UK drug discovery researchers will soon be able to use artificial intelligence (AI) to support their projects thanks to a partnership between Medicines Discovery Catapult and the online platform Chief.AI.
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The two groups have secured a grant from Innovate UK to help address the need for more accessible AI and data in the B2B marketplace – prioritising the drug discovery, diagnostics and clinical trials markets.
The aim is to provide an online platform that UK SMEs can use to access resources and expertise whole also indirectly contributing to new drugs, treatments and diagnostics. Users will be able to search by sector, utilise keywords and connect their own database to the relevant AI algorithm on a pay as you go model.
A grant of £370,000 will enable Chief.AI to create their searchable online platform, giving researchers access to downloadable, off-the-shelf AI models, algorithms and high-quality data. The idea is to connect to customers to suppliers in a secure, private environment.
Medicines Discovery Catapult will support the development of datasets and aims to provide exclusive access to their own AI algorithms; image processing models and medical images to predict potential drug targets performance.
The cost of failed drug trials ranges somewhere from $800 million to £1.4 billion, with 90% of potential drug candidates failing at some point during the clinical trials process.
It’s thought that AI can help solve many of the underlying issues with drug discovery. Deep learning algorithms for example could analyse molecules and predict how they might act in the human body at an earlier stage, potentially helping companies save money on needless R&D and clinical trials.
Professor John Overington, chief informatics officer of Medicines Discovery Catapult, said: “This partnership and funding clearly indicate the importance and value of artificial intelligence as a new approach to support UK SMEs and reinvigorate drug discovery. Our aim is to help deliver a platform which is of high value to UK SMEs to advance their own drug discovery projects faster and more efficiently by accessing otherwise inaccessible, complex technical expertise.”
Waqar Ali, founder of Chief.AI added: “The UK is where the first industrial revolution began, and we now want to accelerate AI provision throughout the world to become one of the biggest industrial force multipliers of the twenty first century. Chief.AI will make the discovery of drugs more efficient, at lower cost and will diagnose diseases earlier to enable better outcomes.”
Dr Kath Mackay, director - Ageing Society, Health & Nutrition, Innovate UK says: “Harnessing the capabilities of AI in medicine and in other fields is a key component of the government’s modern industrial strategy. Innovate UK’s support for Chief.AI and Medicines Discovery Catapult will help to allow SMEs to work more efficiently and rapidly in the realm of drug discovery. This will lead to real benefits for patients and help expand and grow this vital sector.”