Semalytix receives two million euros

NRW.Bank is a new investor in the AI start-up.

The Bielefeld-based start-up Semalytix raises a further two million euros in its extended Series A financing round. The money comes from NRW.Bank. Semalytix already received €4.3 million from btov Partners, Fly Ventures and several business angels at the end of 2020.

Semalytix has developed the "Pharos" platform for systematic research into patient needs. The start-up's aim is to gather treatment experience and side effects in order to make medication safer. "Artificial intelligence is not only becoming increasingly important in the healthcare market," says Michael Stölting, Member of the Managing Board of NRW.Bank. "With Semalytix, pharmaceutical companies are able to derive insights from global patient experiences with medicines. This offers great potential in the current situation - just think of the testing of new vaccines."

Semalytix was founded in 2015 and currently employs 60 people from 24 countries. The AI-based software can read and understand texts. It collects voices from patient forums, social media and other online sources on everyday experiences with medication and structures the data obtained in this way to make it usable for the pharmaceutical industry. The results serve as a basis for the further development of medicines and treatment methods. One of the larger customers is the pharmaceutical company Boehringer Ingelheim.