VeriSIM Life Announces Acquisition of Molomics Biotech
SAN FRANCISCO--(BUSINESS WIRE)--VeriSIM Life (VeriSIM) www.verisimlife.com, the leading Artificial Intelligence (AI)-enabled, unique R&D decisions de-risker for breakthrough drug development, today announced the acquisition of Molomics Biotech, a privately-held drug discovery company that leverages proprietary AI technology to design more efficacious and safer therapeutics to achieve higher successes in clinical trials.
Founded in 2015 in Barcelona, Catalonia, Spain, Molomics integrates AI with Human Collective Intelligence (HCI) to determine novel chemical structures with high therapeutic activity and superior pharmacological properties as developed or marketed drugs. Molomics has used this approach toward advancing the treatment of Parkinson's Disease to develop a drug that addresses Levadopa Induced Dyskinesia, a movement disorder that affects Parkinson patients.
Molomics’ technology will seamlessly integrate into VeriSIM’s 'virtual drug development engine', BIOiSIM™, to further improve the success rates for the discovery, development and approval of new drugs for the most challenging diseases impacting humankind. This combined discovery and translational engine will allow pharmaceutical researchers to preflight advancements in medicine in a fraction of the time and cost it takes today and provide far better outcomes than the 8% success currently seen in medicine making it to market.
“This acquisition represents a considerable step forward in our strategy to accelerate our growth over the long term and supplement our proprietary software platform to develop effective patient therapies more rapidly and accurately than traditional methods,” said Dr. Jo Varshney, founder and CEO of VeriSIM Life. “Along with advancing research in Parkinson’s Disease, we plan to cover the full spectrum of drug discovery and development for the treatment of neurological, oncological and other life-threatening diseases.”
“We are excited to join the team at VeriSIM Life and infuse an already powerful translational prediction platform with our unique and highly complementary discovery technology,” said Dr. Jascha Blobel, CEO of Molomics. “Our early collaboration has achieved promising initial results, and we believe the best is yet to come.”
Molomics Biotech SL:
Molomics is a drug discovery and development company that uses Artificial Intelligence (AI) to create more efficacious drugs with fewer side effects. The power of its technology lays in combining AI with Human Collective Intelligence (HCI), which allows specialists to detect imperfections in drugs designed by AI. Molomics' goal is to standardize drug design to enable effective development of new drugs that will allow to come up with the future medicines of humankind. For more information, visit: www.molomics.com.
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 greatly 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 not only reduces the time and cost of drug discovery and development, it also greatly 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.