Tern (TERN) operates a hybrid venture capital model, providing access to disruptive IoT start-ups with proven technology.
Talking Medicines…and revenue potential
Tern’s portfolio company Talking Medicines, the data science/AI specialist, has raised a total of £440k via the issue of unsecured convertible loan notes (CLNs). The raise will provide funding for the next stage of development and expansion in the US. Talking Medicines is on a positive trajectory with significant momentum, and we see huge potential in the next phase of growth. Already at the forefront of AI, Talking Medicines is well placed to take advantage of Large Language Models (LLMs) following the media attention given to Open AI’s Chat GPT. This was highlighted with the recent launch of the company’s Drug-GPT, which stands apart as a specialised ‘Curated Large Language Model’. In our view, Talking Medicines has evolved quickly to address the marketing-driven reality of US Big Pharma and has built relationships that could become very lucrative in short order.