French health-tech startup Biolevate has raised €6 million in a seed funding round led by EQT Ventures, with participation from bpifrance, to accelerate work on their AI-assisted medical writing platform.
Founded in 2024, Biolevate aims to use AI to transform medical writing processes, enabling faster, more efficient creation of regulatory-compliant documents for the healthcare and pharmaceutical industries.
Joël Belafa, Co-founder and CEO of Biolevate, highlighted the company’s mission: “Artificial intelligence has immense potential, and we established Biolevate with a clear mission of using AI to accelerate the development of new therapies, ensuring patients receive life-saving treatments faster. With our platform, medical writing can be accomplished at a much faster rate while ensuring accuracy of information at every stage of drug discovery and development – ultimately elevating the standard of healthcare.”
Biolevate’s proprietary platform, ELISE, leverages advanced AI technologies, including Natural Language Processing (NLP), Computer Vision, and Graph Neural Networks (GNN), to assist medical writers in creating and managing extensive scientific documents. The platform offers real-time collaborative writing capabilities, automated regulatory validation, and tools for conducting data analysis, reportedly reducing the time required to bring new medical products to market.
According to Biolevate, pharmaceutical R&D spending has doubled over the past decade, while the process of creating regulatory documents remains highly manual and labour-intensive, compounded by a growing global shortage of skilled medical writers. Biolevate’s platform aims to address these challenges by streamlining documentation workflows, ensuring compliance with stringent standards, and enabling researchers to focus on innovation rather than administrative tasks.
Julien Hobeika, Partner at EQT Ventures, commented: “There’s a significant opportunity in making medical writing more efficient using AI, and the team at Biolevate offers an impressive solution to transform medical documentation processes into a seamless and effective procedure that supports innovation and drives scientific breakthroughs benefiting society. At EQT Ventures, we support generation-defining companies that can convert their vision into global successes – and Joël and the team are just getting started: In the long run, their platform can augment any scientist, working with any type of materials.”
Biolevate plans to use the funding to enhance its platform further and expand its team. By addressing the regulatory and operational bottlenecks in the development of therapies, Biolevate aims to reduce time-to-market for new treatments, improve healthcare accessibility, and support global scientific innovation.
Read the orginal article: https://www.eu-startups.com/2024/11/paris-based-biolevate-raises-e6-million-for-their-ai-assisted-medical-writing-platform/
