PhysIQ Receives $500,000 to Advance AI Innovations

PhysIQ, A Purdue University–affiliated company using artificial intelligence (AI) to improve health care delivery, has received a $500,000 investment from Purdue Research Foundation’s Foundry Investment Fund to help them advance medical technology.
 
Founded by Gary Conkright, physIQ develops solutions to improve healthcare outcomes by applying AI to real-time physiological data from wearable sensors. The physIQ solution provides health care specialists with tools to proactively engage at-risk patients, as well as to provide pharmaceutical companies with data-driven support to demonstrate the efficacy of their products using Real World Data.
 
“This investment is an incredible show of support and confidence in our technology and our vision from the Purdue Research Foundation,” Conkright commented. “The Foundation’s support will help us continue to lead the way in changing how healthcare is developed and delivered through FDA-cleared physiology analytics.”
 
The Foundry Investment Fund was established in 2014 through a partnership between Purdue Research Foundation and Cook Medical. The goal of the fund is to add critical capital for the transition from the discovery of a promising technology to founding a viable life sciences company. The funds are partial matching investments made in the companies by institutional and other investors.
 
“The Foundry Investment Fund plays an important role in attracting interest in Purdue-affiliated life sciences companies,” said John Hanak, managing director of Purdue Ventures. “Gary Conkright’s team at physIQ offers a great example of the kinds of technology and products that align perfectly with the goals of the fund.”
 
PhysIQ is looking forward to further ties with Purdue’s Weldon School of Biomedical Engineering. Together, they are exploring collaboration opportunities with signal processing and AI-based data analysis from wearable biosensors, as well as data analysis from multiple-axis accelerometers.