The tech has the potential to reduce healthcare costs and improve outcomes.
InsightRX, a developer of health technology for precision medicine, today announced the closing of a $10 million Series A funding round to broaden access to its platform.
HealthX Ventures led the funding round, with additional investments from Rock Health, OSF Healthcare, Leawood Venture Capital, Premier and GreatPoint Ventures.
InsightRX’s cloud-based precision dosing platform, InsightRX Nova, integrates with a hospital’s electronic health record and enables clinicians to individualize medication dosing regimens at the bedside.
“InsightRX’s platform and unique value proposition will improve treatment effectiveness for commercially available drugs in the hospital setting, while allowing pharma companies to start incorporating precision dosing early on during the drug development process,” said Mark Bakken, general partner of HealthX Ventures.
The company leverages patient-specific data, quantitative pharmacology models and Bayesian forecasting to understand patients’ pharmacological profile to guide treatment decisions.
Its other platform, InsightRX Apollo, aggregates analytics for hospitals and care teams to improve treatment responses and discover factors that impact drug efficacy and toxicity.
Both technologies are being used by more than 100 healthcare institutions and life science companies.
“Precision dosing allows us to best achieve optimal therapeutic targets for each patient,” said Michael Neely, M.D., chief of infectious disease at the Children’s Hospital of Los Angeles, a partner of InsightRX. “This is especially important for many medications used in hospitalized infants and children who have highly variable concentrations after standard dosing — concentrations often below or above what is considered safe and effective.”
The platforms have the potential to reduce healthcare costs and improve care and outcomes for patients.
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