Despite significant advancements in technology, developing drugs remains difficult and costly. It now often takes up to a decade and costs around $2.7bn to develop a new drug average. What impact could AI have on the UK’s drug discovery sector and what is investor appetite like?
A report published by Dealroom last month found the vast majority of investment going to the first phases of the discovery pipeline can be justified only with the belief that new AI and computational discovery platforms can improve clinical success rates.
Hugo Villanueva, biotech investor at Octopus Ventures, says the omnipresent role of AI in both the drug discovery and development market is already apparent around the world, with the US leading the charge and the UK following close by….
