Healthcare startups could encompass many different sectors of the industry. It could be a new service, a product, or a software company. A few emerging companies have caught the attention of healthcare professionals. Here are a few healthcare startups to watch for in 2019.
Founded back in 2015 by Alice Zhang and Jason Chen, Verge Genomics is working on streamlining the medical trial process. Testing new drugs is an expensive process and does not always work. Billions of dollars are spent on research and development and FDA approval for successful products. This company uses artificial intelligence to determine the likelihood of success for drug approval. This technology can help figure out which drugs with advance to the FDA approval process and which drugs they should abandon. This technology could save billions of dollars for drug testing in the future.
This company based in the United Kingdom was found in 2014. They focus on rare diseases and use artificial intelligence to determine is existing drugs can be repurposed for curing rare diseases. Healx is considered one of the most innovative healthcare startups to date due to their record time in developing drugs. Healx takes 80 percent less time to start human trials than a typical drug manufacturer. The company owns HealNet which holds a large database filled with over a billion interactions with rare diseases.
Embleema not only developed a technology that could share patients information with researchers everywhere but made it comply with HIPAA guidelines. The technology is a healthcare blockchain network where patients can share their medical records with researchers. Patients can be paid using cryptocurrency in exchange for the medical data. This newer company which was founded in New York in 2017, has made great strides in the industry.
A newer blockchain technology company appeared in 2018, allowing their users to sell their data to big pharma while cutting out the middleman. Users create their own profile that pharma researchers can search for to participate in certain medical studies or trials. They have developed a mobile app that will allow users to sell or lease certain medical data whether it is for research or marketing purposes. Hu-manity.co has the possibility to increase the transparency of medical records in the marketplace.