South
Korea’s leading biopharmaceutical association, the Korea
Pharmaceutical and Bio-pharma Manufacturers Association (KPBMA) has
recently announced plans to create an artificial intelligence (AI)
backed drug development support center to support the country’s new
drug development efforts with artificial intelligence computing
technologies.
The
technology aims to streamline the initial phase of drug discovery,
which involves analyzing how different molecules interact with one
another—specifically, scientists need to determine which molecules
will bind together and how strongly. They use trial and error and
process of elimination to analyze tens of thousands of compounds,
both natural and synthetic.
It’s
estimated that, on average, to bring one new drug to the market can
take 1,000 people, 12-15 years, and up to $1.6 billion.
Pharmaceutical companies are grappling with these scandalous costs
and constantly in search for inefficiencies in the drug discovery
process, and hope to fasten the process by focusing on key elements,
like management models, new technologies and creative study
approaches.
With
many new viruses and bacteria daunting the globe there is an
increased necessity to innovate and develop new drugs and safeguard
public health. Also with patent cliff looming large, pharma companies
need to evolve their R&D efforts to ensure that the core of their
business keeps pace with the changes. With increasing competition,
experts are looking at newer methods to speed up and increase
accuracy rates. One such approach is using Artificial intelligence in
drug discovery.
According
to Pae Young-wook, board member of the KPBMA’s research &
development committee, “Artificial intelligence can greatly aid
researchers in determining the most promising drug candidate as well
as setting up development procedures in a way that maximizes its
success potential.”
The
Association said it had begun working with around 20 local drugmakers
as well as the government to create this new AI-backed drug
development center. Its efforts are expected to go hand-in-hand with
the medical big data initiative being pushed by the current
administration, the association said.
The
Moon Jae-in administration has pledged to create a “fourth
industrial revolution” committee that would oversee the development
of transformative future technologies including AI and medical
biotechnology.
Many
big pharma companies have inked strategic deals with companies that
offer AI technology. Pfizer has adopted IBM’s AI software Watson
for Drug Discovery to expedite its immuno-oncology research, while
Israel-based Teva is using machine learning algorithms to support its
drug repurposing efforts. GSK and Sanofi have tied up with a Scottish
firm Exscientia.