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Company intends to expand AI and predictive clinical trial intelligence throughout the Asia-Pacific region.
Lokavant announced that it has received an $8 million strategic investment from Mitsui & Co. to expand its AI-optimized platform across the Asia-Pacific region. As part of the investment, the company intends to open a new regional headquarters in Tokyo. According to a company press release, the investment is the result of a yearlong effort between the two companies, with Mitsui pledging to provide operational support, including business development, staffing, and product localization to expand Lokavant’s range in the region.
“Lokavant’s platform has driven significant value to pharmaceutical sponsors and CROs on global clinical trials, and with exceptional validation of the platform in Japan, it is a natural next step to launch Lokavant Asia,” said Rohit Nambisan, CEO, co-founder, Lokavant. “With a distinguished track record in international business and a rapidly growing reputation in life sciences innovation, Mitsui & Co is the ideal strategic partner for the creation of Lokavant AsiaPac.”
Reference: Lokavant Announces $8M Strategic Investment from Mitsui & Co. to Expand AI and Predictive Clinical Trial Intelligence into Asia-Pacific. Business Wire. October 3, 2023. Accessed October 3, 2023. https://www.businesswire.com/news/home/20231003076721/en/Lokavant-Announces-8M-Strategic-Investment-from-Mitsui-Co.-to-Expand-AI-and-Predictive-Clinical-Trial-Intelligence-into-Asia-Pacific