Israeli mental health startup awarded $2.7 million EU grant for AI solution
The grant aims to support further clinical research and development of the company’s mental health platform
Israeli health startup Taliaz Health Ltd. announced on Tuesday that it has been awarded a $2.7 million grant from the European Union’s Horizon 2020 program. The Israeli company engineered a mental health platform that changes the way patients receive treatment by incorporating AI into their product, PREDICTIX. The EU Horizon 2020 Grant is a financial funding project spearheaded by the European Union to increase scientific innovation across Europe, specifically for projects which improve society. The grant was given to Taliaz to assist it in expanding its clinical research to Europe and further improve mental health, specifically focusing on how its product can help combat, treat, and manage patient depression in several EU countries.
According to recent data, over 84 million people have mental health disorders in Europe alone, yet many remain untreated. In severe cases, patients can suffer for over a year if they are prescribed the wrong antidepressant medication as is done in some 49% of cases. Taliaz’s platform PREDICTIX is a software that uses AI to examine and study patient records, while providing psychiatrists and healthcare professionals with the tools to improve patient treatment including those who have hard to treat disorders, and peruses genetic, metabolic, demographic, and clinical data, providing suggestions for patient treatment.
Taliaz's PREDICTIX software uses AI to treat mental health issues. Photo: Taliaz
Dekel Taliaz, the company’s co-founder and CEO, noted the importance of treating mental health particularly amid the coronavirus (Covid-19) pandemic. “Mental health issues are rising 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,” he said.
Taliaz is raising additional investments to expand its efforts and increase collaboration with healthcare systems and providers worldwide.