Hikma Ventures invests in Winterlight Labs
Source: Prn newswire
Hikma Pharmaceuticals announced that its venture capital arm, Hikma Ventures has led a C$ 5.6 million ($4,219,880. million) oversubscribed round of financing for Winterlight Labs Inc. with participation from First Star Ventures, Pacific Health Ventures, existing investor Grey Sky Venture Partners and other investors.
Toronto-based Winterlight Labs Inc. is developing a proprietary Artificial Intelligence (AI) technology that melds computational linguistics, cognitive neuroscience, and machine learning to help healthcare professionals assess and analyse patients' cognitive health – including memory, thinking and reasoning – from vocal markers captured in short snippets of speech on a tablet computer. Using a one-minute sample of a patient's natural speech, Winterlight's novel approach can quickly and accurately detect various cognitive and mental disorders, such as dementia and aphasia amongst others, and then monitor the efficacy of treatments.
Lana Ghanem, Managing Director of Hikma Ventures, said, "We are very excited to enter into the field of vocal diagnostics by leading the investment in Winterlight Labs. We recognise the global potential of voice analysis for the diagnosis, monitoring and ongoing treatment of various diseases and look forward to working with the team and our co-investors to help advance the technology and expand disease areas and geographies covered, especially in the Middle East and North Africa."