New investments to create the future of personalized precision medicine

Though the field of precision medicine is in its infancy, it holds a great promise for the future. Market players, research organization, and governments have been taking new initiatives to develop personalized precision medicine. New investments have been made to advance the research activities and develop precision medicines for neurological diseases. In addition, virtual labs have been set up to bring the brightest minds in the field to develop a novel medicine. The development activities will continue in the coming years. According to the report published by Allied Market Research, the precision medicine market is expected to grow considerably in the coming years. Following are some of the activities taking place across the world.

Market players have adopted various strategies to advance precision medicine development by entering in the market. Raising funding is one of the major strategies adopted by them. NeuraLight raised the funding of $25 million in a Series A round led by Koch Disruptive Technologies. Other participants taking part in the funding round were Breyer Capital, VSC Ventures, Samsung NEXT, and Viz.ai co-founders Chris Mansi and David Golan, and others. The company will enter the market of precision medicine with the funding. Moreover, it aims to bring precision medicine for neurological diseases such as Parkinson’s, Alzheimer’s, MS, and ALS.

Dr. Micha Breakstone, the CEO of NeuraLight, highlighted that the pharmaceutical companies are unable to develop new drugs for neurological conditions. The major hindrance is inability to determine the state of the disease. The company developed a system that would record movement of eyes with the help of webcam and determine the neurological conditions. The objective of founding NeuraLight was to determine neurological disorders objectively and accurately. Moreover, it will bring precision medicine to determine the condition and developed personalized precision medicine for treatment. Its precise friction-reducing breakthrough will help in developing digital biomarkers and transform the field of neurology. The trend of raising funding will continue and advance the development of precision medicine.

Detailed Market Study

Along with raising funding, other initiatives taken to advance the field of precision medicine is to set up a collaborative virtual research institute (VRI). Such institute will be established in Abu Dhabi, United Arab Emirates (UAE). The purpose of establishment of this institute is to support the fundamental research activities and clinical trials leading to the development of precision medicine. ASPIRE , the technology arm of Advanced Technology Research Council (ATRC) from Abu Dhabi, will establish the VRI. Dr. Ray O. Johnson, the Acting Chief Executive Officer (CEO) of ASPIRE, highlighted that this VRI will be based on the “hub and spoke” model. The United Arab Emirates University (UAEU) will act as a “hub” and provide spokes to other research institutes and business organizations across the globe. This will create a huge network and bring the best minds in the field to collaborate together to solve fundamental problems. The funding of AED 70 million (approximately €17.5 million) will be provided to those who will work through this model. The development of personalized precision medicine will advance.

Related Post