Medical & Commercial International (MCI) to Utilize GATC Health's AI Platform to Launch World's First Insurance-Backed Program to Finance Clinical Trials USA - English USA - Deutsch USA - Français USA - English
The Californer/10286202

IRVINE, Calif. and LONDON, July 22, 2024 ~ London, UK - Medical and Commercial International Limited (MCI), a leading specialized liability underwriting company, has joined forces with GATC Health Corp, a technology company utilizing artificial intelligence in drug discovery, to launch a groundbreaking program that will revolutionize the financing of clinical trials. This first-of-its-kind initiative, approved by Lloyd's of London, will provide insurance coverage for biotech companies in the event of trial failure.

The partnership between MCI and GATC Health aims to mitigate the financial risks associated with medical innovation and research. By utilizing GATC Health's proprietary AI technology, which accurately forecasts clinical trial endpoints, this new insurance model will significantly enhance risk assessment and promote the growth of therapeutic drug development.

MCI CEO Phil Trafford expressed excitement about this new venture, stating that "clinical trial funding insurance is a revolutionary product with high demand in the market." He believes that working alongside lenders and investors, this program will not only support medical innovation but also provide unparalleled risk assessment accuracy.

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The biotech industry has long struggled with securing funding for drug development projects without compromising equity or control of their company. This new program addresses these challenges by utilizing GATC Health's technology to enhance the risk selection process and bring more therapeutic drugs to market.

Ben Canagaretna, Global Managing Director of Acrisure Re Corporate Advisory & Solutions (ARCAS), an international financing and consulting firm responsible for program sales and distribution, praised GATC Health's AI technology for enabling this unique combination of financing and insurance. He also noted that the response from biotech companies and large brokerage firms has exceeded expectations, highlighting the pent-up demand for innovative financing programs.

GATC Health CEO John Stroh emphasized their focus on using AI technology to develop safer and more effective drugs in less time and with less money. Through their partnership with MCI backed by Lloyd's of London, they aim to transform the financial model of drug development and bring better treatments to those in need.

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This collaboration between MCI and GATC Health, with the backing of Lloyd's, marks a significant development in the insurance industry. It promises to reshape the landscape of clinical trial funding and provide stakeholders in the biotech industry with enhanced risk management tools to unlock groundbreaking medical innovations.

GATC Health's Multiomics Advanced Technology™ (MAT) platform, which utilizes AI and machine learning to simulate human physiology, has already shown promising results. In just two years, it has discovered and tested seven drug candidates with the potential to create 10 to 12 novel molecules each year. With this technology, the likelihood of clinical trial success is significantly increased.

The launch of this program marks a new era in clinical trial financing, where innovative technology and insurance come together to support medical innovation and bring life-changing treatments to those who need them most. With Lloyd's endorsement, this partnership between MCI and GATC Health is set to transform the drug development landscape for years to come.

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