SimplicityBio acquired by Precision for Medicine: Bringing AI algorithms to Medicine
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Venture Leaders alumni SimplicityBio is being acquired by Precision for Medicine developing QuartzBio™, a multiomic data integration and informatics platform. Unlike other artificial intelligences, SimplicityBio provides the possibility of using multiple biomarkers simultaneously in a white-box design. Read co-founder and CEO Matthew Hall's vision for AI algorithms in medicine.
Matthew Hall and Pedro Faustino, founders of SimplicityBio
In a few words, can you summarize the core innovation and mission of SimplicityBio?
SimplicityBio’s core mission is to extract knowledge and insight from clinical data to lead to disease mechanism understanding, drug target discovery, biomarker identification, patient stratification, and drug repositioning. To do so it uses a proprietary machine learning–driven technology to analyze biological, clinical, and digital data streams to interactively provide clients with intuitive and interpretable biomarker-based modes.
Which opportunity does this acquisition offer for SimplicityBio and Precision for Medicine?
This acquisition allows us to better serve our customers and in fine to targeting patient treatments more precisely and effectively. As artificial intelligence approaches are only as good as the data we can apply them to, joining Precision for Medicine and integrating our AI algorithms into QuartzBioTM multiomic data integration and informatics platform is a giant leap forward for SimplicityBio and Precision’s clients. We can now provide them with the most robust, sophisticated end-to-end solution for the 'big data' challenge observed in biomarker-guided drug development—furthering their mission of maximizing the value and utility of biomarker data generated in the course of a clinical trial.
How do you see your next steps for SimplicityBio?
The whole team will integrate Precision’s team to ensure the integration and growth of the technology and continuity of our mission extracting knowledge from clinical data to target patient treatments more precisely and effectively.
SimplictyBio participated to the Venture Leaders Life Sciences in Boston back in 2015 and you took part in the same program in China in 2016, how did it help you get to where you are today?
Venture Leaders Boston allowed us to confront our product and its presentation to U.S. investors and customers, promoting the fast-paced improvement of both that culminated with our first participation to the BIO international convention in Philadelphia and new customers.
Venture Leaders China was an eye-opening experience on the potential and pitfalls of China as a market. With the discovery of the fast pace and infinite possibilities of a billion-person market, as well as the size of the hurdles to be overcome to enter it successfully, allowing to strategically decide when and how we would like to address this challenge. With a great program and incredible support on site from Venturelab and Swissnex China, this experience is a must-have for any startup to discover China, expand and grow.
Meet Venture Leaders China Matthew Hall of SimplicityBio
Matthew Hall pitching SimplicityBio at Shanghai’s investors event during the Venture Leaders China roadshow 2018.
