Bionext, a bioinformatics company, announces the launch of BioSight, an online bio-simulation platform designed for efficient identification of possible side effects of potential drug treatments on the human body. As result of fifteen years of molecular biology R&D, BioSight uses a patented algorithm that is able to predict all of the potential biological targets that are at risk of interacting with a potential drug treatment. Available as Software as a Service (SaaS) or on-site, BioSight, at an affordable price and within a few hours, enables pharmaceutical and biomedical research professionals to better develop their molecules, reduce the failure rate during the clinical trial phase and, therefore, optimize their return on investment.
3.975 billion dollars per drug
That is the average total cost of R&D needed for pharmaceutical companies to launch a new drug on the world market.1 According to LEEM, out of 10,000 target molecules, 10 will become part of patents filed and only one of those will become part of a new drug being sold. The failure rate of drug candidates is particularly high and drug research is primarily abandoned late in the R&D process and advanced stages of clinical research when side effects are most likely to become apparent. These failures typically cost upwards of hundreds of millions of dollars.
It is also estimated that around 85% of these failures occur due to biological reasons linked to problems of effectiveness or toxicity caused by interactions between the drug and targets different than the one the drug is being developed for.
Digital technologies for accelerating therapeutic innovations
With its BioSight platform, Bionext's ambition is to completely change the current process of developing and making medications- all thanks to digital technology. Goal: lower the entry cost to the therapeutic innovation market by offering thousands of small companies, laboratories and researchers with access to technologies that were previously out of their reach.
In order to accelerate the development of BioSight and to strengthen its position in the bioinformatics market, Bionext hopes to raise more than 5 million Euros in funding over the next 18 months.
1How Much Does Pharmaceutical Innovation Cost? Forbes, 2013