PYMNTS.com October 11, 2024
Artificial intelligence (AI) is transforming pharmaceutical research, compressing timelines and potentially slashing drug prices in an industry defined by decade-long development cycles and billion-dollar price tags.
This technological upheaval is exemplified by projects like the AI-driven RNA Foundry (AIRFoundry), part of a $75 million investment by the U.S. National Science Foundation (NSF) in five biofoundries. The initiative aims to leverage AI to streamline RNA research and drug development, representing a broader trend of integrating advanced technologies into pharmaceutical processes.
“There are great commercial benefits to be made by pharma companies that can incorporate the use of AI in their research activities,” Thomas Kluz, managing director at the venture capital firm Venture Lab, told PYMNTS. “First of all, there is the...
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