The promise of using simulated patients from real world data in life sciences research and development
In the life sciences industry, research and development has been an essential source of value creation and success; the intellectual property of pharmaceutical innovation has been measured in the billions of dollars for decades, and even as the market shifts to smaller, more narrowly focused therapies, the collective portfolio of large biopharmaceutical companies will remain highly valuable and the primary method for how companies will monetize their output. Research is the means by which value is created and produced. Like AI talent, the skills and expertise needed to conduct biopharmaceutical research are in demand and will remain expensive and scarce.
Recognizing the potential promises and perils of using real world data in life science research, the Indiana Bioscience Research Institute, the Cardinal Health Fuse Innovation Center, and Virtusa collaborated on a project in the fall of 2018, with the goal to test and validate the potential benefits of simulated data optimized to match the complexity of real world sources. Each organization contributed its own unique value and experience to the project.
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