May 20, 2021
Narrativa raises $1.3M to help pharma companies accelerate the FDA drug approval process through NLG
By Sofía Sánchez González
Narrativa, whose artificial intelligence (AI) platform can help pharmaceutical companies accelerate the drug approval process and lower the overall cost of compliance, recently closed its $1.3 million financing round.
The AI-writing assistant platform uses advanced Natural Language Generation (NLG) to run through millions of data points from clinical trials generating readable and comprehensible written medical narratives, TLFs, and more, increasing accuracy and drastically reducing the time and cost to create critical (and laborious) regulatory documents.
Automation of Clinical Trial Reports
“The availability and quality of data from clinical trials has changed the pharma industry with the most significant impact in drug discovery. Pharmaceutical companies have always relied on empirical data to identify patterns, test hypotheses and understand the efficacy of treatments. Now, it’s time to trust artificial intelligence to assist medical writers to generate regulatory documentation,” says David Llorente, founder and CEO of Narrativa.
Pharmaceutical companies spend over $1.5 billion on regulatory documentation and the average time to complete the documentation to obtain FDA approval of a new drug might take up to one year. The extensive time spent on regulatory documentation significantly increases the time-to-market for new drugs.
“Many companies are drowning in data and do not fully understand what their data says. We want to empower corporations through natural language generation to understand data, get teams aligned, make the decision-making process easier, inform on which improvements to be made and increase revenue opportunities,” says Narrativa President, Jennifer Bittinger.
About Narrativa
Founded in 2015, Narrativa was created from the belief that technology can be used to transform the world in a positive way. Recognized by Samsung as one of the most important companies in the NLG field, Narrativa supports businesses that want to grow by anticipating trends and transforming data into human language in real time. Through its artificial intelligence system and experience in machine learning, Narrativa produces automated content in diverse fields, including finance, pharmaceuticals, insurance, media, and gaming among others. Visit www.Narrativa.com to learn more.
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