Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the pharma sector. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, we are taking a look at 5 promising pharmacovigilance startups.
Heat Map: 5 Top Pharmacovigilance Startups
Using our StartUs Insights Platform, covering 1.116.000+ startups & emerging companies, we looked at innovation in the field of pharma. For this research, we identified 164 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and technology among others. Depending on your specific criteria, the top picks might look entirely different.
The Global Startup Heat Map below highlights 5 startups & emerging companies developing pharmacovigilance solutions. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 164 companies we analyzed for this specific topic.
HEPAprint – Adverse Drug Reaction (ADR)
Clinical trials play a pivotal role in drug development. Understanding the possible scenarios relating to drug safety with the help of technology proves beneficial for all stakeholders. Time is also of the essence in drug development, as competitive product-to-market lead times help pharma companies improve profitability. Time spent on clinical trials involves investment and being able to predict ADRs assists with improving the success rate.
British startup HEPAprint develops predictive software to prevent adverse drug reactions. With the help of artificial intelligence (AI) and individual genetic data, the software predicts the potential effects drugs have on specific genetic markers. Moreover, the software enables physicians to prescribe medications with a better understanding of the possible reactions to improve overall healthcare delivery.
MEDIKURA Digital Health – Post-Market Drug Safety
Even drugs that have been in the market for many years require continuous monitoring of adverse events and drug reactions. With the advancement in digital technologies, data collection from end-users enables pharma companies to take notice of certain trends. Startups are bringing pharma companies and patients closer to each other to solve critical issues such as adverse drug reactions.
German startup MEDIKURA Digital Health provides digital Software-as-a-Service (SaaS) for pharmacovigilance. The startup enables structured end-user data acquisition and involves the necessary stakeholders such as pharmacists, doctors, patients, and manufacturers. As a result, pharma companies derive actionable insights on adverse events or reactions caused by their products in real-time to initiate product callbacks or other actions, if needed.
Navro Technology Solutions – AI-Based Pharmacovigilance
Both single case processing and continuous monitoring of adverse events and drug reactions benefit from using artificial intelligence. Automation of repetitive and routine tasks enables quicker reporting and also helps in seamless real-time communication. Emerging companies develop AI-based solutions to improve the productivity of data reporting and the efficiency of drug development as a process.
Indian startup Navro Technology Solutions provides AI based pharmacovigilance solutions. With the help of deep learning and AI, the startup enables pharma companies to reduce the time taken to report adverse drug reactions. Natural Language Processing (NLP) and speech & text recognition further enable Navro to deliver error-free reporting of various clinical and regulatory information.
Embleema – Patient Advocacy
Clinical trials for different kinds of drugs often mandate differences in the patient pools. Patient advocacy enables the identification of the right patient pool and is critical to the success of trials. Technologies such as big data and deep learning enable algorithms to understand and correlate patient-specific genetic markers to better assess potential participants. Analytics solutions that cross-reference multiple data parameters and medical logic assist patient advocacy to further improve the accuracy of target identification.
Embleema is a US-based startup that offers patient advocacy solutions. With the help of big data analytics, the startup analyzes the data collected from target groups and enables better insights for the medical community as a whole. Patient advocacy groups enroll in Embleema Virtual Studies to share information on diseases and treatment solutions.
Cloudbyz – Cloud-Based Pharmacovigilance
Through the advent of digital transformation technologies, it is easy to collect, store, and process large sets of patient-specific data. As a result, pharmacovigilance benefits from the robustness of databases for diseases, medicines, and adverse events and drug reactions. Startups and emerging companies are creating cloud-based solutions to simplify the analysis of data from multiple sources.
The US-based company Cloudbyz develops cloud and mobile-based enterprise applications for pharmacovigilance. The solution integrates periodic adverse event reports, patient history, and business rules such as region-specific regulatory standards. As a result, the solution provides pharma companies with real-time data to track all the products in the drug development pipeline.
What About The Other 159 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence so you can achieve your goals faster. The 5 pharmacovigilance startups showcased above are promising examples out of 164 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.