Launch of LighthouseAI, an AI-Based Venture Unit to Solve Commercial Regulatory Compliance for the Life Sciences Industry
LOS ANGELES, February 1, 2023 (Newswire.com) - Pharma Solutions, a leading provider of compliance services in the life sciences industry, today announced the establishment of a new corporate venture unit and product suite, LighthouseAI™.
LighthouseAI aims to solve compliance with a first-mover, AI-powered SaaS product suite that will fundamentally change the approach that the life sciences industry takes for compliance. This purpose-built technology will help reduce the risk, time, effort, and cost associated with commercial regulatory compliance through the application of its patent-pending AI engine.
To lead this new technology and venture unit, Pharma Solutions CEO Sumeet Singh will be transitioning to CEO of LighthouseAI effective Feb. 1, 2023.
"We simply created a better way for our clients to manage the patchwork of regulation applicable to the life sciences industry. Regulation is difficult because of the dynamic and complex landscape which consists of over 80 state agencies creating and enforcing rules based on various federal and state laws that result in over 2,000 compliance requirements. These requirements may apply to any of the 65,000 companies within the industry depending on over 100 unique attributes of the company at the facility level," says Singh. "With the development of our category-defining 'RegTech' venture unit, we aim to automate and technologically enable a historically manual, complex, and painful compliance journey."
Singh will remain Chairman of Pharma Solutions to ensure that current levels of support for all clients and partners remain unchanged. He will pass leadership of the company to Nathan Fox, who will transition from Chief Operating Officer to President of Pharma Solutions.
"I have worked hand in hand with Sumeet since I joined in July 2019, and together we have grown Pharma Solutions into the leading provider of compliance services in the life sciences industry. I am proud of our ability to deliver solutions that overcome key compliance challenges. Looking forward, I am wholly confident in our ability to continue our growth trajectory and maintain our relentless passion for helping clients meet their business and compliance objectives," says Fox.
Learn more about LighthouseAI and its forthcoming AI-powered product suite by joining the waitlist here: https://sneakpeek.lighthouseai.com/solving-compliance-with-ai/.
About Pharma Solutions
Since inception, Pharma Solutions has assisted over 600 companies in responding to the ever-fluctuating patchwork of state and federal compliance requirements. We offer a wide range of strategy, consulting, and technology-based solutions for the pharmaceutical supply chain industry. Our clients range from international drug manufacturers with $10 billion+ in annual revenue to family-owned pharmacies. For more information about Pharma Solutions, please visit www.pharma.solutions or email us at email@example.com.
LighthouseAI markets a single-source SaaS solution called LighthouseAI that applies AI to automate and technologically enable compliance for the life sciences supply chain to reduce costs and risk. For more information about LighthouseAI, please visit www.LighthouseAI.com or email us at firstname.lastname@example.org.Contact Information:
Original Source: Launch of LighthouseAI, an AI-Based Venture Unit to Solve Commercial Regulatory Compliance for the Life Sciences Industry