ILIKOS Consulting Group and Simmunome announce strategic partnership
12:44 - 01 August 2023
Limassol-based ILIKOS Consulting Group has announced a strategic partnership with Canada-based Summunome, a company that integrates multi-omic data into algorithms that accurately mimic biological order, structure, and function.
Using this approach, Summunome says it attains highly accurate simulations of biological processes, for more faithful representations and predictions. ILIKOS, meanwhile, aims to promote positive drug development outcomes for life science companies by connecting them to the best possible solutions.
As noted in a press release on the strategic partnership, with the average new drug taking 10 years in clinical development, combined with a $2B+ price tag and 90% failure rate, the clinical research model is no longer sustainable in today's market conditions.
Furthermore, many drug failures happen at the late-stage of development, creating devastating losses and disappointment for patients and their families.
The significant growth of AI applications in drug development coupled with the decreasing cost of computing power required to analyze large datasets, enables more informed decisions and better investment strategies. Biological complexity remains the number one challenge in clinical research but with millions of past experiments and clinical trials performed by the collective scientific community and many results residing in the public domain, it's time to put it all together to create a holistic model of each disease.
"Working closely with emerging biopharmaceutical companies has been a foundational objective since our inception. Adding Simmunome into our ecosystem of strategic partners enables us to extend their cutting-edge AI technology to our clients, helping them de-risk their development programs, make better informed decisions and gain more control over outcomes" – said Elias Sayias BSc. CCRA, Founder and CEO of ILIKOS, which is based in Limasssol.
Simmunome untangles biological complexity using AI
With a robust disease-agnostic platform and an expertise in molecular biology, bioinformatics, machine learning, and computational biology, Simmunome is uniquely positioned to tackle the most complex biological questions related to disease mechanisms and how the molecular pathways are linked to clinical outcomes. The benefits of simulating clinical outcomes come in the form of better anomaly detection, future event forecasting and better clinical development decisions.
"Simmunome's platform can be leveraged by our clients in both academic and private sectors across all stages of development, starting from the early drug discovery process, enhancing operational efficiencies. This approach can solve key challenges while enabling faster and more efficient discovery and development of new drugs. We are very excited about the potential of this partnership." – said Dr. Styliana Mirallai, Corporate Development Manager.
"The crucial role of ILIKOS in providing comprehensive consulting services to biopharmaceutical and medical technology companies is imperative considering the increasing costs of clinical research and development while navigating an evolving regulatory landscape. This strategic partnership with ILIKOS presents an exciting opportunity for Simmunome, as we combine our expertise and resources to confidently make groundbreaking advancements in the field. We look forward to leveraging our platform capabilities and working closely with our partners to drive innovation and ultimately improve clinical development efficacies and more importantly, patient outcomes." said Dr Amstrong Murira, CEO of Simmunome.
"We are ecstatic to partner with ILIKOS because of the personalized approach they take with their clients. ILIKOS sees the value and tremendous power of AI in clinical development and is well-positioned to allow Simmunome to serve biopharmaceutical companies in North America, Europe, and the META regions," said Tanya Tolomeo, Head of Business Development of Simmunome.