Thomvest is excited to announce that we led a $20 million investment in Evidence Partners, the market leader in AI-enabled literature review software. Evidence Partners’ primary product, DistillerSR, automates systemic literature reviews for more than 300 of the world’s leading research organizations, including more than 60 percent of the largest pharmaceutical and medical device companies. This financing will allow Evidence Partners to invest across the organization and accelerate its lead in this growing market.
Whether an organization produces pharmaceuticals, develops medical devices, or it is an academic institution or scientific regulatory body, systemic literature reviews are a critical part of their work. Expert researchers at these organizations study scientific literature to answer questions like, “is our medical device safe?” or, “is there any evidence that the economic benefit of our product has changed?” or, “what is the safe level of a chemical in the environment?”
The work of these research teams is becoming difficult for two key reasons. First, new scientific research is being published daily, which could change the understanding of the use, efficacy, or economic impact of a drug or device. Second, the regulatory demands on these organizations are always increasing. For example, the European Union’s Medical Device Regulation introduced in 2017 has significantly increased the regulatory oversight of medical devices there. Not only is there more research to review, the regulators are insisting that submissions be auditable and reproduceable. These dual pressures mean that research organizations need to automate how they operate in order to keep up (Read more…)