Barcelona located MedTech start-up which specializes in transforming EHR (Electronic Health Record) into structured data to support clinical research, IOMED, announced on 3rd September, 2020, that it has secured €2 million in a funding round. The round was led by Venture Capital fund Adara Ventures. Many existing investors also participated in the company including Austria based Speedinvest and Spain based EASO Ventures.
The technology used by IOMED is majorly based on Natural Language Processing and Artificial Intelligence to enable hospitals transforming information written in medical records in free text format into structured and coded data. This helps the potential of hospitals to accelerate their clinical research & maximize research results.
Established in the year 2016, IOMED partners with hospitals throughout the country. The company claims to run their projects in 27 Spanish centers including renowned hospitals like Cruces-Biocruces Bizkaia University Hospital in the Basque Country, the Hospital del Mar based in Barcelona and Vall d’Hebron Hospital among others.
Among the latest projects executed by the start-up one is the study on Covid-19 that is presently being implemented in the hospitals within several Autonomous Communities.
The fundamental goal of the examination is to shed an insight into the coronavirus by figuring out which group of the population is more prone to the virus, how therapies are managed without approved treatments, which treatments are best; what contrasts are there with respect to these issues in correlation with different sorts of pneumonia; or what factors assist us with foreseeing who will be contaminated, hospitalized and what number of deaths there will be.
Partner at Adara Ventures, Rocío Pillado, explained, “IOMED is changing the rules of the games with its Artificial Intelligence and Natural Language processing based technology, contributing an enormous value through the streamlining of lengthy procedures of data collection that usually impose barriers on a high percentage of clinical studies”.
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