PBR Life Sciences is a big data aggregator in the life sciences and healthcare industry. It has raised $1M in order to transform healthcare in Africa using Artificial Intelligence and Machine Learning.
The funding came from Launch Africa and Microtraction as well as Octerra Capital, Marula Square and ARM Labs. This highlights the global significance of their innovative approach to healthcare analytics and big data. Ayodeji Aran, CEO and founder, said that being backed by some the most reputable venture investors and angels from Africa inspires him to do more. It also validates the need to close the gap between inadequate real-world healthcare big data and AI that will power innovation and AI for the sector, while unlocking global growth in life sciences that will be powered in the region. “With this new capital, we’re now well-positioned to achieve our ambitious plan with a laser-focus on profitability,” he concluded.
PBR Life Sciences, founded by Ayodeji Aran, a University of Lagos trained pharmacist and a London Business School MBA graduate, pivoted to big data and analytics after identifying significant industry gaps in 2021. It offers a wide range of companies in Africa, Europe and America, including pharmaceutical, medical device, consumer healthcare, consulting firms and research institutions, easy and fast access to real-world healthcare data. PBR Life Sciences, led by a former executive from GSK, Pfizer and AstraZeneca and backed by a former executive of GSK, Pfizer and AstraZeneca has pioneered AI infrastructure in Africa using anonymized healthcare data. The startup has grown dramatically in the last year. Revenue has increased by 200% and its proprietary database now contains data points on over 50 million pharmaceutical products, 10,000 brands, and insights on market performance for more than 1,500 firms. Its AI infrastructure can now transform millions of data in just minutes, instead of months.
This company was one of twelve (12) startups who participated in the second cohort ARM Labs Lagos Techstars Accelerator Programme. Its real-world Data-as a-Service platforms help its clients and users make data-backed decision on product pricing and forecasting, new product developments, disease and treatment intervention, healthcare financing, and company strategy.
We are proud to support PBR Life Sciences via the ARM Labs Lagos TechStars Accelerator Program where they demonstrated exceptional vision, said Damilare Messimo at ARM Labs. This milestone reflects the company’s ability to use real-world data and AI in order to transform decisions in the life sciences industry. We are committed to nurturing startups such as PBR, which drive impactful solutions. We are excited to watch their continued growth in Africa and beyond.
This investment will help scale the company’s data-as a service platforms in Nigeria. It will also help its expansion into Ghana, Kenya and other emerging markets to replicate its proven business model. The company wants to expand its offerings as a provider of multivariate, real-world healthcare big data analytics, technology and consulting in Africa and other developing markets, supporting life sciences industries.
The pharmaceutical industry and life sciences in emerging markets such as Asia, Africa and Latin America, worth $281billion is expected to grow at higher rates, often exceeding 8-10% per year, compared to the 3-5% growth rate in developed markets. Yet, these regions have the least amount real-world, big data for effective commercial planning and research. PBR Life Sciences aims to close the gap by 2030 by becoming a leading provider in emerging markets of real-world healthcare big data and analytics.
Uwem Uwemakpan (Head of Investments) at Launch Africa: “PBR’s innovative solution to a critical healthcare problem in Africa, coupled with its strong founding teams and substantial market opportunities, establishes PBR as a key actor in enhancing healthcare on the continent.” We are excited to join this journey.”
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