Introduced CARATM, the predictive and generative AI Platform powered by multi-modal Real-World Data, enabling precision oncology, accelerating clinical trials, increasing patient access, driving improved patient outcomes.
CAMBRIDGE, Mass., Jan. 11, 2024 /PRNewswire/ – ConcertAI, the leader in oncology predictive and generative AI SaaS and Real-World Data (RWD) Solutions for healthcare and life sciences, today outlined its FY2024 – 2026 strategy, key partnerships, business results, and generative AI Roadmap at the 42nd annual J.P. Morgan Healthcare Conference.
Highlights
ConcertAI’s CEO, Jeff Elton, PhD, presented data, use cases, business results, and a defining strategy:
- FY2024 revenues of $200M revenue, ~30% ARR growth, 75% ARR as a percentage of total revenues, and profitable;
- The largest multi-model RWD for oncology and hematology, enabling multiple translational, clinical development, and medical research use-cases in healthcare and life sciences;
- Introduced CARATM, a premiere precision oncology generative and predictive AI platform, building off of years of work in healthcare diagnostic solutions and life sciences research;
- And leading AI SaaS Solutions, available today, for augmenting clinical diagnostic decisions and accelerating clinical trials for improved patient outcomes.
Key 2023 & 2024 Partnerships
- Strategic, multi-year, relationship with AbbVie supporting the highest priority Translational and Clinical Development Programs with leading Clinico-molecular RWD & Clinical Trial SaaS Solutions
- Expansion of the Bristol Myers Squibb partnership in Digital Clinical Trial Solutions for faster patient enrollment and trial automation for sponsors & sites
- NeoGenomics strategic partnership to advance population scale RWD and Generative AI Solutions for Clinical Development in Hematology
- Caris Life Sciences broad partnership to create the industry’s leading molecular oncology research platform for Precision Oncology, Biopharma, and leading research-centric cancer research centers
- Memorial Sloan Kettering Cancer Center multi-year collaboration to advance AI-powered imaging (radiology) in oncology using ConcertAI’s Life Sciences Platform, Life Sciences Platform, powered by Eureka and CARA generative AI” as a next generation AI SaaS solution for research and clinical interpretations
- CancerLinQ®, now a ConcertAI Initiative, entered into a multi-year cooperation agreement with ASCO to implement next generation quality measures based on ASCO Certified™, use of ConcertAI Patient360™ RWD solutions for ASCO and ASCO-affiliated research, and CancerLinQ’s introduction of TrialLinQ® solutions for ASCO clinical studies
Focused Strategies
ConcertAI introduced CARA AI, an industry-first advanced Predictive and Generative AI architecture providing horizontal and vertical solution capabilities for healthcare diagnosis, treatment selection, and an array of life sciences co-pilot use cases. CARA capabilities include: advanced AI orchestrations across Large Language Models (LLMs), NLP and predictive AI; oncology and hematology specific LLMs; predictive AI operating on healthcare electronic medical records-derived data, molecular radiological imaging, and digital pathology; and an industry first multi-modal data management platform optimized for predictive and gen AI.
CancerLinQ, an enterprise founded by the American Society of Clinical Oncology (ASCO), became a ConcertAI initiative late in 2023. As part of that transition, ASCO and CancerLinQ formed a long-term agreement to provide quality RWD solutions for ASCO-aligned research and SaaS technologies for ASCO-prospective clinical studies. In October 2023, ASCO announced ASCO Certified™ as a new set of quality measure and tools. These build on the QOPI™ framework. CancerLinQ has provided automated QOPI solutions and now, under the ASCO-CancerLinQ agreement, will develop and deploy high-automation ASCO Certified™ solutions. These not only represent a comprehensive set of measures incorporating the latest clinical treatment quality guidance, but also a set of patient-centric measures. These are consistent with the latest U.S. HHS CMS Oncology Care Model and other private payer value-based care constructs.
ConcertAI’s RWD solutions deployments and customers expanded by 50% as of year-end 2023 versus the beginning of 2022. These include advanced, population scale, multi-modal solutions for solid-tumor cancers and hematological malignancies, making them the most generalizable, representative, and multi-setting solutions available. The company’s Patient360™ regulatory and registry-grade RWD solutions will also be available through CancerLinQ for ASCO-aligned research. To date, the only alternatives align to a single EMR or institution and therefore bring those limitations and biases.
The company’s solutions advanced with 100% growth, with AbbVie being the latest sponsor to utilize the Digital Clinical Trial solutions suite. As part of CancerLinQ being a ConcertAI initiative, ASCO can access these solutions as TrialLinQ™ through their CancerLinQ agreement.
ConcertAI has deployed more AI in production and in regulatory approved solutions than other life sciences- and healthcare-aligned SaaS solutions companies. This is accelerating with the announcement of CARA, and was reinforced with the year-end announcement of a long-term collaboration and co-development agreement with Memorial Sloan Kettering Cancer Center.
About ConcertAI: ConcertAI is the leader in Predictive and Generative AI SaaS and Real-world Data research solutions and healthcare and life sciences. Our mission is to accelerate insights and outcomes for patients through research-ready data, AI technologies, and scientific expertise in partnership with the leading biomedical innovators, health care providers, and medical societies. Serving over 1,900 clinical sites and 45 biomedical innovators ConcertAI companies and solutions are Best in KLAS and awarded the 2020, 2021, and 2022 KLAS recognition. Headquartered in Cambridge, MA, ConcertAI has offices in Philadelphia, Frankfurt, Raleigh-Durham, and Tokyo. For more information, visit us at www.concertai.com.