London, 30 November 2017 – Hikma Pharmaceuticals PLC (Hikma) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), (rated Ba1 Moody’s / BB+ S&P, both stable) announces that its venture capital arm, Hikma International Ventures and Development LLC (Exempt) (Hikma Ventures) has participated in a $20.5 million series C round of financing for Prognos alongside Merck Global Health Innovation Fund, Safeguard Scientifics, Guardian Health, Cigna, and other investors.
Prognos leverages clinical diagnostic data and Artificial Intelligence (AI) to develop advanced analytics solutions for the payer, diagnostics, and life science markets. The Prognos Registry of 13 billion clinical records for 180 million patients in over 50 therapeutic areas enables earlier identification of patients who can benefit from enhanced treatment decision-making, risk management, and quality.
Lana Ghanem, Managing Director of Hikma Ventures, said, “We are excited to work with the highly qualified Prognos management team that has extensive experience in both the healthcare and technology industries. This investment is in line with our mission to focus on the patient journey and help in early detection of disease. In addition, we are enthusiastic about the expansion potential of this technology both geographically and operationally.”
“For Prognos, Series C is a focused and disciplined effort to build on our success to scale the business as we pursue our mission of predicting disease earlier to drive better outcomes for patients,” said Sundeep Bhan, Co-founder and CEO of Prognos. “We are excited to be partnering with Hikma in exploring expansion opportunities globally, especially in the Middle East and North Africa, to deliver better patient care and lower costs.”