Israel-based mental health startup, Taliaz has been awarded €2.3 million ($2.7 million) funding from the European Union (EU) Horizon 2020 programme.
Taliaz uses AI and data science for its mental health treatment management and decision-support platform, PREDICTIX.
WHY IT MATTERS
Today, more than 84 million people suffer from mental health disorders in Europe. According to The Lancet Infectious Diseases, mental health conditions account for about 13% of the global burden of disease.
In the field of depression, the right antidepressant is only prescribed in 49% of cases. This can lead patients to suffer up to 6-18 months while trialing different treatments.
By combining data science and machine learning with clinical and biological scientific research, the PREDICTIX mental health platform translates data combinations into an assessment and management software to facilitate patient prescribing decisions.
The grant will support clinical research expansion and the ongoing development of PREDICTIX.
The research will focus on further validating the efficacy of the PREDICTIX platform in depression in multiple EU countries.
THE LARGER CONTEXT
Koa Health, a digital mental health company, spun out of Telefonica, recently raised $16.5 million (€14.1) in Series A funding to expand its mental health apps across Europe, US and Asia.
Also in the latest mental health news, the FDA granted NightWare a De Novo clearance for its Apple Watch and iPhone app designed to improve the sleep quality of those experiencing nightmares related to PTSD.
ON THE RECORD
Dekel Taliaz, CEO and co-founder of Taliaz said: “We are excited to receive the prestigious Horizon 2020 grant. The funding from the European Commission endorses the strong science behind our approach. This is especially important as mental health rises across the globe during the COVID-19 pandemic. The funds will support our mission to improve patient wellbeing and reduce associated costs by ensuring every patient gets the right mental health treatment, the first time.”