Applying artificial intelligence to drug development is quicker and can save money.
According to PhRMA, it takes over ten years on average for a new medication to be developed and costs 2.6 billion on average. Despite this, the chances of the drug reaching the market are slim. The high frequency and high cost of failure are daunting figures for those both developing and needing the treatment.
Deep Genomics is looking to change those figures by reinventing the way we develop new medicines. By using AI, they can greatly reduce the amount of trial and error that goes into drug discovery. Their platform allows researchers to find new drug compounds by assessing their impact on subtle differences in our genetic makeup.
This can help predict which new drugs may be the most effective in humans. These drugs can then form the basis of human trials. As they grow the system with more data, their AI will have an increasing number of drugs and genetic target areas, leading to higher chances of finding treatments for more health conditions.
Along with furthering the development of their AI-powered discovery platform, Deep Genomics is also working towards a treatment for Wilson Disease. They recently had a successful series B round, bringing in $40 million to further their research.