Host: Welcome to a new episode of the Future Powered Podcast! Today, we're thrilled to have with us Mr. Luca Emili, the CEO of InSilico Trials. InSilico Trials is revolutionizing the pharmaceutical industry with a unique simulation platform that reduces R&D costs and accelerates drug approvals. Using the latest technologies like AI and machine learning, their approach is truly cutting-edge. Thank you, Luca, for joining us today.
Luca: Thank you, Suresh, and hello to everyone listening. I'm excited to share the journey of how we've leveraged deep tech to innovate drug development. Our mission is to provide researchers and scientists with a technological edge, creating value and a competitive advantage in their fight against disease.
Host: Absolutely. It's inspiring to hear about the impact you're making. Let's dive into your journey. Can you tell us how InSilico Trials came to be?
Luca: Of course! InSilico Trials started its market journey in 2022, but the groundwork was laid years before that. Our initial focus was on building the platform and establishing relationships with researchers who contributed the models we develop. It was a multi-phase effort, beginning with the technology itself, and then moving towards market readiness.
Host: Fascinating. What inspired you to develop a simulation platform like this?
Luca: The idea took shape after some PhD students joined our company and highlighted a growing interest in using simulation for drug and device development. We recognized an opportunity to make a significant global impact by harnessing existing technologies and scientific knowledge, rather than reinventing the wheel. Our goal was to create a platform that would allow researchers to tap into already established advancements, accelerating innovation and improving accessibility.
Host: It's amazing how your vision aligns with the needs of the industry. How did you build the expertise required for such a sophisticated platform?
Luca: Our approach was rooted in community engagement and collaboration, leveraging the internet and cloud technologies. We brought together models, algorithms, AI components, and data from various sources. By combining these elements, we aimed to create a robust ecosystem that accelerates innovation and empowers researchers in biotech, pharma companies, and research centers to use advanced simulations to enhance their work.
Host: Before platforms like yours, pharma companies had a different approach. What do they need to change to integrate your solution?
Luca: The pharma industry is undergoing a significant transformation, with a growing need to integrate advanced technologies like AI and modern simulations. This shift requires a foundational understanding of informatics and IT, which hasn't always been part of traditional processes. For many companies, it's about building awareness and training their teams to effectively use these digital tools, ultimately making R&D more efficient.
Host: And what kind of impact can your platform have on the time it takes for drugs to reach the market?
Luca: Typically, only a small percentage of compounds make it from Phase I trials to market, with an average timeline of about 12 years. Using our platform, which combines traditional clinical trial approaches with simulations, we aim to reduce this timeframe significantly—potentially bringing it down to around 8 years. This efficiency not only saves time but also maximizes the value of the drug’s patent period.
Host: That's impressive! But every innovation faces challenges. What has been the biggest hurdle for you?
Luca: Ironically, one of our biggest challenges is that our results can seem too good to be true. Some customers are skeptical of the speed and efficiency gains we promise. It often takes real-world examples and case studies to convince them that what we’re offering is not only possible but is already being successfully implemented by others.
Host: How do you approach the market and engage with potential customers?
Luca: Our strategy varies depending on the customer. For large pharma companies, we provide the technology to facilitate their internal simulations. For mid-sized pharma, who may already have in-house modelers, we offer a platform that allows them to distribute their simulations more effectively within their organization. And for smaller companies, we provide a more comprehensive solution that combines IT with our extensive library of models and algorithms, enabling them to achieve desired results without needing extensive internal expertise.
Host: It's clear that you're making a significant impact across the board. Thank you, Luca, for sharing your insights and the inspiring work you’re doing with InSilico Trials.
Luca: Thank you, Suresh. It's been a pleasure discussing our journey and the future of drug development. We're excited about the possibilities ahead!
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