WoWE made a sponsor investment in a healthcare special purpose acquisition company (SPAC), Intelligent Medicine Acquisition Corp (Nasdaq:IQMD). IQMD focuses on life science companies that are using artificial intelligence (AI), machine learning (ML) and big data to create and power a new model of drug discovery through research and development that is far faster, less expensive and more predictable than the decades-old system of drug development many still follow to date.
Why We Invested
WoWE’s investment in IQMD elevates the role of women actors and the potential of research and development that prioritizes challenges that women and underrepresented communities predominantly face. The use of AI and ML combined with big data provides the opportunity to re-engineer the drug discovery process to provide better outcomes for millions of people. Further, establishing relationships early in the life cycle of a high potential strategy ensures WoWE has a seat at the Board table to influence the growth and diversity at the earliest stages. SPACs popularity has boomed in recent years, but according to Bloomberg, only 5% of SPACs are led by women and 15.5% SPAC board seats were held by women as of December 2020.
Impact Sector: Health
Deal Type: SPAC