Dorsey client Mayo Clinic and Cambridge, Massachusetts-based nference recently announced the formation of Qrativ. Qrativ will combine nference’s artificial intelligence (AI) knowledge synthesis platform with Mayo Clinic’s medical expertise and clinical data to discover and develop treatments for diseases with unmet medical need. This effort is being boosted by an $8.3 million Series A financing supported by Matrix Capital Management, Matrix Partners and Mayo Clinic. The new venture will work with drug companies to discover whether molecules researched for treatment of one disease can effectively treat other conditions.
Qrativ is the latest in a series of complex joint ventures and investments that Dorsey has worked on with Mayo Clinic in recent years, most of which have not been publicly announced. The publicly announced ventures have included Vitruvian Networks, Inc. (an independent platform company committed to accelerating access to cell and gene therapies through advanced, cloud-ready software systems and manufacturing services) formed by Mayo Clinic and GE Ventures in 2016 and Vitesse Biologics (a unique collaboration model focusing on the development of antibody and protein-based therapeutics in immunology, hematology and oncology) formed by Mayo Clinic, Baxter Ventures and Velocity Pharmaceutical Development in 2015.
Click here to read Mayo Clinic’s full press release on the Qrativ joint venture.
Categories: COMPANIES
