Verantos Receives Grant Award from the National Science Foundation

PALO ALTO, Calif., June 17, 2021 /PRNewswire/ -- Verantos has received a grant from the National Science Foundation (NSF) to conduct research and development on real-world evidence (RWE) outcomes. This cooperative agreement will enable accurate identification of clinical outcomes from routinely collected data to further advance RWE. The two-year study will leverage artificial intelligence and data from heterogeneous sources.

"The NSF is known for supporting innovative, cutting-edge ideas that have the potential to make huge societal impacts," said Dan Riskin, MD, CEO of Verantos and Principal Investigator on the grant. "This award reflects the great need in the healthcare industry to understand outcomes in real-world settings to better tailor therapy for future patients."

Widely considered the market leader in high-accuracy RWE generation, Verantos offers a platform that leverages artificial intelligence and advanced data sources to generate RWE capable of supporting clinical assertions. As pharmaceutical firms increasingly look to RWE to support clinical, regulatory, and payer decision-making, high-validity evidence and accurate identification of clinical outcomes are a critical part of all studies.

"NSF is proud to support technologies of the future by thinking beyond incremental developments and funding the most creative, impactful ideas across all markets and areas of science and engineering," said Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. "With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs." 

Support for this new cooperative agreement is provided by the National Science Foundation's Small Business Innovation Research Program, under Award Number 2024958. The grant follows Verantos' successful completion of feasibility research under a separate NSF award.

About Verantos:
Verantos is the market leader in high-accuracy real-world evidence generation. The Verantos RWE platform integrates heterogenous real-world data sources and generates evidence with the accuracy necessary for regulatory and reimbursement use. The Verantos RWE platform leverages data science and artificial intelligence along with advanced data sources such as electronic health records to generate RWE capable of supporting clinical assertions.

About the National Science Foundation's Small Business Programs: America's Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $2 million in funding to support research and development (R&D), helping de-risk technology for commercial success. America's Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $8.5 billion that supports fundamental research and education across all fields of science and engineering. 

Contact:
Amy Roberts
Email: [email protected]
Phone: 435-659-1164

SOURCE Verantos