Unlocking clinical research data with federated AI, Bitfount secures $8 million in funding
In a groundbreaking move, the UK government's recently announced 10-Year Health Plan promises unprecedented support for clinical research, with a focus on accelerating product development and expanding partnerships with AI model developers. One such developer, London-based Bitfount, is making waves in the industry with its federated AI platform designed to transform clinical research collaboration.
Bitfount's innovative platform, conceived by Blaise Thomson during his time at Apple, aims to address the challenges of collaboration in organisations with confidential data and security concerns. The platform, which has secured $8 million in Series A funding, allows pharmaceutical companies and clinical research organisations to collaborate securely without moving raw data, maintaining strict compliance with privacy laws and data sovereignty.
The platform's federated AI approach sends AI algorithms directly to where the data is stored, enabling collaborative analysis across healthcare providers and pharmaceutical companies. This approach has shown significant impact in early pilot projects, particularly in various therapeutic areas. The initial focus of Bitfount's platform is on clinical trials, an area ideally suited for AI applications.
One validation study with Moorfields Eye Hospital demonstrated a significant reduction in screen failure rates, with screen failure rates dropping from 60% to 14% using the platform. The platform also allows for secure analysis of data without moving sensitive patient information, improving patient recruitment and enabling data-driven site feasibility assessments.
Bitfount's platform supports both electronic health records (EHR) and medical imaging data, breaking down data silos that have traditionally hindered clinical research. By removing these barriers, the platform accelerates innovation without compromising privacy. The platform's no-code desktop application can be deployed across any healthcare setting, making it accessible to a wide range of organisations.
The plan aims to reduce commercial trial set-up times from 250 days to 150 days or less by March 2026, positioning the UK as a global hub for clinical trials. With investment backing from Parkwalk Advisors, Ahren Innovation Capital, Pace Ventures, Foresight Group, and Portfolio Ventures, Bitfount is poised for global platform expansion, aligning with healthcare strategies like the UK’s 10-Year Health Plan.
In conclusion, Bitfount’s federated AI platform offers a robust infrastructure for privacy-preserving innovation, enhancing clinical research collaboration by enabling secure multi-institutional data analysis that preserves patient privacy, supports multiple data types including imaging, and accelerates clinical trial efficiency. This approach addresses key challenges in clinical research such as data silos and regulatory constraints, making it a valuable tool in the drive towards life sciences innovation.
[1] Bitfount. (n.d.). About Us. Retrieved from https://www.bitfount.com/about [2] Bitfount. (n.d.). Federated AI Platform. Retrieved from https://www.bitfount.com/platform
- By leveraging artificial intelligence within its secure platform, Bitfount is making significant strides in the medical-conditions domain, particularly in clinical trials, which is a field ripe for AI applications.
- The platform's technology has the potential to revolutionize finance and investing in the life sciences sector, as it effectively addresses the challenges of data privacy and security, enabling more efficient collaboration between pharmaceutical companies and clinical research organizations.
- The efficiency gains and improved data analysis facilitated by Bitfount's federated AI platform align with the UK government's 10-Year Health Plan, which aims to drive innovation in the field of science and technology, ultimately benefiting society as a whole.
