Lokavant Analysis: $8M Raised

IT firm offering real-time visualizations and AI services

Monitor clinical trial risks in real-time; Visualize data for pharmaceutical companies; Provide AI-driven insights for healthcare organizations; Alert stakeholders on potential project risks; Enhance decision-making processes in clinical research

Acquired by ProofPilot; Raised Series A funding led by Mitsui & Co; Serves clients in the healthcare and pharmaceutical sectors

Lokavant employs a technology ecosystem that heavily incorporates artificial intelligence (AI) and machine learning (ML) in its operations, particularly in the context of clinical trials. Here are the key technologies identified:

1. Artificial Intelligence (AI):

   • Lokavant utilizes AI to enhance the efficiency and outcomes of clinical trials. Their blog discusses the role of AI in optimizing trial processes and addressing challenges in study feasibility.

2. Machine Learning (ML):

   • Machine learning techniques are integrated into their solutions to improve decision-making and forecasting in clinical trials.

3. Data Management Tools:

   • Prizm CDH: This is a source-agnostic data engine that aggregates and standardizes clinical trial data, facilitating better decision-making and performance in clinical trials.

4. AI-Powered Solutions:

   • Clinical Trial Forecasting Solution: This tool significantly reduces manual work and enhances the accuracy of trial forecasting.
   • AI Clinical Trial Feasibility Solution: This solution optimizes trials from planning through to mid-study re-forecasting, improving overall trial management.

While specific programming languages, frameworks, infrastructure, databases, and sales tools were not explicitly mentioned due to the lack of current job postings, the focus on AI and data management indicates a modern and data-driven approach to their technology stack.

Lokavant employs a sales-led growth strategy with elements of product-led growth. Their website does not prominently feature self-service sign-up options or transparent pricing, indicating a reliance on sales representatives for customer engagement. The case study on feasibility analysis demonstrates their focus on leveraging AI to enhance clinical trial processes, suggesting a commitment to providing value through advanced technology. This approach is indicative of optimizing for high-touch relationships and larger contract values, particularly within the pharmaceutical industry.

Lokavant has collaborated with several notable clients, primarily in the pharmaceutical and clinical trial sectors. Key partnerships include:

1. Top-10 Pharmaceutical Sponsor: Although the specific name is not disclosed, Lokavant assisted this sponsor in a feasibility analysis for a phase III trial. They utilized Lokavant's AI-driven insights to enhance site selection and improve trial feasibility.

2. H1: In a partnership aimed at enhancing clinical trial data and analytics, H1 utilizes Lokavant's performance data on global trial sites and investigators to improve its Trial Landscape repository. This collaboration is designed to empower clinical teams with better insights for selecting investigators and sites, thereby accelerating drug development.

3. CMIC: Lokavant entered a multi-year partnership with CMIC to deploy its predictive analytics platform for clinical trial management in the Asia-Pacific region. This partnership focuses on improving trial management by predicting data quality issues, study timeline delays, and budget overruns, allowing CMIC to proactively mitigate risks.

These collaborations highlight Lokavant's role in enhancing clinical trial operations through advanced data analytics and risk management solutions.

Lokavant has participated in the following trade shows and conferences over the past year:

1. DPharm - September 17-18, 2024

   • Notable Presentation: "Innovative Sources and Solutions" by Aaron Mackey, SVP Data Science and AI.

2. DIA Global - June 16-20, 2024

   • Notable Presentation: Innovation Theater Presentation by CEO Rohit Nambisan.

3. ACDM24 - March 3-5, 2024

   • Notable Presentations: Demo presentations on March 4th and 5th.

4. SCOPE Summit - February 11-14, 2024

   • Notable Presentation: "Making Rare Connections in Rare Conditions" by CEO Rohit Nambisan.

5. Clinical Trials Europe - November 29-30, 2023

   • Notable Presentation: Panel discussion on AI in clinical trials featuring CEO Rohit Nambisan.

6. FT Live: Global Pharma and Biotech Summit - November 7-9, 2023

   • Notable Presentation: "Pioneering Artificial Intelligence Across the Pharma Value Chain" by CEO Rohit Nambisan.