Greg Meyers, EVP and Chief Digital and Technology Officer at Bristol Myers Squibb, discusses AI's impact on drug discovery with a16z Bio + Health partner Jorge Conde. They explore AI integration strategies, emerging modalities, and tips for startups partnering with biopharma firms.
AI revolutionizes drug discovery in biopharma for better hit rates and targeted approaches.
Partnerships are vital for advancing AI applications in biopharma, aiming to optimize drug development processes.
Deep dives
AI's Impact on Drug Discovery
AI is revolutionizing drug discovery and development in biopharma, enabling more efficient and targeted approaches. By incorporating machine learning in predicting chemical reactivity, companies like BMS have seen significant improvements in hit rates and are scaling up these methods. The future holds potential for AI to transform research processes, with scientists possibly relying on predictive models before conducting wet lab experiments.
Partnerships Fueling Innovation
Collaborations and partnerships are crucial in advancing AI applications in biopharma. BMS engages in over 200 partnerships, combining in silico expertise with internal capabilities to drive innovation. By partnering with startups and building in-house expertise, they aim to optimize drug development processes and enhance research efficiency.
Technology's Role in Clinical Trials
Technology plays a pivotal role in improving the last mile problem in healthcare, particularly in clinical trials. Monitoring technologies and AI tools can help identify therapeutic responses early and ensure safety and efficacy. Leveraging wearables, AI models, and digital solutions can enhance patient monitoring, adherence, and biomarker assessment, aiding in personalized medicine.
Navigating Partnership Challenges
Successfully partnering with BMS requires startups to focus on clear value propositions and demonstrating value incrementally. It's essential to align with the company's needs, adapt to existing processes, and avoid rushing into commitments. Prioritizing product development over PowerPoint presentations and proving tangible results through flexible and low-expectation approaches can foster effective collaborations.
Greg Meyers, EVP and Chief Digital and Technology Officer at Bristol Myers Squibb (or BMS), joins a16z Bio + Health general partner Jorge Conde.
Together, they talk about how AI could transform drug discovery and development at a large biopharma company—and how a company might have to adapt to harness AI; modalities they’re excited about; and Greg’s do’s and don’ts for startups looking to partner with a company like BMS.
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