What You Should Know: Elevation Oncology, Inc. (Nasdaq: ELEV), an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs, announced the pricing of an underwritten public offering of (i) 17,810,000 shares of its common stock and, in lieu of common stock to investors that so choose, pre-funded warrants to purchase up to an aggregate of 4,440,000
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Life Sciences | News, Analysis, Insights - HIT Consultant
Too Many Chatbots? What Is The Right Mix of AI/Human Interactions?
Pharmaceutical companies across the globe are currently investing in artificial intelligence (AI) to overcome challenges surrounding the support of inquiries from healthcare professionals (HCPs). In fact, according to an Informa study, 58% of life science experts believe that advanced AI agents have the potential to deliver HCP engagement experiences comparable to human experts. Blending humans and AI agents help to address rising expectations and demand for constant multichannel access to
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HCP Marketing in the Pharma Industry: A Comprehensive Strategy for Engaging Healthcare Professionals
HCP marketing, also known as healthcare professional marketing, plays a vital role in the pharmaceutical industry. It focuses on engaging and informing healthcare professionals about pharmaceutical products, treatments, and services. In this article, we will explore the meaning of HCP marketing, its elements, and its significance in the digital era. What is HCP Marketing? HCP marketing refers to the strategic efforts undertaken by pharmaceutical companies to connect with healthcare
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Monopolization in Healthcare Could Affect Access to Quality Treatment
Consolidation and the threat of monopolization in healthcare are rising. The pharmaceutical industry has experienced a wave of accelerated consolidation since 2010. In 2019, the industry saw a record-breaking 1,276 pharmaceutical M&A’s, representing a total value surpassing $411 billion. Monopolistic practices within healthcare and pharmaceutical industries not only hurt a healthy economy, but they also ultimately limit patients’ choices when it comes to healthcare options, further eroding
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Navigating the Challenges of Biosample Consent in Clinical Trials
In the age of biotechnology, biosample collection has become an essential part of medical research. Through this process, samples are taken from patients through a variety of sources, including blood, tissue, saliva, hair, and other bodily fluids. The samples are then analyzed for their genetic, biochemical, or physiological properties, and the findings are used to further the understanding of human health, disease and the environment. Many times, during clinical trials, sponsors will want to
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AI in Drug Discovery Market to Reach $4B by 2027
What You Should Know: The AI in Drug Discovery market in terms of revenue was estimated to be worth $600M in 2022 and is poised to reach $4B by 2027, growing at a CAGR of 45.7% from 2022 to 2027 according to a new report published by MarketsandMarkets™. The report cites the growing need to curb the drug discovery cost & reduce the overall time taken in this process, the rising adoption of cloud-based applications and services, and the impending patent expiry of blockbuster
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3 Ways Government Can Catalyze Biomedical Innovation
What You Should Know: Deloitte has published some new research about how government can advance biomedical innovation and improve public health.The report shares insights from various government leaders and biomedical industry experts on lessons learned from the COVID-19 pandemic, what’s driving innovation, the challenges and opportunities in partnerships, and the government’s role in sustaining the biomedical industry. Understanding How the Government Can Catalyze Biomedical
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Q/A: IQVIA’s Global Lead Talks Unlocking AI for Drug Repurposing
In an interview with HIT Consultant, Nathan Sommerford, Global Lead for Drug Discovery and Development, IQVIA talks how unlocking artificial intelligence (AI) in drug repurposing is transforming pharma and biotech companies. What are some of the challenges and problems associated with drug discovery “from scratch”? Nathan Sommerford, Global Lead for Drug Discovery and Development, IQVIA: In the traditional drug discovery and development paradigm, it can cost up to $1.8 billion and
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M&A: ArisGlobal Acquires SPORIFY to Expand Regulatory Solutions
What You Should Know: ArisGlobal, a provider of life sciences software acquires SPORIFY, the trusted substances, products, organizations and referentials (SPOR) data harmonization technology solution for five of the world’s top 20 largest pharmaceutical companies. Financial details of the acquisition were not disclosed.With its second acquisition in the last 90 days, ArisGlobal is prioritizing the development of an open architecture that enables an interconnected life sciences ecosystem.The
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Flatiron Health Launches Integrated RWE Solutions for Oncology
What You Should Know: Building upon over a decade of experience providing high-quality, real-world oncology data, Flatiron Health has announced the expansion of their real-world evidence (RWE) offerings to include analytic, scientific, and consultative services, leveraging the high-quality foundational real-world data (RWD) assets that the company is well known for.Flatiron’s new Integrated RWE Solutions will include data and end-to-end services to provide a more flexible and fit-for-purpose
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