AI company Prognos raises $20.5M series C round

Artificial intelligence company Prognos (New York, N.Y.) raised $20.5 million in a series C round that including backing from new investors Cigna, GIS Strategic Ventures, Hermed, Hikma Ventures and Maywic. Existing investors Merck Global Health Innovation Fund (GHIF) and Safeguard Scientifics Inc. (NYSE:SFE) also participated in the round, which brings Prognos' total capital raised to $42 million.

Prognos CEO Sundeep Bhan told BioCentury that the company will use the funds to expand its Life Sciences portfolio to new audiences with "some combination of existing and new products." Bhan said the company is also working with clients on NextGen marketing initiatives...