Business
Investment in Talking Medicines Limited
Investment in Talking Medicines Limited.
About this update from Tern Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2083E\n Tern PLC\n 04 November 2020\n \n \n \n \n 4 November 2020\n \n \n \n \n \n Tern Plc\n \n \n (\"Tern\" or the \"Company\")\n \n \n \n \n \n Investment in digital health data company Talking Medicines Limited\n \n \n \n \n \n Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things (\"IoT\"), is pleased to \n announce \n an investment of £860,000 for a 23.4% holding in Talking Medicines Limited (\"Talking Medicines\"). Tern is the lead investor in this syndicated funding round of an aggregate of £1.1 million alongside the Scottish Investment Bank, Scottish Enterprise's investment arm, who is following its initial investment.\n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Talking Medicines, based in Glasgow and London, uses advanced artificial intelligence and machine learning techniques to provide pharmaceutical companies with real-time data intelligence.\n \n \n ·\n Talking Medicines looks to capture the \"global digital voice\" of the patient from numerous unstructured online sources to provide actionable intelligence to its customers, aimed at transforming big pharma's understanding of patient sentiment.\n \n \n · \n Talking Medicines will use the funds to grow its product team in order to launch its new artificial intelligence data service, with a view to rapidly scaling its patient database and broadening its customer base.\n \n \n ·\n This investment represents the second IoT healthcare investment by Tern and expands Tern's participation in the rapidly growing digital health market.\n \n \n ·\n The investment in Talking Medicines provides the Tern portfolio with access to artificial intelligence (\"AI\"), machine learning (\"ML\") and natural language processing (\"NLP\") technologies.\n \n \n · \n The transaction is in line with the Company's strategy to increase the breadth of its portfolio and brings the number of Tern's portfolio companies to six.\n \n \n · \n The investment will be funded from Tern's existing cash resources.\n \n \n \n \n \n Talking Medicines\n \n \n \n \n \n Talking Medicines, based in Glasgow and London, uses advanced AI and ML to provide pharmaceutical companies with real-time data intelligence. The company uses a collection of AI, ML and NLP tools to capture and structure the global di...