Drug development and testing is a time-consuming and tedious process. This is primarily due to the fact that it includes redundant trials. It exposes animals to the suffering of lab re-testing while yielding relatively limited outcomes.
'More than 90% of the drugs tested in animals fail to pass human clinical trials, resulting in delayed development and high costs'
VeriSIM Life attempts to tackle this problem using computational sciences rather than the current trial-and-error method, adding clarity to medicine development. The company believes that using their machine learning-based strategy; they would be able to pre-flight medical breakthroughs without repeated trials, resulting in improved results.
BioiSIM is VeriSIM Life’s AI-powered platform that provides unparalleled value to the drug development business by predicting the clinical outcomes of drugs before human trials with unprecedented accuracy. It aids in concentrating development efforts on drug compounds that are more likely to deliver on the expected value for the treatment or cure of a specific disease. They provide a variety of translational-based solutions tailored to preclinical and clinical research.
BioiSIM provides scalable, robust models based on data from thousands of drugs across seven species. The platform can be used prior to the start of a preclinical animal trial, providing earlier insights and reducing the cost of complex outsourced experiments. The platform’s core is a translatability engine that translates ideas across species, majorly focusing on human results. To iterate on data stability, update models, and deliver an always up-to-date software solution, the company utilizes a continuous improvement system with regular updates.
The innovative, AI-driven health-tech startup recently raised $15 Million in a Series A funding round. The round was led by Morpheus Ventures. The company now has investors like Colorcon Ventures and Debiopharm Innovation Fund, joining the existing investors Serra Ventures, OCA Ventures, Intel Capital, and Susa Ventures.
With this round, the company aims to grow exponentially by scaling its operations, focusing on sales and marketing while continuously implementing and introducing new technologies in the field of drug development and research.
Consultant Intern: Currently in her third year of B.Tech from Indian Institute of Technology(IIT), Goa. She is an ML enthusiast and has a keen interest in Data Science. She is a very good learner and tries to be well versed with the latest developments in Artificial Intelligence.