Relief Therapeutics and InveniAI signs an agreement to identify promising drug candidates to treat rare and specialty diseases
Relief Therapeutics, on Wednesday, announced that it has signed a collaboration agreement with InveniAI, a U.S.-based company that has pioneered the application of artificial intelligence and machine learning across biopharma and other industries.
According to the terms of the agreement aimed to identify promising drug candidates to treat rare and specialty diseases, InveniAI will use its proprietary platform for the identification of potential pharmaceutical product opportunities using its Pharma Big Data Innovation Lab named “Platform”
On the other side, Relief will pay InveniAI an initial up-front fee, success milestones, and commercialization royalties for the full development program. Additional financial details were not disclosed.
“We believe that the addition of InveniAI’s AI-powered capabilities will meaningfully complement our existing drug development efforts. AI is becoming an increasingly important tool in identifying and screening new drug projects and Relief intends to fully leverage this promising technology,”Raghuram (Ram) Selvaraju, Chairman of Relief
He further says, “In partnering with InveniAI, we are accessing decades’ worth of expertise which has already led to successful drug re-innovation (e.g., vilazodone for treatment of depression and dexmedetomidine for treatment of agitation) and a proven platform that has been the basis of multiple partnerships with established companies. We believe that our work with InveniAI could generate multiple promising additions to our pipeline that may represent capital-efficient, cost-effective, and risk-mitigated approaches to product development.”
It is expected that InveniAI will utilize its Platform to navigate the volume of data for all regulatory agency-approved drugs and their associated active ingredients (Active Pharmaceutical Ingredient (“API”)) to identify potential rare and specialty disease indications for development and commercialization by Relief.
Selvaraju continues, “In focusing on the optimization of existing approved APIs, we hope to ensure well-established clinical safety and tolerability for the product concepts identified at inception, giving us a running start in pursuing the development of novel uses for these drugs. In our view, this approach will enable us to rapidly and efficiently execute innovation that brings relief to patients suffering from severe and debilitating conditions.”