Innoplexus Brings Blockchain to Pharma
Global AI firm Innoplexus launched an innovative blockchain platform to dramatically raise 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to Innoplexus' flagship product iPlexus is the first of its kind and will enable researchers to upload and license unpublished data on the blockchain to facilitate collaboration, reduce duplicative or falsework, and enhance the pace of advancement.
The expense of developing new drugs continues to be an area of concern, and the long-term R&D productivity challenge remains to be constant. One primary reason is the high failure rates for investigational compounds. The failure expense of new molecular entities are rising, which in turn are dramatically raising the overall cost of drug development.
Since 2014, iPlexus has provided analytics and insights to hundreds of pharma companies using AI innovation and the world's largest life sciences' ontology to study the unstructured data from over 1 trillion data relationships from published journal articles, clinical trials, dissertations, and many other sources. With this new update, researchers will be able to upload unpublished experimental data from both successful and failed experiments to iPlexus. Insights from these unpublished experiments (especially the one which had unsuccessful trials) can help pharma firms to lessen the time and cost of drug development significantly by avoiding duplicative work. For its innovative technology, Innoplexus has filed 12 patent applications, and are planning to add more in the preparation.
CEO of Innoplexus, Gunjan Bhardwaj, said, "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. Blockchain gives researchers a way to share unpublished data securely for the first time.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 result is more effective, less expensive drugs for consumers."