Funding for AI Drug Development Skyrockets in 2021

16th August 2021 – Written by Imogen Fitt – Featured on the Science Advisory Board – The market for artificial intelligence (AI) in drug development and clinical trials has seen renewed interest in recent months, with total funding in the industry now reaching $10.7 billion, according to a report published by U.K. market insights firm Signify Research.

Following a slower period in 2019 and 2020 on account of market uncertainty and the COVID-19 global pandemic, the industry has seen an uptick in interest and capital funding for both emerging and late-stage vendors (which often cite oversubscribed rounds).