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Patient intelligence pioneer Talking Medicines targets US market

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Talking Medicines, an AI-driven “patient intelligence” firm designed to meet the needs of pharma, has closed a £1.5m funding round to drive its US growth.

Boston-based life science investor Mark Bamforth of Thairm Bio has joined the current funders in a syndicated funding round of £1,500,000 alongside Tern Plc, the investment company specialising in the Internet of Things (“IoT”), impact investor SIS Ventures, and Scottish Enterprise, which has also provided grant funding through its SMART:SCOTLAND programme.

Through a combination of AI and industry expertise, Talking Medicines has developed the next generation data platform to “bring social listening for pharmaceutical companies into the new age”.

Its platform PatientMetRx is driven by AI models that use machine learning and natural language processing to provide science-based insights aimed at cutting through the noise from social platforms.

By structuring and translating the patient’s voice into a patient confidence score (PCS), Talking Medicines helps to drive more effective marketing by pharma and ultimately deliver better patient outcomes.

This latest investment brings the total raised by Talking Medicines to £4m. The company is focusing this year on expanding its PatientMetRx subscription base amongst pharma brand teams and pharma marketing agencies.

Talking Medicines has established a new office in New Jersey to support these plans with a view to recruiting a US-based sales team.

Talking Therapies, based in Glasgow, was formed in 2013 by CEO Jo Halliday alongside co-founders Dr Elizabeth Fairley and Dr Scott Crae.

Jo Halliday, said: “[This] promises to be a big year for Talking Medicines with this new investment. Having scaled up our operations and formally launched our PatientMetrx technology platform, we’ve now got our sights set on expanding in the US pharma market, providing brand teams and agencies with a new way of understanding what patients are really saying and feeling about their medicines.

“The pharmaceutical industry will go through seismic change this year and our actionable patient insights will be transformational for the industry. Our new office in New Jersey provides the ideal base for us to build relationships with customers, acquire new leads and drive revenue growth.”

Mark Bamforth of Thairm Bio said: “This is a great opportunity to support the Talking Medicines’ team to bring their platform to the US to help patients and pharma companies to improve the delivery of healthcare.”

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