After flying high in 2022, digital therapeutics (DTx) companies crashed to Earth in 2023 and scrambled to identify a path to profitability, or at least continued viability.
A panel at the J.P. Morgan Healthcare Conference touched on how multiple remote patient monitoring devices and management can be streamlined via machine learning to identify patients who need follow up, in many cases in their homes, increasing value without increasing the burden on already short-staffed health care organizations. The panelists saw technology as a way around a shortage of providers that could both increase access to care and deliver more targeted acute care while also addressing factors in health disparity to prevent development of disease.
Biofourmis Inc. secured $300 million in a series D financing led by General Atlantic, with participation by CVS Health and existing investors. The round lifted the Boston-based company’s valuation to more than $1 billion and unicorn status, according to executives. Biofourmis will use the funds to drive next-stage growth in its virtual care offerings and digital therapeutics (DTx).
Biofourmis Inc. won a breakthrough devices nod from the FDA for its Biovitalshf solution, a digital therapeutic for patients with heart failure with reduced ejection fraction (HFrEF). The company, which is pursuing the de novo pathway for the therapy, plans to launch a pivotal trial next month. Biovitalshf is intended to augment guideline-directed use of heart failure medications to manage patients in combination with traditional pharmacotherapy. The software application integrates physiological monitoring, symptoms and signs reporting, patient engagement, medication management and communications to provide clinicians with personalized and specific recommendations about their medication.
The pace at which companies are integrating the sophisticated tools of artificial intelligence (AI) and machine learning (ML) into their early stage drug discovery and development programs is accelerating, as evidenced by the creation of new dedicated AI-focused biopharma companies and the eagerness of drug developers to partner with AI firms.
The pace at which companies are integrating the sophisticated tools of artificial intelligence (AI) and machine learning (ML) into their early stage drug discovery and development programs is accelerating, as evidenced by the creation of new dedicated AI-focused biopharma companies and the eagerness of drug developers to partner with AI firms. A panel at the BIO Investment Forum delved into the impact of AI on the sector and its ability to assist scientists in uncovering the intricacies of disease mechanisms and lead them toward novel drug targets.
HONG KONG – Novartis AG was cited during the recent 2020 KoNECT-MOHW-MFDS International Conference as an example of a biopharma firm staying ahead of the artificial intelligence curve.
HONG KONG – Novartis AG was cited during the recent 2020 KoNECT-MOHW-MFDS International Conference as an example of a biopharma firm staying ahead of the artificial intelligence curve. During this week’s 2020 Bioplus Interphex Korea conference, Won Kim, head of innovation at Novartis Korea, described some of the firm’s latest forays into AI, including negotiations with potential partners to develop an AI image analysis solution for retinal diseases.
The BioWorld Artificial Intelligence price-weighted index, which includes biopharmaceutical companies, medical devices and health care services companies, has climbed in value and is currently up almost 37% year-to-date.
The BioWorld Artificial Intelligence price-weighted index, which includes biopharmaceutical companies, medical devices and health care services companies, has climbed in value and is currently up almost 37% year-to-date.
