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Nference Closes $60M Series B

2020-01-08
CAMBRIDGE, MA, nference today announced the completion of a $60 million Series B round.
nference today announced the completion of a $60 million Series B round to advance its biomedical knowledge synthesis platform. Mayo Clinic participated in this financing as a strategic investor.

"Our platform makes the predominantly unstructured health information such as clinical notes, case reports, scientific literature, pathology images, ECG waveforms and genomic sequences computable," said Murali Aravamudan, Founder and Chief Executive Officer of nference. "Causal inference of genotype-phenotype relationships necessitate such triangulation-at-scale across differentiated bodies of biomedical knowledge."

"We are thrilled to amplify the impact of data science with our biopharmaceutical partners who leverage our platform in order to pursue a broad spectrum of therapeutics and digital health applications to benefit patients," said Venky Soundararajan, Ph.D., Founder and Chief Scientific Officer of nference.

nference is building a holistic software platform that synthesizes the world's exponentially-growing unstructured, semi-structured, and structured biomedical knowledge bases using state-of-the-art neural networks. This technology enhances drug discovery, clinical research and operations across the biopharmaceutical continuum.

"Our strategic investment in nference is a reflection of our confidence that a holistic knowledge synthesis platform, that puts patient privacy first, is the solution for effectively leveraging Real World Evidence to spur innovation to benefit patient care," said Andrew Danielsen, Chair of Mayo Clinic Ventures, the innovation commercialization arm of Mayo Clinic.

About nference
Powered by its Augmented Intelligence software platform, the nference mission is to synthesize the world's exponentially growing biomedical knowledge. nference uses state-of-the-art neural networks (shallow and deep learning models) for real-time, automated extraction of insights from the scientific, clinical, regulatory and commercial data sets. The platform enables a diverse set of applications ranging from R&D to commercial strategy and operations in the life sciences ecosystem. nference is making biomedical knowledge computable, and building its AI platform to serve as the connective fabric for various silos of information that exist in unstructured, semi-structured, and structured forms across health care enterprises. nference is backed by Matrix Partners, Matrix Capital Management, Mayo Clinic Ventures, and NTT Venture Capital. For more information, visit nference.ai.
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