World News: 12:55 GMT Tuesday 14th January 2020. [Scientist.com via Businesswire via SPi World News]
Scientist.com, the pharmaceutical industry’s leading AI-powered marketplace, announced today that it has partnered with Denovicon Therapeutics, an AI-powered computational chemistry company, to speed up medical research. Denovicon is the first in a wave of AI-powered biotech companies to make its services available to the tens of thousands of researchers using Scientist.com.
“Artificial intelligence and machine learning will play a significant role in the future of pharmaceutical R&D,” stated Kevin Lustig, PhD, Scientist.com’s CEO and Founder. “Making AI/Machine learning a key part of our marketplace functionality and partnering with innovative startups like Denovicon will help us achieve our mission of curing all human diseases by 2050.”
Less than a year old, Denovicon Therapeutics uses a proprietary computational platform and AI-powered molecular modeling algorithm to identify hits from a virtual library of billions of compounds and then transform them into clinical candidates. The hit rates are orders of a magnitude higher than traditional high-throughput screens (HTS) and the overall process is quicker with lower costs. Typical pharmaceutical drug discovery projects spend 6 years in preclinical development; Denovicon believes it can reduce that timeline to 2-3 years.
“Our goal is to accelerate and improve the discovery of small-molecule therapeutics using our proven computational platform, state-of-the-art hardware infrastructure and proprietary AI-molecular modeling algorithm,” said Scott Bembenek, PhD, Denovicon Therapeutics’ CEO and Founder. “We’re excited to partner with an established marketplace like Scientist.com whose mission is to accelerate the entire pharmaceutical research process.”
Scientist.com is the pharmaceutical industry’s leading AI-powered marketplace for outsourced R&D. The marketplace simplifies R&D sourcing, saving time and money, reducing risk and providing access to the latest innovative tools and technologies. Scientist.com operates private enterprise marketplaces for most of the world’s major pharmaceutical companies, the Biotechnology Innovation Organization (BIO) and the US National Institutes of Health (NIH). Since its founding in 2007, Scientist.com has raised $39 million from 5AM Ventures, Leerink Transformation Partners and Heritage Provider Network among others. Visitto learn more.
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About Denovicon Therapeutics
Denovicon Therapeutics (founded in April 2019) plans to transform the small-molecule drug discovery process (regardless of therapeutic area) using its proven computational platform powered by a cutting edge AI–molecular modeling algorithm. Learn more about Denovicon Therapeutics atand on .
Business Wire: 12:55 GMT Tuesday 14th January 2020
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