Innoplexus launches Blockchain platform to drive Pharma innovation
Researchers can now share unpublished data securely on the blockchain
Global AI company Innoplexus launched today a groundbreaking blockchain platform to dramatically increase the amount of data available for drug research and discovery. This new platform—an update to Innoplexus’ flagship product iPlexus —is the first of its kind, and will allow researchers to upload and license unpublished data on the blockchain to facilitate collaboration, reduce duplicative work, and accelerate the pace of innovation.
The cost of developing new drugs continues to be a major issue in the industry, and the long-term R&D productivity challenge remains to be fixed. One main reason is the high failure rates for investigational compounds. Balancing the risk-reward equation is becoming an increasingly significant factor for pharma: the failure costs of new molecular entities are climbing, which in turn are dramatically raising the overall cost.
Ontosight has provided analytics and insights to hundreds of pharma companies since 2014, using AI technologies and the world’s largest life sciences’ ontology to normalize unstructured data from over 1 trillion data relationships from published journal articles, dissertations, clinical trials, and more. With today’s update, researchers will be able to upload unpublished experimental data from both successful and failed experiments to Ontosight. Insights from these unpublished experiments (especially from unsuccessful experiments) can help pharma companies reduce the time and cost of drug development significantly by avoiding duplicative work.
For its innovative technology, Innoplexus filed 12 patent applications, and more are in preparation. For a technical overview of the platform and additional details, please download the white paper.
Co-founder and CEO of Innoplexus, Gunjan Bhardwaj, shared his vision for the new iPlexus: “We are already in final negotiations with CROs, universities, and pharmaceutical companies, who see the power of this new architecture that provides a 360-degree view, thereby reducing the drug development cycle time. So many useful insights get lost when data from failed experiments go unpublished. Blockchain gives researchers a way to share unpublished data securely for the first time. More sharing of insights and data means more creative research, more successful clinical trials, and faster innovation. The end result is more effective, less expensive drugs for consumers.”
Innoplexus AG offers Data as a Service and Continuous Analytics as Service products and solutions that help organizations move toward continuous decision-making. By leveraging cutting-edge artificial intelligence and deep learning technologies, Innoplexus helps organizations generate insights from structured and unstructured private and public data. Founded in 2011, Innoplexus AG is headquartered in Eschborn, Germany, with offices in Pune, India, and Hoboken, USA. Learn more at innoplexus.
The original article was published on 24-7pressrelease.