New approaches to drug R&D are crucial to discovering novel therapeutic candidates. Big pharma companies are looking to artificial intelligence startups for innovative solutions.
Innovation across the healthcare space is exploding. And big pharma wants in.
Pharma companies are becoming increasingly focused on drug research and development (R&D) to develop novel therapeutics for life-threatening diseases.
As they push forward, artificial intelligence will become a key element to success.
AI can help expedite the process of finding new molecular compounds and targets for these pharma players to work with. Using AI can also increase the likelihood of a drug’s success by helping a company make more accurate predictions as a drug moves down the pipeline.
“The biggest opportunity where we are still in the early stage is to use deep learning and artificial intelligence to identify completely new indications, completely new medicines.” – Bruno Strigini, Former CEO of Novartis Oncology
Many pharma companies are realizing this potential as they invest in and partner with AI startups working across drug R&D.
GlaxoSmithKline, for example, entered into a $42.7M collaboration with AI drug discovery company Exscientia in July 2017.
While many of these startups are still early-stage, big pharma players are relying on such collaborations to transform this traditionally drawn out discovery process into a much simpler one.
Using the CB Insights platform, we identified 15 AI-powered drug R&D startups to watch.