Bayer chooses UK for its AI-focused R&D hub

pharmaphorum | October 10, 2019

Bayer has continued its policy of setting up R&D hubs to get closer to innovative companies with a UK site that will focus on applying artificial intelligence to drug discovery and disease diagnosis. The cluster – based at Reading’s Green Park – is the seventh in the German company’s LifeHub network, located at R&D hot spots around the globe, and is further evidence of the UK’s leading position in AI technology. According to the Tech Nation 2019 report, the UK is today the world’s third biggest market for AI investment after the US and China with funding rising six-fold since 2014. Bayer already has one company getting ready to set up a unit at LifeHub UK. Sensyne Health, which started working with the German group earlier this year, will base a project focusing on applying AI to automate image evaluation in radiology at the site. The project will analyse research from three million anonymised, ethically sourced NHS patient records and data provided through Sensyne’s partnerships with NHS trusts, with the NHS remaining the controller of all patient data.

Spotlight

Screening is an essential method for analyzing a group of chemicals, molecules, and/or compounds for a particular function in a prescribed assay. Proper screening is important for the identification of meaningful associations between compounds and targets, and screening technology has significantly improved over the last 20 years, allowing for increased precision and efficiency in drug development.


Other News
PHARMACY MARKET

Titan Pharmaceuticals to Explore Strategic Alternatives

Titan Pharmaceuticals, Inc. | December 22, 2021

Titan Pharmaceuticals, Inc. announced that it has commenced a process to explore and evaluate strategic alternatives to enhance shareholder value. Titan has engaged Maxim Group LLC as its exclusive financial advisor to assist in this process. Potential strategic alternatives that may be explored or evaluated as part of this process include an acquisition, merger, reverse merger, other business combination, sales of assets, licensing or other strategic transactions involving the Company. There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions, or that, if completed, any agreements or transactions will be successful or on attractive terms. Titan does not expect to disclose developments with respect to this process unless and until the evaluation of strategic alternatives has been completed or the board of directors has concluded that disclosure is appropriate or legally required. About Titan Pharmaceuticals Titan Pharmaceuticals, Inc. based in South San Francisco, CA, is a development stage company developing proprietary therapeutics with its ProNeura® long-term, continuous drug delivery technology. The ProNeura technology has the potential to be used in developing products for treating a number of chronic conditions, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. Ultimate validation of the ProNeura® delivery system has been exemplified by approval of Probuphine in the US, EU and Canada. Key ongoing ProNeura implant programs include IND-enabling, non-clinical assessment of TP-2021, a potent peptide kappa opioid agonist for the long-term treatment of severe, chronic pruritis, and nalmefene, a mu opioid receptor blocker designed to decrease relapse and potential death from overdose in detoxed patients with Opiate Use Disorder.

Read More

BUSINESS INSIGHTS

OptimizeRx Acquires EvinceMed, a Specialty Drug Prescription Initiation Platform

OptimizeRx Corporation | March 16, 2022

OptimizeRx Corp. a leading provider of point-of-care technology solutions helping patients start and stay on therapy, announced a definitive agreement to acquire the EvinceMed platform and related assets. EvinceMed is a leader in delivering end-to-end automation for specialty pharmaceutical transactions. The acquisition includes the full Market Access Management Platform supporting pharma manufacturers, hub providers and pharmacies to improve patient access, speed to therapy and activation of affordability programs. With the EvinceMed platform, OptimizeRx will be able to help patients get access to the drugs they need by simplifying the prescribing process for specialty products, automating manual steps to determine drug eligibility and affordability, and introducing electronic enrollment and medical documentation within workflow across the OptimizeRx network of over 300 electronic health record (EHR) systems, ePrescribing platforms, and account-based marketing technologies spanning more than 700 thousand providers. The integration of the EvinceMed and OptimizeRx platforms has already begun with an exclusive collaboration that began last year. Full integration of the technology assets will further the Company’s ability to help patients start and stay on therapy. While specialty drugs account for only 2.2% of total prescription volume in the U.S, they accounted for over 45% of total pharmacy spend, or $218.6 billion in 2019 1,2. The cost and increasing use of specialty medications has exposed unique barriers to the prescription and patient access process. Manufacturer support programs provide much-needed services to prescription medication access, affordability, and adherence. However, a recent survey of 10,000 patients across multiple therapeutic areas found that only 20% of patients were aware of such programs3. Doctors and their staff can assist patients with enrollment into these programs, yet the enrollment process is often time-consuming, and doctors remain dissatisfied with current patient support options available. In addition, less than 10% of patient enrollment into these support programs is currently completed electronically4. “We are thrilled to have EvinceMed transition from an exclusive technology partner over the last year to being part of the team. Given the success we saw working together, this combination strengthens our position to serve our pharma customers across the full HCP network and throughout the patients’ journeys – from the moment the doctor logs into their EHR right through the point of dispense at the pharmacy. This acquisition offers significant high margin cross-selling opportunities across our growing customer base of leading life science companies, while further fortifying our business through vertical integration, and helping drive upward momentum to our key performance indicators. We expect this acquisition to benefit revenue growth in 2023 as we further develop our network around connectivity to additional partners.” William Febbo, CEO of OptimizeRx David Jackson, CEO of EvinceMed commented, “We are very excited to be joining the OptimizeRx team. The impact of our combined technologies and the reach and scale that OptimizeRx has with pharmaceutical manufacturers is a game-changer to patient access to specialty medications. By automating the processes and tasks required to be completed prior to the fill and dispense of specialty medications, we can get patients on treatment much faster and at a lower overall cost.” OptimizeRx chief commercial officer, Steve Silvestro, added, “Our commitment to leveraging technology to assist providers and patients in accessing the tools they need to improve outcomes is a mission-driven effort. The EvinceMed assets give us additional resources to accomplish that while also expanding the network’s reach to point-of-dispense, a goal we have long pursued. Prescribing support through automation for providers will both accelerate workflows and remove barriers to the specialty prescribing process ensuring patients are able to readily access the life-changing innovative therapies that they need.” OptimizeRx is committed to investing in innovation to bring more digital in-workflow solutions to execute against the commercialization goals of life science organizations. OptimizeRx currently provides solutions to 19 of the 20 largest pharma manufacturers and seeks to continue driving long-term, sustainable ROIs for its clients while supporting initiatives that improve health outcomes. Recent market research commissioned by OptimizeRx revealed specialty drug access support as being a $12B+ market. This acquisition further diversifies OptimizeRx revenue streams as the Company scales to address the client needs in this space.

