The Leading Multi-Modal Oncology Data Cloud and CARAai™ are the Foundations for a New Suite of Generative and Agentic AI SaaS Solutions for the Life Sciences Enterprise

CAMBRIDGE, Mass.: #AI--ConcertAI, a leader in oncology predictive, generative, and agentic AI SaaS and Real-World Data (RWD) solutions for healthcare and life sciences, today outlined its FY2024 business results, key partnerships, and future roadmap at the 43rd annual J.P. Morgan Healthcare Conference.

Highlights

ConcertAI's CEO, Jeff Elton, PhD presented business results and future roadmap:

• In 2024, 72% of total revenues were annually recurring (ARR) – the highest ever achieved; exiting FY2024 profitable, with mid-teens unadjusted EBITDA margins
• Exceptional growth and performance of Commercial Solutions SaaS managed service business with more than 80 therapeutics under agreement
• 5.5 million multi-modal oncology RWD records enabled by the CancerLinQ® network acquisition in December of 2023
• More than 40 biopharma users and 1,000 projects completed using the Patient360™ DaaS solution
• Planning to launch new Data-as-a-Service (DaaS) and AI Software-as-a-Service (SaaS) solutions built from the CARAai™ Platform in 2025

Key 2024 & 2025 Collaborations

• Strategic, multi-year, translational partnerships with multiple biopharma companies, including Dewpoint Therapeutics and AbbVie, supporting high-priority early clinical development programs with leading clinico-molecular RWD & AI SaaS Solutions
• Leading in-class clinico-molecular partnerships with Caris Life Sciences, NeoGenomics, and Guardant to create a differentiated molecular oncology platform for precision oncology research
• Joint AI SaaS solution co-developed with NeoGenomics as CTO-H™ for designing and optimizing clinical trials in hematology, the industry’s highest growth area for R&D
• Collaboration with NVIDIA on translational and clinical Development solutions utilizing oncology-tuned NVIDIA NIM microservices — including the Llama 3 NIM microservice, Vision LM, and NVIDIA CUDA-X microservices — all tuned for oncology, to develop a new model of entirely AI-based data curation, LLM model development, and high-performance enterprise-grade services. The collaboration is expanding to medical imaging in 2025, aligned with the recently announced ConcertAI TeraRecon AI SaaS solutions.

ConcertAI, founded in 2018, has rapidly emerged as the leading multi-modal research-grade Data-as-a-Service (DaaS) and AI Software-as-a-Service (SaaS) company in oncology, providing solutions to 50 life science companies and 2,000 healthcare providers and research sites globally. ConcertAI has also raised more than $230 million through series C funding, with its last post-investment valuation of $1.9B in March of 2022.

In December of 2023, ConcertAI acquired the American Society of Clinical Oncology’s CancerLinQ® entity, one of the largest intelligent oncology research and quality networks in the world. This U.S. network is also one of the few large-scale and independent data sources, most others being aligned to an EMR, diagnostic lab, or single healthcare provider. This now forms the foundation for the CARAai clinical RWD cloud as the industry’s most diverse, representative, and referenced oncology data sources.

Use of artificial Intelligence solutions by life science companies and healthcare providers is anticipated to grow at a very high rate, approaching $26B or more for Life Science applications alone, according to one recent McKinsey analysis. “With the FDA guidance released a week ago, entitled ‘Considerations for the Use of Artificial Intelligence to Support Regulatory Decision-Making for Drug and Biological Products,’ the need for representative data and clearly framed ‘Context of Use’ criteria will place a higher burden of performance on AI model and application developers,” noted Jeff Elton, PhD, CEO of ConcertAI. He went on to add that, “over the last year, ConcertAI has been making significant investments around the CancerLinQ network to address these new AI for Healthcare and Life Sciences requirements – making it one of the few, or only, neutral and least-biased RWD sources in oncology and hematology.”

CARAai from ConcertAI is an oncology research and standard-of-care decision augmentation platform that taps into domain-specific models and intelligent workflows developed by ConcertAI and built with NVIDIA technologies. By collaborating with NVIDIA, ConcertAI has gained access to industry-leading AI solutions with full transparency of model explainability and the capability to tune specific large language models, along with the Llama 3 NIM microservice, for narrow oncology applications with assurance of ongoing model characteristics and performance. Using these technologies, ConcertAI has also entered new areas of research. In addition, the collaboration has accelerated the transformation of the CARAai cloud platform to use optimal GPU infrastructure for different processes, leading to higher performance and lower operating costs.

A large percentage of drug candidates fail during Phase 1 clinical trials and beyond, emphasizing the need for innovation in drug development. The integration of NVIDIA NIM microservices with ConcertAI’s SaaS platform and multimodal data capabilities aims to support more effective clinical trial design and outcome prediction.

“Introducing generative AI tools to clinical trials is an important step forward in advancing drug development,” said Stacie Calad-Thomson, Ph.D., Business Development Lead for Healthcare and Life Sciences, North America, at NVIDIA. “Combining NVIDIA NIMs with ConcertAI’s platform improves how clinical trials are designed and executed, helping lead to better patient outcomes.”

During its J.P. Morgan presentation, ConcertAI detailed 2025 AI product releases. The first is a DaaS product, Precision360™, the first population-scale Gen AI and Agentic AI curated data solution that offers a detailed view of the patient journey with exceptional recency and low latency. Now, Life Science companies and Healthcare providers can assess trends, view outcomes, and take actions in near real-time to assure the performance of clinical development, medical, and commercial programs. Complementing Precision360 is the Precision Insights Suite, Gen AI-native it supports major Life Science functions, allowing a consolidation of fragmented and subscale legacy solutions into a single high-performance and high-utility solution. ConcertAI also announced the Accelerated Clinical Trial and Accelerated Patient Actions Suites as enterprise-grade solutions that support end-to-end workflows for clinical development and therapeutic-specific commercial functions respectively.

ConcertAI closed with a capsule summary on the rapid evaluation of its customer relationships. “We now serve 75% of the top Life Science companies, more than 50% of the largest global healthcare providers,” summarized Dr. Elton. “Our products are evolving from highly specialized solutions for experts to enterprise-level AI SaaS and DaaS solutions, integrating multiple data sources and legacy applications to create real-time and cross-enterprise insights, recommendations, and actions. This is ‘AI for Value’ where Gen and Agentic AI liberate enterprises to redefine their ways-of-working and the results they can achieve.”

About ConcertAI

ConcertAI is the leader in predictive and generative AI SaaS and real-world data research solutions for healthcare and life sciences. Our mission is to accelerate insights and outcomes for patients through research-ready data, CARAai™ technologies, and scientific expertise in partnership with over 46 leading biomedical innovators, 2,000 healthcare providers, and medical societies. TeraRecon® provides advanced radiological image visualizations and clinical AI decision augmentation solutions for MRI and CT. CancerLinQ® is an Initiative of ConcertAI, providing oncology providers with ASCO-aligned automated QOPI and ASCO Certified® quality solutions and SmartLinQ™ analytic services. Headquartered in Cambridge, MA, ConcertAI has offices in Bangalore, Frankfurt, Philadelphia, Raleigh-Durham, and Tokyo. For more information, visit us at concertai.com.

Fonte: Business Wire