Faster synthesis and analysis of healthcare data get medical innovations to market faster. By harnessing AI, big data, machine learning, and predictive analytics, this startup is doing just that for medical device and pharmaceutical companies.
"This is insane," exclaimed Wu. Vital healthcare information that could be mined to provide insights into how to develop life-saving medical innovations faster and at a lower cost was available but in arcane, black-box computer systems."There has to be a better way," Wu thought.
In 2020, Wu and her cofounder KK , raised $523,000 in pre-seed funding from former Google, Amazon, big pharma, and MedTech executives and launched Nyquist. The startup aggregated medical data worldwide and then connected the dots, making the information valuable to analysts, R&D departments, and commercial teams in pharmaceutical and medical device companies.
Working collaboratively with prospects and customers like Medtronic, Nyquist has discovered new uses for its platform. During a pitch call with Medtronic, an executive asked if the platform could be used to research supply-chain factories. Within a few moments, Medtronic had a list. There was silence and Wu thought the video had frozen. Then she heard mumbling and paper rustling from the Medtronic side of the call. Shortly after the call, Nyquist had a new customer.
"It's the way they're harnessing natural-language processing, AI, and machine learning to ingest and organize data to surface insights is incredibly powerful," said Stern."With the click of a button, you can look at the equivalent of FDA data in Japan, China [and many more countries]."
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