Rivia, a Swiss startup specializing in AI-driven analytics and clinical trial data infrastructure for Biotechs, has secured a €3 million seed funding round led by Speedinvest. The funds will be used to hire new teams across engineering and client services, and will also advance product development to fully harness the potential of integrated trial data and strengthen its position as the unified data platform for biopharma clinical trials.
This investment comes at a crucial moment for Biotech as only 13% of therapies that enter clinical trials reach the market, reflecting the growing complexity of therapeutic development and rising competitive pressures1.
Rivia’s mission is to transform the lifecycle of clinical trials, empowering Biotechs to achieve greater success in developing new therapies through its technology. Founded by seasoned biopharma experts familiar with the industry’s pain points, Rivia focuses on creating user-friendly software tailored to the needs of biotech firms. By addressing issues such as fragmented data and outdated visualization tools, Rivia is revolutionizing the clinical trial lifecycle. The company’s innovative technology empowers biotechs to analyze trial data more effectively, facilitating quicker and more efficient pathways to market for their therapies.
Erik Scalfaro, CEO and co-founder of Rivia said: “Our technology transcends data integration and changes how biotechs evaluate their therapies throughout their development lifecycle. Our founding expertise lies in consolidating information from clinical trial service providers and offering self-service analytics for medical and clinical operations. This year, we’re introducing AI-powered analytics and AI-enabled workflows to enhance data interactions. Our mission is to equip biotechs with tools to develop transformative, life-saving therapies and we’re thrilled by the promising signals we’re seeing.”
Rivia addresses a significant inefficiency in the industry: current data collection advancements are not matched by system integration capabilities or user-friendly web applications that require low customization efforts. The transition to innovative drug treatments, including mRNA vaccines, newly approved gene-editing therapies2, and AI-discovered drugs3, underscores the critical need to evolve from traditional, slow clinical trial practices to a nimble, tech-centric approach that navigates the uncertainties associated with these groundbreaking treatments4.
“We at Speedinvest are beyond excited to work closely with Erik and Tiago and lead Rivia’s seed round. Rivia’s infrastructure and AI-powered platform fundamentally changes how biotech companies access and analyze their clinical trial data, glean insights and make real-time decisions. The feedback from their customers is phenomenal and we believe Rivia has the potential to become the gold standard in the industry,” commented Andrea Zitna, Partner at Speedinvest.
“Rivia stands out for its unique approach to centralizing and visualizing multiple sources of clinical trial data in real-time, requiring minimal integration efforts and enabling proactive patient monitoring. We strongly believe Rivia’s two-pronged value proposition, focused on enhancing operational efficiency and reducing risks, is exactly what thousands of biotechs globally have been waiting for — and we are excited to see this European company deliver on it with such deep domain expertise, creativity, and ingenuity,” added Marta G. Zanchi, Founder & Managing Partner at Nina Capital.
Read the orginal article: https://www.eu-startups.com/2024/06/zurich-based-rivia-raises-e3-million-to-address-the-critical-inefficiencies-in-the-current-clinical-trial-process/
