VeriSIM Life Earns Frost & Sullivan Competitive Strategy Leadership Award for Best Practices in AI-enabled Preclinical Development Industry
VeriSIM Life eliminates waste and inaccuracy, accelerates preclinical development, and lowers costs and risks when converting drug candidates to clinical trials, and brings life-saving drugs to market faster.
SAN ANTONIO, Dec. 13, 2022 /CNW/ -- Frost & Sullivan recently assessed the artificial intelligence (AI)-enabled preclinical development industry, and, based on its analysis results, recognizes VeriSIM Life with the 2022 North America Competitive Strategy Leadership Award. The company's core mission is to increase human life expectancy through artificial intelligence-driven biosystem simulations and to personalize patient treatment. VeriSIM Life provides insights to pharma, biotech, academia, and research institutions and conducts risk-sharing collaborations to develop promising drugs, paving the preclinical development roadmap with AI. The company integrates comprehensive existing databases and animal models into its bio-simulation system, accelerating preclinical development, lowering costs and risks, and bringing potentially life-saving drugs to market faster.
VeriSIM Life's drug discovery and development decision engine, BIOiSIMTM, predicts the probability of a drug candidate to treat or cure illnesses or diseases using its unique Translational Index™ scoring technology which allows smarter decision-making on the best therapeutic molecules to eliminate or select for further research. The company applies a machine learning -driven approach to pre-flight medical advancements without extra trials or animal testing, allowing more patients to receive proper care and accelerating its partners' research findings. The company's risk-sharing partnership offerings allow organizations to co-develop new drugs using BIOiSIM™ and, hence, predict translation from bench to bedside, reduce R&D costs, lower the risk of selecting new drug candidates, and condense the development time for promising drugs.
According to Aarti Chitale, a Frost & Sullivan Senior Industry Analyst, "BIOiSIM™ identifies blind allies and reduces risk without requiring complete patient or drug data. Despite incomplete data, the platform's AI engine still gets enough information to make better decisions, saving time."
VeriSIM Life's transparent, scientifically-supported business model builds confidence in existing and potential customers. The company's sterling reputation and customer-centric framework have led to its coveted preferred partner status, constantly adding new customers to its established base. Its self-learning model in a cloud-based platform generates predictions in seconds, enabling:
- Training on diverse data across human and animal species
- Constant addition of new functionality and applicability domain expansion
- Multiple routes of administration
- Conclusions extraction from complex and convoluted data
- No pursuit of dead-end drug candidates
- Reduction in conventional testing expense by millions of dollars
- Limited years in unnecessary R&D and faster Investigational New Drug (IND) status achievement
"VeriSIM Life develops and implements a hybrid, tailored customer service approach: professional services and software-as-a-service. With a strong customer-centric approach, the company secures its position as a trusted partner, especially amongst small to mid-tier pharma and biopharma players," added Natalia Casanovas, a Frost & Sullivan Best Practices Research Analyst. For its strong overall performance, VeriSIM Life earns Frost & Sullivan's 2022 North American Competitive Strategy Leadership Award in the artificial intelligence-enabled preclinical development market.
"We are honored to receive this award and be recognized for our outstanding reputation and customer-centric framework that allows our clients and partners to achieve speedy and reliable research results," said Dr. Jo Varshney, CEO of VeriSIM Life. "Our aim is to accelerate the process of translating early molecules and candidates into approved safe therapies and make it more efficient. BIOiSIM is designed to integrate with what customers do rather than disrupt them."
"We are pleased to invest in VeriSIM's pursuit to advance AI-enabled drug research that could curb drug discovery costs for companies by as much as 70 percent," said Tanja Dowe, CEO of Debiopharm Innovation Fund. "Dr. Varshney and her team are solving difficult challenges for their clients and partners as they work to shorten timelines and design higher-quality, more targeted medicines for the patients most in need."
Each year, Frost & Sullivan presents this award to the company that leverages competitive intelligence to successfully execute a strategy that results in stronger market share, competitive brand positioning, and customer satisfaction.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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Contact:
Kristen Moore
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About VeriSIM Life
VeriSIM Life has developed a sophisticated computational platform that leverages advanced AI and ML techniques to improve drug discovery and development by significantly reducing the time and money it takes to bring a drug to market. BIOiSIM™ is a first-in-class 'virtual drug development engine' that offers unprecedented value for the drug development industry by narrowing down the number of drug compounds that offer anticipated value for the treatment or cure of specific illnesses or diseases. The program reduces the time and cost of drug discovery and development and dramatically reduces the need for animal testing that, in the vast majority of cases, does not translate to humans. For more information, visit www.verisimlife.com.
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SOURCE Frost & Sullivan
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