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CIBC Innovation Banking Provides Growth Capital to InsightRX

SAN FRANCISCO, February 23, 2024--(BUSINESS WIRE)--CIBC Innovation Banking announced today that it has provided growth financing to InsightRX, a San Francisco-based software company leveraging quantitative pharmacology and artificial intelligence (AI) to improve therapeutic decision-making from phase I drug development to the point of patient care. InsightRX applies patient-specific data and quantitative models to tailor dosing for complex treatments, including antibiotics, chemotherapeutic agents, and immunosuppressants. InsightRX also employs AI to empower data scientists in analyzing clinical trial data, aiding in trial design, understanding dose-exposure-response relationships, and refining dosing strategies for regulatory submissions.

"We are proud that InsightRX is leading the transition from the traditional 'one-size-fits-all' approach in drug dosing to a more individualized treatment paradigm that considers the unique characteristics of patient subgroups and the specific needs of each patient. This shift is not just pivotal for patient care but also for the introduction of new drugs to the market. To help us achieve our strategic vision of transforming patient care, we worked with CIBC for the necessary financing to accelerate our growth. CIBC showed intellectual curiosity about the intricacies of our business and were thoughtful in their approach," said Sirj Goswami, Ph.D., CEO and co-founder of InsightRX.

"We’re excited to work with the InsightRX leadership team as they use artificial intelligence to blaze a trail in drug development in biopharma clinical trials and in helping healthcare providers ensure patients are receiving optimal drug dosing," said John Flemming, managing director of CIBC Innovation Banking’s Seattle office. "InsightRX will play a significant role in enhancing the development of new therapies that will improve patient safety in the healthcare drug development and delivery chain."

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.

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About InsightRX

InsightRX is a healthcare technology company that provides a cloud-based clinical decision support platform that applies quantitative pharmacology and artificial intelligence (AI) to enhance therapeutic decision-making from phase I drug development through to individualized patient treatment at the point of care. The company's platform provides an individualized understanding of a patient's response to treatment, enabling medical professionals to bring new drugs to market efficiently, improve treatment effectiveness, and provide direct benefits to patients. Learn more at InsightRX.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240223903604/en/

Contacts

Media
Beth McKay, beth.mckay@cibc.com, 416-552-1391