The future of safety intelligence is now. New safety reporting and analytics advancements have redefined how pharmacovigilance (PV) teams operate by putting next-generation safety intelligence at the fingertips of those needing it most. Teams that can streamline data flow and enable stakeholders to self-service real-time insights are delivering unprecedented value by enabling greater case management visibility and more informed, proactive decision-making. Despite this, many PV
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Drug Discovery | Pharma |News, Analysis, Insights - HIT Consultant
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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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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Drug Discovery Outsourcing Market Expected to Reach $7.5B by 2033
What You Should Know: The drug discovery outsourcing market is expected to reach $3.75B in 2023 and is expected to grow at a steady CAGR of 7.2% and is expected to reach $7.52B by 2033, according to a new report by Future Market Insights.The research report on the drug discovery outsourcing market states that the pharmaceutical industry is expanding thoroughly with new extensions and high-end research programs. AI Drug Discovery Outsourcing for Cost-Savings The
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PsychoGenics Launches AI Platform to Revolutionize Drug Discovery
What You Should Know: - PsychoGenics Inc., a provider of AI-enabled phenotypic drug discovery and preclinical CRO services launches eCube®, a novel pharmaco-electroencephalography (“pharmacoEEG”) platform. The platform supports phenotypic drug discovery, which unlike traditional target-based drug discovery, can identify novel treatments with multiple targets. How eCube Works eCube measures drug-induced changes to EEG spectra data and utilizes machine learning classifiers trained
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Genialis Raises $13M to Build Clinical Biomarkers that Predict Patient Response
What You Should Know: Genialis, a computational precision medicine company unraveling complex biology to find new ways to address disease, today announced it raised more than $13 million in Series A financing to transform the way diseases are diagnosed and treatment decisions are made.Taiwania Capital and Debiopharm Innovation Fund co-led the round, with participation from previous investors First Star Ventures, Redalpine Venture Partners, and Pikas. Other new investors include P5 Health
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NVIDIA Unveils Generative AI Service to Advance Life Sciences R&D
What You Should Know: - NVIDIA today announced an expanded set of generative AI cloud services for customizing AI foundation models to accelerate the creation of new proteins and therapeutics, as well as research in the fields of genomics, chemistry, biology and molecular dynamics. - Part of NVIDIA AI Foundations, the new BioNeMo™ Cloud service offering — for both AI model training and inference — accelerates the most time-consuming and costly stages of drug discovery. It
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Protai Raises $20M to Build an Oncology Drug Discovery Pipeline
What You Should Know: - Protai, a proteomics and AI-powered drug discovery startup revolutionizing the way new drugs are discovered, today announced a $12 million extension of its seed round, bringing the total amount to $20M. - The round includes existing investors Grove Ventures and Pitango Healthcare and was joined by Copenhagen-based Maj Invest Equity Fund. The additional funding will be used to build Protai’s oncology drug discovery pipeline, expand data
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Tempus, Pfizer Partner to Advance Oncology Therapeutic Development
What You Should Know: - Today, the AI-powered genetic testing and precision medicine company Tempus announced that it has signed a significant strategic agreement with Pfizer to more precisely gather insights that will inform novel drug discovery and development in oncology. - Through this collaboration, Pfizer has access to Tempus’ AI-enabled platform and its library of de-identified, multimodal data to uncover insights that will power therapeutic development in oncology. -
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Report: Pharma R&D ROI Falls to Lowest Level in 13 Years
What You Should Know: - Deloitte Centre for Health Solutions releases its thirteenth annual report, ‘Seize the Digital Momentum: Measuring the return from pharmaceutical innovation 2022’ that explores the performance of the biopharmaceutical industry (bio Pharma) and its ability to generate returns from investment in innovative new medicines. - Since 2021, much of the world has successfully adjusted to life where COVID-19 is more endemic as vaccines and treatments reduced the risk and
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