startup Cala Announces €5.5M Seed Round 6th Oct 2021 Cala's mission to innovate the catering sector continues as it secures funding boost to support expansion of its fully autonomous restaurant chain
