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Briya Raises $11.5M Series A, Accelerates U.S. Rollout of Blockchain-Secured Data Exchange Platform to Enhance Collaboration Between Hospitals and Life Sciences
News provided byBriya
Sep 19, 2023, 9:00 AM ET
Briya Enables Hospitals to Increase Revenue While Research Organizations Capitalize on Most Comprehensive Anonymized Data to Develop and Implement Patient Treatments
NEW YORK, Sept. 18, 2023 /PRNewswire/ -- Briya, an end-to-end healthcare data exchange platform, today announced completion of an $11.5 million Series A round of financing, bringing the company’s total funding to $17 million. The round was led by Team8, includes existing investors Insight Partners and Amiti Ventures, and is joined by the George Kaiser Family Foundation.
The funding will support Briya's mission to transform how data is exchanged between healthcare organizations and life sciences organizations, with particular emphasis on supporting the United States health ecosystem. The company's scalable data exchange platform enables hospitals to capitalize on their patient data. It has been implemented in healthcare systems and academic institutions, primarily in Europe and Israel.
"By implementing Briya's data platform, we can now quickly access relevant clinical and radiological data from various sources in mere seconds," said Dr. Jawed Nawabi, a radiology specialist at the Institute of Neuroradiology at Charité – Universitätsmedizin Berlin, a Newsweek Top 10 global hospital, and Digital Clinician Scientist Fellow at the Berlin Institute of Health at Charité (BIH). "This has not only increased our efficiency in clinical research but also improved our collaboration within our international research network, thanks to a decentralized approach, enhanced data security, and increased transparency in data processing. It ultimately enhances interoperability and data quality."
The Briya platform connects clinics and hospitals with academic and pharmaceutical research teams, addressing the primary challenges faced by organizations in the collection and exchange of healthcare data. The highly secured data exchange empowers hospitals to effectively utilize their health data and safely share it, in compliance with all regulatory guidelines. At the same time, it provides life sciences organizations seamless access to high-quality, de-identified real-world data to expedite development and time-to-market for new therapies.
"Briya has developed the only end-to-end solution currently on the market that streamlines the entire process of data sharing between healthcare organizations and life sciences organizations. It not only handles discovery, formatting, de-identification, and securing transfer of data, but also solves operational hurdles such as contracting, payments and approvals," said Sarit Firon, Managing Partner of Team8, leading the group's investment arm. "This unique end-to-end vision, coupled with its cutting-edge technology, makes us confident that Briya will significantly improve the healthcare industry's ability to make positive use of clinical data."
Briya's scalable blockchain-powered system standardizes all forms of electronic health records, enabling streamlined access to and exchange of live, anonymized healthcare data for life sciences organizations. The technology facilitates optimal use of a range of AI and machine learning tools, real-world data, and health economics studies to optimize clinical trials, ensure regulatory compliance, and accelerate drug discovery.
The timing of the funding highlights the confidence stakeholders have in the value Briya brings to the market by enabling healthcare organizations, researchers and pharmaceutical organizations to efficiently exchange real-world healthcare data.
"Despite the abundance of available healthcare data, the fragmented nature of the current system, combined with complex compliance issues and a lack of standardization, means healthcare organizations face significant challenges in sharing their data with pharmaceutical and research partners, impeding medical research and care," said David Lazerson, CEO and Co-founder of Briya. "Briya's data exchange platform provides a scalable and secure model that allows hospitals to take full advantage of all that patient data has to offer, with minimal additional effort, to promote greater collaboration while generating lucrative revenue streams."
"Privacy and speed are top priorities when it comes to digital health and Briya provides both the confidentiality and fast queries simultaneously. It is the most comprehensive decentralized data platform we have seen in recent years, helping us establish smart contracts to share data and reduce data storage costs," said Janet Meiling Wang-Roveda, professor of Electrical and Computer Engineering at the University of Arizona. "We expect to see Briya adopted as a scalable data exchange solution in institutes, hospitals, and organizations across the U.S. in the near future."
Prof. Ronni Gamzu, CEO of the Tel Aviv Sourasky Medical Center, said: "Briya has enabled us to concentrate on pioneering research and innovation while fostering strategic partnerships with academia and the industry – all vital elements for our continued relevance in the age of AI. It has become an integral part of the hospital's legacy of excellence, as well as the broader Israeli innovation ecosystem."
Briya is a blockchain-secured data exchange platform that enables healthcare organizations to share anonymized patient data efficiently, securely, and compliantly, while generating new revenue streams. It facilitates the quick retrieval of accurate information by converting healthcare data into FHIR or OMOP standards and seamlessly de-identifying queried data. This access to high-quality real-world data promotes research collaboration and facilitates effective data analysis in life sciences and healthcare.
Briya was one of 10 startups selected for the 2022 Intel® Ignite accelerator program, among the 2022 intake for the Nashville Entrepreneur Center's Project Healthcare Showcase, and participated in UC Berkeley's Health Engine accelerator.
For more information, visit: briya.com
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