Recursion Pharmaceuticals plans to partner with big pharma on rare disease programs after raising $121m to build out its machine learning-enabled platform, which draws on an in-house developed dataset to support drug discovery and development.
The global drug discovery market is expected to reach $68bn in 2028, according to a Visiongain report, with revenue gains driven by flexibility, agility, and the ability to innovate, says Evotec executive.
Boehringer Ingelheim, Sanofi, Bristol-Myers Squibb, and Evotec are among the top companies with “AI-friendly” CEOs, according to a report, which suggests that these businesses will prosper driven by a more effective application of AI.
Improving the prognostic value of early phase data is among one of several ways to increase the probability of successes in drug development, a process which has become more expensive as failure rates have risen, says an industry expert.
Newly-minted Signant Health named a new CTO, Parexel bolstered its Japan presence, and BioAgilytix’s CEO was appointed to the board of FSD Pharma – a company developing products based on cannabinoids – among other people on the move in June.