Read More

PHARMACY MARKET

Twelve Consulting Group Announces Partnership with Celonis to Help Customers Identify and Eliminate Process Inefficiencies

Twelve Consulting Group, | February 11, 2022

Twelve Consulting Group, a consultancy firm specializingin designing and delivering cloud-based solutions, has formalized its partnership with Celonis, the global leader in execution management. This partnership combines Twelve CG’s technology consulting expertise with Celonis’ market leading process mining and execution management capabilities, enabling customers to optimize their business operations, identify inefficiencies and unlock their full execution capacity. The Celonis Execution Management System (EMS) provides companies with a modern way to understand and execute their business processes, eliminating billions of dollars in inefficiencies. The EMS powers all facets of business execution, including real-time data ingestion, process and task mining, planning and simulation, visualization and daily management, and targeted action flows to course correct in real-time. “By partnering with Celonis, we’ll be able to help our customers identify broken processes and execution gaps. And in addition, we can use the Celonis platform to fix those process issues and unlock efficiencies and value. This collaboration brings together the strengths of both organizations to deliver exceptional business outcomes and improve performance for our joint customers.” Jon Howard, Director of Solution Innovation at Twelve CG “Today’s businesses need to be able to see and understand processes before they can effectively act. Our Execution Management System helps customers identify and fix failing business processes, and addresses every facet of execution management from analytics, to strategy and planning, management, actions and automation,” said Nicole Gallant, VP Partner Management North America at Celonis. “Partnering with Twelve CG will help enterprises close the execution gaps that have been holding them back from achieving full execution capacity.” About Twelve Consulting Group Founded in 2013 by Jill King, Twelve Consulting Group leverages leading cloud-based technologies to help customers unlock potential with smarter data. Twelve CG works with 100+ customers across the CPG, Pharmaceutical and Technology industries to solve mission critical business challenges with speed, accuracy and agility.

Read More

BUSINESS INSIGHTS

Pneuma Systems collaborates with West Pharmaceutical Services, Inc. to improve the patient experience

Pneuma Systems Corporation | April 08, 2022

Medical technology company, Pneuma Systems Corporation, has entered a multi-faceted business collaboration with West Pharmaceutical Services, Inc. with the goal of improving the patient's experience with drug therapy. West is a leading global manufacturer in the design and production of technologically advanced, high-quality, integrated containment and delivery systems for injectable medicines. Pneuma Systems Corporation has developed a family of fluid flow technologies that are aimed at scientific and medical applications. The global intravenous pump market segment is expected to reach USD 20.5 billion over the next five years. Pneuma will provide a novel closed-loop fluid flow control platform that West will use to develop drug delivery solutions for pharmaceutical companies and clinical end users. West will provide technical and financial support to Pneuma and access to the emerging West Digital Platform, designed to improve transmission of data and other information. "West's almost century-long commitment to the development of drug delivery systems dovetails with our cutting-edge flow control technology. West's latest foray into a broad digital architecture is very important to us. When you improve both fluid flow and information flow, the result is an improvement in workflow, which results in higher levels of patient safety and lower costs," said Pneuma CEO Jeffrey Carlisle. "We are aiming at disruptive improvements in workflow." "We are excited about our collaboration with Pneuma and the potential of their technologies to address a variety of flow control challenges to drive improvements in healthcare. At West our mission is to improve patient lives not only through our products and services but also by investing in small innovative companies and offering our deep technical and commercial expertise to help them bring their transformation technologies to the market," Scott Young, VP Venture & External Collaboration at West Pneuma Systems, together with its strategic partners, plans to install PneumaDrive™ technology-based infusion devices in infusion centers, home care, and acute care settings around the world. The low cost PneumaDrive™ technology can replace existing infusion pumps and automate "gravity drip" infusions, providing patients with a safer and easier experience. About Pneuma Pneuma Systems is a New Hampshire based company founded by Jeffrey Carlisle, also Founder of the recently acquired Ivenix. Pneuma is dedicated to improving fluid flow, information flow, and workflow for the IV therapy process. About West West Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectable solutions and services. As a trusted partner to established and emerging drug developers, West helps ensure the safe, effective containment and delivery of life-saving and life-enhancing medicines for patients. With approximately 10,000 team members across 50 sites worldwide, West helps support our customers by delivering over 45 billion components and devices each year.

Read More

Spotlight

Screening is an essential method for analyzing a group of chemicals, molecules, and/or compounds for a particular function in a prescribed assay. Proper screening is important for the identification of meaningful associations between compounds and targets, and screening technology has significantly improved over the last 20 years, allowing for increased precision and efficiency in drug development.

Resources