Hikma Ventures- $20.5m Series C round for Prognos
Hikma Ventures participates in a $20.5 million Series C round for Prognos
London, 30 November 2017 - Hikma Pharmaceuticals PLC (Hikma) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), (rated Ba1 Moody's / BB+ S&P, both stable) announces that its venture capital arm, Hikma International Ventures and Development LLC (Exempt) (Hikma Ventures) has participated in a $20.5 million series C round of financing for Prognos alongside Merck Global Health Innovation Fund, Safeguard Scientifics, Guardian Health, Cigna, and other investors.
Prognos leverages clinical diagnostic data and Artificial Intelligence (AI) to develop advanced analytics solutions for the payer, diagnostics, and life science markets. The Prognos Registry of 13 billion clinical records for 180 million patients in over 50 therapeutic areas enables earlier identification of patients who can benefit from enhanced treatment decision-making, risk management, and quality.
Lana Ghanem, Managing Director of Hikma Ventures, said, "We are excited to work with the highly qualified Prognos management team that has extensive experience in both the healthcare and technology industries. This investment is in line with our mission to focus on the patient journey and help in early detection of disease. In addition, we are enthusiastic about the expansion potential of this technology both geographically and operationally."
"For Prognos, Series C is a focused and disciplined effort to build on our success to scale the business as we pursue our mission of predicting disease earlier to drive better outcomes for patients," said Sundeep Bhan, Co-founder and CEO of Prognos. "We are excited to be partnering with Hikma in exploring expansion opportunities globally, especially in the Middle East and North Africa, to deliver better patient care and lower costs."
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Enquiries
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Hikma Pharmaceuticals PLC |
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Lana Ghanem, Managing Director, Hikma Ventures |
+962(0)6 5802900/ +962 79 8579391 |
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Susan Ringdal, VP Corporate Strategy and Investor Relations |
+44 (0)20 7399 2760/ +44 7776 477050 |
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FTI Consulting |
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Ben Atwell/ Brett Pollard |
+44 (0)20 3727 1000 |
About Hikma
Hikma Pharmaceuticals PLC is a multinational pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma's operations are conducted through three businesses: 'Injectables,' 'Generics' and 'Branded,' based primarily in the Middle East and North Africa (MENA) region, where it is a market leader, the United States and Europe. In 2016, Hikma achieved revenues of $1,950 million and profit attributable to shareholders of $155 million.
About Hikma Ventures
Founded in August 2015, Hikma Ventures operates as the corporate venture capital arm of Hikma Pharmaceuticals. Hikma Ventures invests in global start-ups where Hikma's expertise can accelerate revenue growth and enhance value creation by providing ventures with access to the resources of a multinational pharmaceutical company. For more information, visit www.hikmaventures.com
About Prognos
Prognos is a healthcare AI company focused on predicting disease to drive decisions earlier in healthcare in collaboration with payers, Life Sciences and diagnostics companies. The Prognos Registry is the largest source of clinical diagnostics information in 50 disease areas, with over 13B medical records for 180M patients. Prognos has 1000 extensive proprietary and learning clinical algorithms to enable earlier patient identification for enhanced treatment decision-making, risk management and quality improvement. For more information, visit www.prognos.ai
This information is provided by RNS
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