Drugs without experiments
Studies say the cost of research and development of a drug can exceed 4 billion euros, a process that, apart from being costly, takes time until it is effective and the drug is released on the market.
In the startup industry, a number of companies are seeking to use artificial intelligence to find ways to develop new treatments faster. In Europe, according to Sifted, startups specializing in accelerating drug discovery and development through AI raised close to $2.7 billion in 2021. So far in 2024 most funds went to British startups ($366 million) followed by German and French ones.
“The production processes of a drug can be greatly accelerated, which gave us the impetus to look in that direction as well. Also, pharmaceutical and biopharmaceutical companies don’t want to release a drug in 10 years but in five, two or even one. This is where we also identified opportunities,” says Haris Christodoulou, one of the three co-founders of the PolyModels Hub startup company.
It was founded in May 2023 and is based in London, but recently, through PolyModels Hub GR, it gained a presence in Greece, aiming to cooperate with local pharma companies as well.
