New investee company added to portfolio
Tern has expanded its portfolio of Internet of Things (IoT) companies to six by making a £0.86m investment in digital health data company Talking Medicines, funded from its existing cash resources. This is Tern’s second IoT healthcare investment, broadening its participation in the rapidly growing digital health market. The investment in Talking Medicines also provides the Tern portfolio with access to artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) technologies, which it uses to provide pharmaceutical companies with real-time data intelligence. Talking Medicines will use the funds to grow its product team in order to launch its new AI data service, aiming to rapidly scale its patient database and broaden its customer base. Its vision is to create the world’s leading source for organising the voice of the patient by specific drug, transforming pharmaceutical companies’ understanding of patient sentiment.