InSilicoTrials: innovation through simulation
July 27th, 2020
We are happy to announce our Series A in InSilicoTrials, a cloud-based platform for modeling & simulation that helps pharma and medical device companies to reduce time and cost for R&D and regulatory processes up to 60%.
In silico technology — the adoption of predictive computer models — promises to drastically accelerate and amplify medical innovation and, ultimately, to provide quality healthcare for all.
Healthcare is struggling with challenging problems in terms of unsustainable costs and lengthy time-to-market processes. Today, an average of 2.6 billion dollars and up to 12 years of experimentation and dialogue with regulatory authorities are needed to bring a new drug to market. 95% of potential drugs, as a result of laboratory testing and clinical trials, do not reach it at all.
InSilicoTrials aims at digitizing and bringing the well-established benefits of simulation in Healthcare and Life Sciences.While the healthcare industry is lagging behind other industries such as aerospace and automotive for the large-scale adoption of simulation-based techniques, the market is ripe to undergo a digitalization process: the global biosimulation market has been estimated at about $1.65 billion in 2018 and is expected to generate about $4.58 billion by 2025, with a CAGR of about 15.7% between 2019 and 2025.
Founders Luca Emili and Roberta Bursi have been able to build a grounded ecosystem of simulation software providers, leading healthcare and life sciences companies, hospitals, universities, and research centers. In partnering with them, and sharing their mission to make advanced simulation tools available to the largest possible audience through InSilicoTrials cloud-based platform, we see an opportunity to bridge the gap from the scientific community to pharma and medical devices companies.
Besides the significant and fast-growing underlying market, the main drivers that led us to invest in InSilicoTrials are their strong team, both in terms of entrepreneurial and technological skills, highly valued in the scientific research community; and the close connections tied with relevant regulatory, institutional, scientific, and corporate players.
The interest of leading companies, regulators, and policymakers for in silico approach is probably one of the most interesting aspects. In fact, modeling & simulation (M&S) is recommended by regulators as an increasingly important tool for the development and approval of new biomedical products:the FDA and the EMA are strongly supporting the implementation and use of model and simulation practices for pre-clinical studies and clinical trials.
Health care is a fundamental right of every human being and the events of the past months have shown governments around the world the importance of investing in scientific research. The field of science and research has been put under pressure to find a rapid solution to the pandemic that has caught us all unaware, but scientific research needs a constant activity oriented to the long term and characterized by a logic of “trial and error”. In this perspective, in silico technologies will play an increasingly important role, and their impact on society will be ever greater.
We are enthusiasts of the disruptive potential of modeling & simulation in Healthcare and Life Sciences, and we believe that InSilicoTrials, leveraging SaaS capabilities, offers a great opportunity to amplify digitization to a sector as critical for the collective well-being.
InSilicoTrials is accelerating the pace of medical innovation, and we are excited to be a part of the journey.