The money will be used to develop a computer program that can predict how the immune system will react to different substances, reports the company.
Today, Immunitrack is offering contracted research to the pharmaceutical industry predicting how the immune system react to different pharmaceuticals, by producing reagents that can be used to examine the immune systems reaction. The investment, made by Blenheim Capital Limited, will enable increased efforts in the development of a new Prediction Software using artificial intelligence (AI). The software is seen as a vital cornerstone for applying the technology from Immunitrack in large scale projects within cancer treatment and precision medicine.
Photo of Stephan Thorgrimsen, CEO and Sune Justesen, CSO: Immunitrack
Benefits of a new AI platform
The applications of the new AI platform are multiple: The technology increases vaccine potency, speeds up the development of personalized cancer vaccines and remove negative immunological effects. Additionally, it enhances precision medicine efforts by improving patient profiling and treatment selection, states the company.
Immunitrack was founded in 2013, it started commercialization of its products in 2016, and has grown its staff from 2 to 6 within the last 8 months.
AI holds promise for the future of medicine
About a month ago, the Food and Drug Administration made a move to encourage the use of artificial intelligence and other digital tools in medicine and drug development, by expanding a program it announced last year around digital health and establishing a new incubator focused on health technology. This was reported by Meg Tirrell for CNBC.
“AI holds enormous promise for the future of medicine,” said FDA Commissioner Scott Gottlieb. “We’re actively developing a new regulatory framework to promote innovation in this space, and support the use of AI-based technologies. We expect to see an increasing number of AI-based submissions in the coming years, starting with medical imaging devices, and we’re working with experts in the field.”
As part of the agency’s new incubator, which is called the Information Exchange and Data Transformation, or INFORMED, the FDA will focus on tools to improve cancer treatment and drug development.
