The next wave of drug discovery is being enabled by artificial intelligence (AI). This fact has not been lost on investors, who are keeping a close watch on emerging biopharma companies that are using AI and machine learning to enable the discovery of next-generation medicines.

For biopharma, 2019 can be described as a terrific year – with a few asterisks. The financial markets were flourishing, with venture capital dollars, in particular, flowing to the sector, while dealmaking reached historic proportions. Meanwhile, scientific breakthroughs led the way as cell and gene therapies gained ground, the first signs of success emerged with new technologies like CRISPR and the long-awaited promise of genomics found its way to the front lines of health care.

Machine learning and artificial intelligence (AI) are already being actively used in drug discovery to evaluate potential binding of small-molecule drugs to proteins, but there's potential for the technologies to be used on the development side as well, especially in hard-to-treat diseases such as Alzheimer's disease.

Caresyntax GmbH, a Berlin-based provider of surgical automation, analytics and AI software technologies, picked up $45.6 million in venture funding. The funds will be used to accelerate U.S. and global expansion and support continued development and deployment of Caresyntax products. Participating in the financing were Whiz Partners, a Takeda-back drug discovery gateway investment limited partnership, Plug and Play Tech Center, Barco Healthcare, Mitsubishi Corp., Relyens, IPF Partners and Caresyntax founders Dennis Kogan and Bjoern von Siemens.

A neuropsychologist consult is typically the first step for a neurologist in aiding in the diagnosis and monitoring of neurological conditions. But timely appointments for an assessment by these specialists can be difficult to obtain, even under the best of circumstances. To better enable neurologists to assess which patients are most in need of a consultation with a neuropsychologist, Royal Philips NV has launched an artificial intelligence (AI)-based cognitive assessment tool in the U.S. Known as Philips Intellispace Cognition, the digital, cloud-based assessment tool takes established neuropsychological tests and enables their administration by a medical assistant via a tablet in an office setting.