InnovationRx: This AI Startup Helps Patients Fight Insurance Denials
Summary
Warris Bokhari is trying to change that by putting the power of AI in the hands of patients.Bokhari, a physician-executive who has worked at Amazon, Apple and Anthem (now Elevance Health), saw that large language models like GPT-4 could be useful to summarize information for patients at different reading levels. For Bokhari, this fight is personal, his mom had rheumatoid arthritis, but because he grew up in England, his family didnt have to go bankrupt to afford medication.While building in stealth mode, he found that health insurers are often issuing denials because the guidelines for certain diseases are significantly out-of-date. With a seed round led by Walkabout Ventures (he declined to disclose the amount), Claimable is hoping to add more than a hundred conditions in 2025, for patients with multiple sclerosis, cardiac diseases, diabetes, obesity, asthma and certain cancers. Immunai will receive $18 million for the first phase of the collaboration.Cancer Care: VieCure, which is building an AI-powered cancer care platform to make it easier for community hospitals to utilize personalized care options, announced it has raised $45 million in financing.Immune Disorders: Triveni Bio, which is developing antibody treatments for inflammatory and immune disorders, announced it has closed an oversubscribed $115 million series B round.Quantum Drug Discovery: Quantum computing company D-Wave announced that it has entered into a research collaboration with the pharmaceutical division of Japan Tobacco to develop AI-driven drug discovery processes that utilize quantum computing.Cardio Imaging: Boston-based Elucids cardiovascular imaging software PlaqueID was cleared by the FDA. Duggans fortune saw a huge bump as shares of his biotech firm Summit Therapeutics have soared thanks to good news about a drug candidate to treat a type of lung cancer.