Lloyd's, the world's leading insurance market, has granted approval to MCI Syndicate 1966 to offer insurance for clinical trials, facilitated by GATC's MAT AI platform, to greatly reduce the financial risk in therapeutic drug development.

IRVINE, Calif. and LONDON, July 22, 2024 /PRNewswire/ -- Medical and Commercial International Limited (MCI) a leading specialized liability underwriting company in the London market and GATC Health Corp, a technology company advancing drug discovery using artificial intelligence, have established a groundbreaking program that is poised to transform how clinical trials are financed. This first-of-its-kind initiative, which has been approved by Lloyd's of London, will offer the biotech industry insurance coverage for clinical trial funding in the event of trial failure. Enabled by GATC Health's proprietary AI technology, which forecasts clinical trial endpoints, this new insurance model significantly mitigates financial risks inherent in medical innovation and research, thereby bolstering the growth of therapeutic drug development.

GATC Health's patented AI helps detect diseases earlier and create safer, more effective drugs by mimicking the complex interactions of human biology.

"Clinical trial funding insurance is a revolutionary new insurance product with huge unmet demand, and access to Lloyd's will allow MCI to capitalize on this opportunity," said MCI CEO Phil Trafford. "Working side-by-side with lenders and investors, this new program will promote medical innovation and promises a level of risk assessment accuracy unparalleled in the industry."

Biotech entrepreneurs, investors and innovators are challenged in securing funding for their drug development projects without diluting their equity and compromising control of their company. This new program, supported by GATC Health's technology, directly addresses the financial challenges and obstacles inherent to early-stage drug development companies. This innovative approach will enhance clinical trials' risk selection process significantly to bring a greater number of therapeutic drugs to market.

"GATC's AI has enabled this first-of-a-kind combination of financing protected by insurance in case the clinical trial is not successful," said Ben Canagaretna, Global Managing Director of Acrisure Re Corporate Advisory & Solutions ("ARCAS"), the international financing and consulting firm responsible for program sales and distribution. "The early response from biotech companies and large brokerage firms for this product has exceeded our expectations which represents the pent-up demand for this innovative financing program."

"GATC Health is focused on using artificial intelligence technology to develop more efficacious and safer drugs in less time and with less money," said John Stroh, GATC Health CEO. "Through our new relationship with MCI, backed by Lloyd's, we aim to transform the drug development financial model to bring safer and more effective treatments to those who are suffering from acute medical conditions," added Mr. Stroh.

The collaboration between MCI and GATC, backed by Lloyd's is a major development in the insurance industry, promising to reshape the landscape of clinical trial funding. With Lloyd's endorsement, stakeholders in the biotech industry can enhance risk management and further unlock groundbreaking medical innovations.

GATC's Multiomics Advanced Technology (MAT) platform uses proprietary AI and machine learning to simulate complex human physiology and accurately predict the efficacy, safety, and off-target impact (side effects) of a novel pharmaceutical asset to any specific disease. The application of this technology significantly increases the likelihood of clinical trial success. In just two years, GATC Health's MAT platform has discovered and tested seven drug candidates with the capacity to create 10 to 12 novel molecules each year.     

About Lloyd's
Lloyd's is the world's leading marketplace for insurance and reinsurance. Through the collective intelligence and expertise of the market's underwriters and brokers, we're sharing risk to create a braver world. The Lloyd's market offers the resources, capability, and insight to develop new and innovative products for customers in any industry, on any scale, in more than 200 territories. We're made up of more than 50 leading insurance companies, over 380 registered Lloyd's brokers and a global network of over 4,000 local coverholders. Behind the Lloyd's market is the Corporation: an independent organization and regulator working to maintain the market's successful reputation and operation.

About MCI
Medical & Commercial International (MCI) specializes in underwriting international liability risks.  Its management and underwriting team have extensive experience of the international insurance market and have worked with companies ranging from start-ups to some of the largest corporate and public entities in the world.

About Acrisure Re | ARCAS
Acrisure Re is a premier global reinsurance broking and advisory firm, renowned for its innovative placements for complex and technical books of business. Operating in key international markets, Acrisure Re partners with major insurance companies to achieve corporate risk management goals through tailored reinsurance and insurance portfolio solutions.

Acrisure Re Corporate Advisory and Solutions (ARCAS) supports insurers and reinsurers globally in achieving strategic goals and optimizing capital. ARCAS offers a distinct blend of insurance, banking, ratings agency, and capital markets expertise. The team, including former C-suite executives and professionals including investment bankers, research analysts, ex-institutional investors, capital raisers, rating agency experts, actuaries and insurance and reinsurance underwriters, prioritizes deep client understanding and collaborative problem-solving to deliver effective solutions. Learn more at www.acrisurere.com.

About GATC Health
GATC Health Corp, www.gatchealth.com, is a technology company revolutionizing disease prediction and drug discovery and development through its transformative AI platform and approach, which de-risks drug pipelines and accelerates new therapies to treat disease with accuracy, efficiency and speed never achieved in medical science. The company's validated and proprietary Multiomics Advanced Technology (MAT) platform simulates human biochemistry's billions of interactions for accurate and rapid disease prediction, novel target identification, and drug discovery and development. GATC Health envisions the future of medicine now, where health is protected, disease is reversed, and every person's unique biology is treated with precision.

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