AI Biologit

Biologit

Nominated Award: Best Application of AI in a Startup

Website of Company: www.biologit.com

Clinical and drug safety is an important part of healthcare systems and critical in maintaining good patient outcomes. The WHO estimates 1 in 10 patients suffer harm from adverse drug reactions while in care.

Biologit was created out of its founders ambition to improve clinical and drug safety for everyone. By uniting deep expertise in pharmacovigilance and artificial intelligence, our vision is to deliver faster, smarter and safer processes for the industry, helping keep patients safe. Our first product, MLM-AI, targets the process of medical literature monitoring (MLM) of adverse events caused by medications, a worldwide legal requirement with an estimated cost of over USD 2 billion a year to the pharmaceutical industry, but the costs to patients and healthcare systems are too large to quantify, as it costs lives.

The costs and volume of work related to clinical and drug safety is rising with the number of new approved treatments and the growing volume of real world data. This industry lags behind in the adoption of AI-driven automation, relying instead on manual, labor intensive outsourced processes. We believe we can do better with AI: our first product targets medical literature screening of adverse events.

The pharmaceutical industry spends a lot of time and money on repetitive tasks including MLM. A lot of this cost and time is simply wasted on reviewing irrelevant articles using manual and error prone processes. MLM-AI, tackles this need using artificial intelligence and fine tuned workflows to deliver up to 70% process savings, and allows professionals to concentrate in tackling and predict important safety issues faster to protect patients lives.

Since its inception, biologit has increasingly achieved solid technology and market validation, resulting in a uniquely tailored product, positioning the company to tackle a greater number of challenges faced by this industry today.

Reason for Nomination:

We believe that using AI for the detection of adverse events in the scientific literature, will free time of pharmacovigilance professionals to work on the detection of new risks related medications and protect patients from medication harm.