AI in drug discovery market to increase at CAGR of 40.8 percent

Drug Target Review | November 20, 2019

New research has found that artificial intelligence (AI) in the drug discovery market is projected to increase at a compound annual growth rate (CAGR) of 40.8 percent from 2019 to 2024. According to MarketsandMarkets™, AI in drug discovery has been worth $259 million this year but will grow to be worth $1,434 million by the end of the forecast period. Some of the factors that are expected to be responsible for this increase include a growing number of cross-industry collaborations and partnerships, the need to control drug discovery and development costs and the rising adoption of cloud-based applications and services. The impending patent expiry of blockbuster drugs is a further reason given for this potential growth. However, some of the challenges that could weaken this market are an inadequate availability of skilled labour and a lack of datasets in the field of drug discovery. The researchers say that as AI is complex method it entails the implementation of sophisticated algorithms for a wide range of applications in drug discovery. This means it requires support and maintenance services, which will result in the services market growing more than the software market.

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Pharmacy Market

NanoTemper Technologies Unveils Biotinylated Target Labeling Kit, Empowering Scientists in Pharma Industry to Tackle Challenging Drug Targets

Businesswire | June 30, 2023

NanoTemper Technologies, creator of biophysical tools for drug discovery, today, proudly announced the launch of their highly anticipated Biotinylated Target Labeling Kit, expanding the molecular interaction analysis toolkit for scientists working with complex or undruggable targets, filling a vital gap in screening and hit validation workflows in the pharma industry. This new kit combined with NanoTemper’s exclusive Spectral Shift technology is the preferred orthogonal method for scientists utilizing surface plasmon resonance (SPR), who predominantly use biotinylated proteins for affinity screening or binding affinity assays. “Now, direct comparison of binding affinities from an immobilized method to the in-solution, immobilization-free technique of Spectral Shift is possible,” says Regina Borovac, Consumables Product Manager at NanoTemper Technologies. “And, not only that, it enables those who already use Spectral Shift to analyze a broader range of interactions, tackling even more projects involving complex targets.” Spectral Shift is a growing power in molecular affinity measurements Because of Spectral Shift’s early success in removing roadblocks for scientists who have found difficulty finding candidates for their complex targets, NanoTemper is continuing to invest in creating products that empower scientists to do more with Spectral Shift technology. "We’ve put Spectral Shift technology into Dianthus, our affinity screening instrumentation, and Monolith X, our instrumentation for molecular interactions, and they’ve now become a necessity for anyone tackling challenging disease targets,” comments Jocelyn Davé, Chief Product Officer at NanoTemper Technologies. “When it comes to addressing difficult and undruggable targets, there is no other company with the ability to outperform SPR in this category." About NanoTemper Technologies Our mission at NanoTemper Technologies is to create biophysical tools for scientists in drug discovery and development who need to tackle challenging characterizations. Working with scientists striving to make a difference in the world gets us excited. If you’re facing challenges with affinity screening, molecular interactions, or protein stability, let’s talk.

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PHARMACY MARKET

Aquestive Therapeutics Receives FDA Acceptance of New Drug Application (NDA) for Libervant™ (diazepam) Buccal Film in Pediatric Patients

