Now there is a time for streamlined tech disruption everywhere. Pharmaceuticals and Healthcare industries aren’t exceptions from this global trend, but strong state authorities’ regulation in these areas makes plenty of difficulties for tech startups aiming to improve the efficiency of patient-to-service transaction processes. Nevertheless, beginning from early 2012, there are tens of ambitious and innovative tech startups aiming to improve patient experience, diagnostics, and treatment efficiency, explore new insights in data analytics and reduce transactional costs for Pharmaceutical and Healthcare industries.
The most promising areas of tech disruption in Pharmaceuticals and Healthcare industries are Patient-faced services and new tech for Clinical trials and Healthcare providers.
TransCelerate BioPharma Inc., a non-profit, announced it has committed to an expansion of its clinical and drug safety portfolio, revealing the following new initiatives:
- The Common Clinical Serious Adverse Events (SAE) Fields Initiative intends to conduct a feasibility assessment, develop best practices relating to identifying the most critical SAE fields, and work with an industry standard setting organization to promulgate standards in this area, all with the intent of increasing the quality of what is reported and creating efficiencies for sites, CROs and regulators.
- The Modernization of Data Analytics for Clinical Development Initiative aims to analyze methods for considering and validating novel statistical computing platforms to propose to Health Authorities and better enable them to support these platforms.
- Due to the success of the Interpretation of Guidances and Regulations Initiative launched in drug safety in 2018, the initiative has expanded in scope from strictly pharmacovigilance to include clinical guidances and regulations. For its first deliverable, the workstream is creating a Quality Tolerance Limits Framework to help facilitate clinical trial compliance. The framework will propose interpretations of clinical regulations and seek to foster harmonization across health authorities by proactively sharing recommendations that reduce the amount of duplicative efforts and audit findings.
Parexel agreed with CluePoints to collaborate for risk-based monitoring work. CluePoints, which describes itself as a provider of risk-based study execution and data quality oversight software, will work with Parexel using its central statistical monitoring (CSM) tech designed to “enhance data quality and reduce operational costs.”
AI Drug Discovery
Machine learning-powered drug discoverer Recursion Pharmaceuticals has secured $121 million in new financing for its artificial intelligence programs. The series C round was led by Scottish Mortgage Investment Trust.
Recursion’s AI-powered approach to phenotypic screening and other aspects of drug discovery—originally developed to find new uses for old drugs—is built on its collection of cellular images and other data, analyzed with computer vision and neural networks to spot changes and discover novel biology.