Artificial Intelligence Is Revolutionizing the Biopharmaceutical Industry
Generally speaking, a successful new drug development would entail biopharmaceutical companies $500 million to $1 billion and 10 to 15 years in their drug R&D endeavors. However, though pharmaceutical companies have spent a large sum of money on research and development each year, more than 90% of the molecules discovered using traditional techniques turned out to be failure in human clinical trials. Against such a backdrop, the advent and growing popularity of artificial intelligence (AI) may soon become a major “savior” for maintaining commercial vitality in the pharmaceutical R&D field, and at the same time provide hope for some patients.
Some leading AI drug development companies
In this long and fierce competition, some companies have chosen different paths, hoping to challenge their limits in unknown areas. Companies focusing on AI-aided drug discovery needs to combine higher levels of traditional biopharmaceutical sciences (biochemistry, biology, biomedicine, etc.) with core AI technologies. In order to successfully launch new AI drugs into the market, the company needs a very strong and professional team with sufficient personal expertise and a sufficient number of experts. Companies such as AI & Medicine, BenevolentAI and Insilico Medicine are leaders in this field. AI & Medicine’s drug discovery engine is very powerful and can be used in the computer verification phase of drug development and drug development cycles. The company focuses on generating new drug candidates with specific molecular properties to determine precise disease targets. Traditional pharmaceutical companies screen through many possible clues, test each one and hope that it will work. Meanwhile, AI & Medicine also starts with specially designed molecular leads in terms of its pharmacokinetic and pharmacodynamic properties, so it has a higher probability of being effective for specific disease targets.
What does investment firms think about AI drug development companies?
For investors, they must be equipped with the required minimum professional knowledge to invest in AI-powered medicine. A full understanding of the industry would be required to make reasonable investment decision. Of the 260 investment funds, less than 20 may have invested in 125 drug discovery companies active in the AI field.
Perhaps in the next few years, some of the companies mentioned above will have a strong influence in the pharmaceutical industry and make unprecedented breakthroughs in chemical drug development. AI fundamentally changes healthcare and the quality of patients’ life. The current low success rate of new drug development has it a hope that AI will push healthcare to new heights by increasing the success rate of drug development. Of course, every new step requires tremendous effort.
Accelerate the discovery of new compounds
The high cost of screening compounds pushes up the cost of developing new drugs in traditional drug discovery. Commercial screening of compounds can cost as much as $15 per milligram-more than 10 times the price of gold. By using AI in drug development, it is possible to accurately predict which drugs are safe and effective for specific patient groups. AI can greatly accelerate the drug development cycle by generating drug candidates. Traditional pharmaceutical companies screen a large number of drug candidates and conduct tests on this basis.