Korean biopharma association to open AI-backed drug development support center

South Korea’s leading biopharmaceutical association has set out to form a new center that will support the country’s new drug development efforts with artificial intelligence computing technologies.The Korea Pharmaceutical and Bio-pharma Manufacturers Association said Monday that it is working to create an AI-backed drug development support center this year to expedite ongoing efforts by local drugmakers to develop new blockbuster therapies for diseases.New drug development is a lengthy, high-risk and capital-intensive endeavor. According to the KPBMA, it takes an average of 10 years and around $2.4 billion in funding to develop a new drug. Officials from the Korea Pharmaceutical and Bio-pharma Manufacturers Association discuss its agenda for Korea’s biopharma sector in a press conference held at the association’s headquarters in Seoul, Monday. (KPBMA) The process begins by examining around 5,000 to 10,000 new drug candidate substances and narrowing it down to one substance to be further pursued. This early development stage is where artificial intelligence and big data can lend a big hand, said the association.“Artificial intelligence can greatly aid researchers in determining the most promising drug candidate as well as setting up development procedures in a way that maximizes its success potential,” said Pae Young-wook, a board member of…


Link to Full Article: Korean biopharma association to open AI-backed drug development support center

Pin It on Pinterest

Share This

Join Our Newsletter

Sign up to our mailing list to receive the latest news and updates about homeAI.info and the Informed.AI Network of AI related websites which includes Events.AI, Neurons.AI, Awards.AI, and Vocation.AI

You have Successfully Subscribed!