Australian CRO Avance Clinical has teamed with US artificial intelligence developer, Ryght Partner.
The partnership – financial terms of which were not disclosed – will see Avance offer its biotech industry customers access to Ryght’s generative artificial intelligence (AI) technology to expedite drug trials.
The aim will be to deliver “actionable insights to clinical research groups” according to Avance CEO, Yvonne Lungershausen.
“We are thrilled to collaborate with Ryght and utilize their GenAI platform to advance our clinical trial processes.
“Ryght’s innovative technology complements our dedication to innovation and excellence seamlessly. Through the application of AI, we aim to further support our biotech clients to develop transformative therapeutics in areas of unmet need.”
This was echoed by Ryght CEO, Simon Arkell, who said “This collaboration marks a pivotal moment for the progress of GenAI-powered solutions within the contract research organization (CRO) and biopharma sector.
He added, “Through centralizing collective knowledge and resources, both companies are poised to make a lasting impact on the future of healthcare.”
AI in clinical trials
The technology – known as GenAI – uses large language models (LLMs) to process live data streams and complex data.
Ryght – which previously operated as Synthetica Bio last August – launched Gen AI in January positioned the technology as an alternative option for firms using internal development teams to experiment with building GenAI applications.
According to the Ryght, such experimentation “can cost companies upwards of $2 million per year excluding labor costs.”
“This is out of reach for most companies who don’t have the bandwidth to prioritize costly, time-consuming projects if they are not tied directly to their mission. Ryght provides an option for life science companies to incorporate adaptable GenAI into everyday tasks to expedite workflows.”
Ryght has also teamed up with Lucem Health Partner, an organization that helps healthcare providers accelerate disease detection and treatment using AI.
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