An Orlando firm has formed a partnership with a North Carolina data management company that is aimed at the pharmaceutical industry.
Founded in 2022, Orlando’s Vitality TechNet — which helps organizations and companies digitize operations and empowers them to use data to its fullest potential while prioritizing security and protection — has partnered with Fluree to build a semantic data infrastructure for pharmaceutical organizations looking to enable digital regulatory information management and accelerate drug discovery. Fluree develops secure database management platforms in Web3.
Together, the two organizations hope to alleviate problems within the pharmaceutical industry. Fluree and Vitality TechNet believe that efficient and credible data sharing can lead to better processes, ultimately cutting costs, enabling more collaboration and potentially saving lives. In the partnership, the two companies will enable regulatory information management (RIM) functions to reduce error in regulatory submissions, identify potential risks and enhance safety monitoring.
As an industry, pharmaceuticals struggle with lengthy timelines and low success rates for new drugs and treatments. A study from QLS Advisors, Informa Pharma Intelligence and BIO found that drug development takes an average of 10.5 years, with only a 7.9% probability of a drug candidate in Phase I discovery receiving approval.
“We are thrilled to partner with Fluree on this groundbreaking effort to shorten the development timelines, especially in an industry in which time is truly of the essence,” said Steve Hamby, a senior semantic engineer at Vitality TechNet. “The joint solution promotes better data management, sharing and collaboration, leading to faster decision-making, increased success rates and, ultimately, the development of more effective drugs to improve patient outcomes.”
Meanwhile, Fluree’s technology provides an alternative to pharmaceutical data silos, allowing organizations to implement AI-driven data strategy to align with identification of medicinal products (IDMP) standards.
“Fluree is a perfect fit for pharmaceutical organizations seeking to balance regulatory compliance with innovation and to accelerate drug discovery, efficacy and efficiency,” said Eliud Polanco, president of Fluree. “Our ML-based data transformation pipelines and secure knowledge graph technology make it easier to share data across silos in a very safe and privacy-preserving way. This is what will enable more efficient regulatory reporting, faster discovery and continuous collaboration that can yield life-changing results.”
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