Saama Closes $40 Million Financing with Perceptive Advisors to Drive Disruption in Clinical Analytics and Drug Development
CAMPBELL, Calif.--(BUSINESS WIRE)--Mar 25, 2019--Saama Technologies, Inc. (“Saama”), a leading clinical data analytics platform firm, announced that it has closed a $40 million financing with Perceptive Advisors. The new funding will be used to support the expansion of Saama’s Life Science Analytics Cloud (LSAC), an AI-powered platform disrupting the planning, designing and conduct of clinical trials across various stages of clinical development. LSAC seamlessly ingests, integrates, curates, and harmonizes clinical trial operational and patient data from proprietary and external data sources to deliver actionable, regulatory-ready insights. LSAC’s novel deep learning approach significantly compresses clinical program timelines from clinical plan development to submission judgment for a New Drug Application (NDA).
“The pharmaceutical industry, patients, advocacy groups, and global regulatory agencies are all eager for innovations that rapidly accelerate clinical trials while driving down costs. We are excited to lead that change with a differentiated data analytics platform. We intend to use the proceeds of this financing to strengthen our ecosystem of pharma and biotech partners, academia, data providers and CROs, and build a suite of collective innovations leveraging our award-winning LSAC platform,” said Suresh Katta, Founder and CEO of Saama Technologies. “Perceptive Advisors understands the dynamic clinical development space and the need for adopting leading-edge technological solutions for enabling our pharma and CRO partners to drive sustainable and breakthrough clinical innovation.”
“Perceptive’s investment in Saama will enable this leading data analytics company to continue to innovate at the highest level,” said Sam Chawla, Portfolio Manager, Perceptive Advisors. “Partnering with Saama at this exciting juncture in the company’s lifecycle opens up a spectrum of future opportunities for Saama to positively impact clinical operations and influence business outcomes for life sciences companies.”
The new financing brings the total Saama has raised since 2015 to $75 million. Torreya Partners served as financial advisor to Saama in conjunction with this transaction.
About Saama Technologies, Inc.
Saama Technologies is the advanced clinical data and analytics company, unleashing wisdom from data to deliver better business outcomes for the life sciences industry. Saama’s unified, AI-driven clinical data analytics platform seamlessly integrates, curates, and animates unlimited sources of structured, unstructured, and real-world data to deliver actionable insights across all therapeutic areas. The award-winning platform gives unprecedented real-time visibility into clinical data, enabling sponsors to file New Drug Applications (NDAs) more efficiently to bring drugs to market faster and at lower costs. For more information, visit http://www.saama.com.
About Perceptive Advisors
Founded in 1999, Perceptive Advisors focuses on supporting progress in the life sciences industry by identifying opportunities and directing financial resources toward the most promising technologies in modern healthcare. The firm manages approximately $4 billion across its strategies, including approximately $1 billion focused in its credit opportunities vertical. The firm is headquartered in New York, NY. For more information, visit http://www.perceptivelife.com.
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CONTACT: Crystal Black
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS SOFTWARE HEALTH BIOTECHNOLOGY PHARMACEUTICAL
SOURCE: Saama Technologies, Inc.
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PUB: 03/25/2019 08:00 AM/DISC: 03/25/2019 08:01 AM