globenewswire | September 12, 2023

Aquestive Therapeutics, Inc. a pharmaceutical company advancing medicines to solve patients’ problems with current standards of care and provide transformative products to improve their lives, today announced acceptance by the U.S. Food and Drug Administration (FDA) of the Company’s NDA for Libervant™ (diazepam) Buccal Film in pediatric patients between two and five years of age and the assignment of a PDUFA goal date of April 28, 2024. Aquestive’s NDA for approval of Libervant™ Buccal Film for the acute treatment of intermittent, stereotypic episodes of frequent seizure activity (i.e., seizure clusters, acute repetitive seizures) in patients between two and five years of age has been accepted by the FDA. Diastat® (diazepam) Rectal Gel is the only treatment currently available to this patient population for this indication. The Company received tentative approval for Libervant for the treatment of intermittent, stereotypic episodes of frequent seizure activity (i.e., seizure clusters, acute repetitive seizures) in patients 12 years of age and older in August 2022, but Libervant is currently under an orphan drug block to market access until January 2027. “The FDA’s acceptance of our most recent filing for Libervant is another step forward in bringing this important treatment option to patients,” said Daniel Barber, Chief Executive Officer of Aquestive. “When it comes to the treatment of seizure clusters in pediatric patients with epilepsy five years of age and under, physicians and caregivers have limited options. We believe Libervant, as an oral alternative to existing device-based products, will be well-received by this patient population, if approved with market access.” About Libervant Libervant is a buccally, or inside of the cheek, administered film formulation of diazepam, a benzodiazepine intended for the acute treatment of intermittent, stereotypic episodes of frequent seizure activity (i.e., seizure clusters, acute repetitive seizures) that are distinct from a patient’s usual seizure pattern. Aquestive developed Libervant as an alternative to the device-based products currently available for patients with refractory epilepsy, including a rectal gel and nasal spray products. The FDA has granted tentative approval for Libervant for treatment of these epilepsy patients 12 years of age and older, with U.S. market access for Libervant for this age group of patients subject to the expiration of the existing orphan drug market exclusivity of a previously FDA approved drug scheduled to expire in January 2027. The NDA submitted today for Libervant for epilepsy patients between two and five years of age is subject to FDA approval, including for U.S. market access. About Aquestive Aquestive is a pharmaceutical company advancing medicines to solve patients’ problems with current standards of care and provide transformative products to improve their lives. We are developing orally administered products to deliver complex molecules, providing novel alternatives to invasive and inconvenient standard of care therapies. Aquestive has five commercialized products marketed by its licensees in the U.S. and around the world, and is the exclusive manufacturer of these licensed products. The Company also collaborates with pharmaceutical companies to bring new molecules to market using proprietary, best-in-class technologies, like PharmFilm®, and has proven drug development and commercialization capabilities. Aquestive is advancing a late-stage proprietary product pipeline focused on treating diseases of the central nervous system and an earlier stage pipeline for the treatment of severe allergic reactions, including anaphylaxis.

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Research

Cipher Partner, Moberg Pharma Announces Approval for MOB-015 in the European Union

Newswire | July 05, 2023

Cipher Pharmaceuticals Inc. ("Cipher" or "the Company") today announced that the Company's partner, Moberg Pharma AB, ("Moberg Pharma") has obtained European Union approval for MOB-015 (nail fungus treatment) as a result of demonstrating superior levels of mycological cure (76% vs. 42% for comparators) and a significantly better complete cure rate. MOB-015 has been recommended for national approval in 13 European countries, which will be commercialized through partners such as Bayer and Allderma, and is expected to be launched in Nordic countries such as Sweden during 2023. Cipher holds the exclusive Canadian rights to MOB-015, a new topical treatment of Onychomycosis (nail fungus) based on Moberg's patented proprietary formulation of terbinafine. In Canada, according to IQVIA, the total prescription market for Onychomycosis was greater than $82 million CDN at December 31, 2022 with a single product having over 90% market share. Craig Mull, Interim CEO of Cipher commented, "This is a fantastic achievement whereby the European Union has recognised MOB-015 as delivering quick visible improvements to patients living with nail fungus. We are excited about our partnership with Moberg Pharma, who have a strong track record developing and commercializing nail fungus products previously in both Europe and North America. This approval is a tremendous step in the right direction towards ultimately receiving market approval in Canada and the United States. We will continue to work closely with Moberg in making this clinically proven effective treatment available to Canadians as soon as possible." Moberg Pharma continues to invest and advance MOB-015 through an additional phase 3 trial of a total of 350 patients with sites across the United States and Canada. The purpose of this study is to facilitate market approval in North America as well as further strengthen the product's clinical evidence beyond the mycological and complete cure rates already demonstrated to the European Union. Patient enrollment in the clinical trial is progressing according to plan with full enrollment expected in 2023. About Cipher Pharmaceuticals Inc. Cipher Pharmaceuticalsis a specialty pharmaceutical company with a robust and diversified portfolio of commercial and early to late-stage products. Cipher acquires products that fulfill unmet medical needs, manages the required clinical development and regulatory approval process, and currently markets those products either directly in Canada or indirectly through partners in Canada, the U.S., and South America. About Moberg Pharma Moberg Pharma AB is a Swedish pharmaceutical company focused on commercializing proprietary innovations based on drug delivery of proven compounds. The company's main asset, MOB-015, is a novel topical treatment for onychomycosis. Data from phase 3 clinical trials in more than 800 patients for MOB-015 indicate that the product has the potential to become the future market leader in onychomycosis. Moberg Pharma has agreements with commercial partners in place in Europe and Japan, among others, and the company's goal is to receive its first market approval and launch MOB-015 in 2023.

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