Biolevate, a Paris-based startup, is transforming AI medical writing with its innovative ELISE platform, backed by €6 million in seed funding.
The round was led by EQT Ventures, with additional backers including bpifrance and angel investors. Proceeds will be used to improve Biolevate’s AI solution, ELISE, and grow its workforce. The company is also boosting its standing in the healthcare tech space in part because it was included in the Future 40 at Station F.
Hearing medical writing in the health sector is relatively vital for compliance meetings and documents, which however requires a lot of time and resources. Healthcare business expenditure in R&D has increased nearly twofold in the last ten years, thereby increasing the pressure on medical writing. Biolevate came close to solving this challenge through the ELISE platform which automates the generation, validation, and management of the regulatory documents.
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ELISE uses cutting-edge techniques like Natural Language Processing (NLP), Graph Neural Networks (GNN), and Computer Vision to support medical writing professionals. It gives immediate prompts, a review of regulatory compliance issues as well as a review of the contents of the Literature and saves the efforts of the researchers and the regulatory specialists while making the documentation precise. Moreover, ELISE is useful for data analysis and anomaly detection facilitating more efficient R&D.
Market Opportunity:
With global pharma R&D spend under this constant pressure, the demand for friendly technologies that augment processes while remaining compliant also rises. To manage the schedule, scalability, and level of complexity, Biolevate’s position and offering would likely serve the pharmaceutical, cosmetic, and medical device markets very well, providing a large potential customer base for the company’s services.
Ethical Considerations:
AI in healthcare is largely beneficial, but there are issues, including the risk of job loss, data privacy, and accountability. This brings out an aspect of the company that appears to have addressed some of these ethical rights; Biolevate does not aim to replace human talent or knowledge but to enhance it. However, this company directs all its efforts toward cooperation between people and artificial intelligence to improve productivity without devaluing medical writing professionals.
Biolevate’s AI-based solution makes a revolutionary shift in enhancing the healthcare processes. Through this means, Biolevate finds itself well-placed to emerge as a major driver of efficient AI medical writing that will unlock the delivery of cutting-edge therapeutics. In light of the advancements in AI, the Biolevate case may act as a benchmark for other – future –startups seeking to operate in this two-sided market of technology and medicine.
