Iterative Scopes | April 29, 2022
On April 28, Iterative Scopes, a pioneer in precision medicine technologies for gastroenterology, announced that it acquired Clinical Research Strategy Group, LLC, and Precision Research. These two clinical trial optimization companies focus on streamlining and speeding the drug development process for inflammatory bowel disease (IBD).
Through this acquisition, Iterative Scopes’ ties to the IBD clinical research community are deepened, and its knowledge of the end-to-end research process keeping in mind the provider viewpoints and pain points, has been strengthened. It will improve patient outcomes by providing improved treatment options. Chris Fourment, MD, the President, and CEO of both the companies, is a leading expert on clinical trials in IBD. He has joined Iterative Scopes as SVP of Clinical Strategy.
Founded in 2017, Iterative Scopes was a spin-out of the Massachusetts Institute of Technology (MIT) by Dr. Ng, a physician-entrepreneur who developed the company’s foundational concepts while studying at MIT and Harvard. In December 2021, the company and its investors closed a $150 million Series B funding. It attracted a roster of A-list venture capitalists, big pharma companies, and leaders in healthcare.
“I am excited to join Iterative Scopes to help the organization further harness machine learning and computer vision to aid physicians as they work to improve clinical outcomes for IBD patients earlier and with greater success. The current clinical trial process for IBD drug development has patient recruitment and clinical team workflow challenges. Iterative Scopes is employing cutting-edge computational algorithms and support services that have the potential to resolve these challenges.”
Iterative Scopes founder and CEO Dr. Jonathan Ng said, “With the addition of CRSG and Precision, Iterative Scopes has the opportunity to work more closely with different types of clinical trial sites and providers and to gain sophisticated insights about their needs and pain points, with the goal of refining our ground-breaking AI Recruitment service. Community sites face different challenges and opportunities than other types of providers, and these acquisitions help us create an intimate, holistic and fulsome knowledge of all stakeholders involved in the research process. While I have known Chris for some time now, we are thrilled to finally have him aboard our team, bringing his globally renowned expertise in IBD research to Iterative Scopes."
Spotlite360 | July 07, 2021
SPOTLITE360 TECHNOLOGIES, INC. is happy to announce that it has started an initiative to provide tailored supply chain tracing and tracking solutions for pharmaceutical companies, for which it is now in contract discussions with pharmaceutical firms. This effort coincides with an impending regulatory shift in the USD 1.3 trillion pharmaceutical industry1 that will require companies to comply with the Drug Supply Chain Security Act (“DSCSA”), which requires the deployment of electronic tracing systems. The Company has recognized an opportunity to offer solutions to DSCSA compliance by combining RFID and IoT sensors with blockchain, machine learning, and enterprise tracking software licensed from TrackX Holdings Inc.
In addition to the cost of complying with new and upcoming laws such as the DSCSA, pharmaceutical sector participants confront the following persistent difficulties in their supply chains:
• Every year, about USD 200 billion in counterfeit medicines are sold worldwide.
• Pharmaceutical cargo theft costs more than USD 1 billion per year, with a median stolen value of USD 100,000 being more than the industry average.
• Inadequate storage and transportation practices (e.g., unrefrigerated trucks, shipment periods that exceed a drug’s shelf life) can cause pharmaceutical damage, which has been highlighted as a multibillion-dollar issue in 2018.
The Company’s existing SaaS solution, powered by Spotlite360 technologies tailored to clients in the pharmaceutical industry, will capture real-time and event-driven data that can identify inefficiencies and potential hazards for pharmaceutical firms, potentially mitigating issues such as those listed above. Furthermore, potential benefits to clients in the pharmaceutical industry include accountability of global suppliers, as well as validation of claims relating to environmental, social, and corporate governance (“ESG”) matters by providing proof of origin, reliably authenticating goods, and allowing visibility into the chain of custody.
Blockchain technology has already shown to be effective in various pharmaceutical supply chain functions, including DSCSA compliance. In 2020, a major technology company released a study of its blockchain pilot program in collaboration with pharmaceutical behemoth Merck & Co. and the United States Food and Drug Administration (“FDA”), which was judged initially viable as stated in its final report filed to the FDA5. Spotlite360’s newest effort for the pharmaceutical sector aims to set new industry standards by providing an improved value proposition through full visibility and tracking capabilities.
About Spotlite360 Technologies Inc.
Spotlite360 is a logistics technology solutions provider that unlocks value, opportunities, and efficiency for all supply chain participants. Spotlite360 aims to establish new standards of transparency, integrity, and sustainability in the pharmaceutical, healthcare, and agriculture industries by building on existing applications of IoT technology, distributed ledgers, and machine learning. As authorities worldwide continue to enforce additional tracing and accountability requirements for consumer protection, the need for dependable, cost-effective, and flexible monitoring technology is anticipated to grow. Spotlite360’s flagship SaaS solution has been designed to monitor the movement of a product in real-time by connecting with the systems of all major stakeholders in the supply chain, from raw materials to the hands of the end customer.
IDBS | December 07, 2020
IDBS, a product informatics arrangement supplier for biotech and pharma, today reported the dispatch of Polar™, building up another item classification, BioPharma Lifecycle Management (BPLM), pointed toward smoothing out medication advancement and assembling in biopharma research.
The advancement of biologics is a unique cycle and the individuals who are best should have the option to adjust to changes in cycle or innovation quickly. IDBS information has discovered that without compelling BPLM, the advancement of a biologic can take as long as three years longer than it should, which impacts the two patients and an organization's primary concern. Despite the fact that biopharma organizations perceive the requirement for proficiency, quality and information honesty, most are as yet losing time to paper records, Excel and other specially appointed frameworks that defer results and endanger measure understanding and quality. Without more productive frameworks, organizations will keep on creating irreproducible outcomes, which prompts rehashed work, inability to separate experiences and postpones development.
"Putting up a medication for sale to the public is an unpredictable cycle which proceeds with post-commercialization," said Umay Saplakoglu, Chief Digital Officer at Cytiva. "A significant test today is that information that is created all through the periods of disclosure doesn't generally get moved and rather exists in storehouses – in hardware, in somebody's scratch pad or in an information base. There are no communitarian stages where you can dissect the information and draw experiences from it. This remaining parts probably the greatest test confronting industry today."
Polar™ is intended to be quickly sent to explain work process, measure quality, joint effort and information investigation challenges that have pained presently accessible programming arrangements including LIMS and ELN. It will decrease manual information preparing and record, prompting less human mistakes and improved generally speaking precision, and incorporates complete pursuit capacities that help clients find what they are searching for, diminishing the need to pointlessly copy measures. Besides, by making a profoundly contextualized information spine that underpins the entire improvement lifecycle, Polar™ offers out-of-the-crate understanding and investigation, assisting organizations with understanding the advantages of demonstrating and reproduction, helping drive development and decrease time-to-showcase.
Polar™, will empower organizations to all the more viably explore the complexities and failures of the medication advancement lifecycle, while receiving the groundbreaking rewards that come from a well curated cycle and quality information spine.