How Do Pharma and Digital Health Converge in 2024?
Biotech is one of the fields that has been using generative AI for years before ChatGPT brought technology to the public view. The latest tech is essential in drug development. However, the convergence of digital health and pharma seems less clear.
“It takes about almost 10 years to bring drug to market. That's a long run. It means that somebody in the company leadership is willing to put his hand deep in the pocket and commit to a huge budget, a long-term view. My experience with digital health is that the executive leadership in Pharma doesn't have such patients for digital health solutions. They can give you a year or two years. And I think this is something that I'd like to see being changed so that those leadership understand that it takes several more years,” says Amir Lahav, Digital Health Innovation Advisor for Pharma and Medtech from the US.
Ups and Downs of Digital Health in Pharma
Digital health apps started gaining popularity around 2015, and at the time, it seemed all pharma companies were trying to figure out what they could get out of apps, so they financed accelerators and incubators one after the other.
We've seen many ideas around how Pharma should or could use digital health.
In the last few years, however, there have been many notorious cases when partnerships failed - A seeming unicorn Proteus which designed digital sensors equipped pills, went bankrupt in 2019 after Otsuka Pharmaceuticals pulled out of a funding round. Pear Therapeutics, the guiding star in the DTx space, the leader in FDA-cleared prescription digital therapeutic, partnered with Novartis, but in the end the company filed for bankruptcy in 2023. So, where is Pharma in relation to digital health and digital therapeutics? In this episode, Amir Lahav shares his thoughts about the impact of AI on biotech, the state of decentralized clinical trials, and the potential of tech for improved drug development. Clinical trials and patient responses.
If we look at the convergence of pharma and biotech, the outside view shows limited success: Roche has acquired the Swiss developer of diabetes management app, mySugr in 2017. It acquired Flatiron Health in 2018 - a market leader in oncology-specific electronic health record (EHR) software as well as in the curation and development of real-world evidence for cancer research.
Today, says Amir Lahav, Digital Health Innovation Advisor for Pharma and Medtech from the US, pharma companies are much clearer about their hopes in digital health.
Tune in to the full discussion.
Show notes:
[00:00:00] Introduction
Brief on the use of AI in biotech for drug development.
[00:02:00] The Convergence of Digital Health and Pharma
Discussion on the role of digital health apps in pharmaceuticals.
The rise and fall of pharma and tech company partnerships, with examples like Proteus and Peer Therapeutics.
[00:04:00] Guest Introduction - Amir
Amir, a digital health innovation advisor, shares insights on digitalization and AI in pharma and biotech.
[00:06:00] AI Trends in Biotech and Pharma
The impact of AI on drug development timelines.
How AI is changing the drug development process from laboratories to algorithms.
[00:08:00] Enhancing Clinical Trials with AI
Improving the efficacy of clinical trials through AI and continuous patient monitoring.
[00:10:00] The Importance of Data in Clinical Trials
The role of AI in analyzing extensive clinical trial data for better outcomes.
[00:12:00] The Reality of Oncology Trials
Discussion on common endpoints in oncology trials and the importance of patient quality of life.
[00:14:00] Quality of Life in Medicine
Emphasizing the importance of quality of life in clinical trial outcomes.
[00:16:00] The Rise of Virtual and Decentralized Clinical Trials
The current state and future of remote, virtual, and decentralized clinical trials.
[00:18:00] Pharma's Evolving Digital Health Strategies
How pharmaceutical companies have shifted their strategies regarding digital health solutions.
[00:20:00] Learning from the Past
The importance of strategic movement and learning from previous digital health endeavors.
[00:22:00] Impact on Digital Health Industry
Discussing the effect of pharma's changing digital health strategies on the industry.
[00:24:00] Collaboration and Sharing Knowledge
Trends in knowledge sharing and collaboration in digital health across the pharmaceutical industry.
[00:26:00] Building a Strong Foundation
The need for long-term investment and strategic piloting of digital health solutions in clinical trials.
[00:28:00] What Inspires in Pharma and Biotech
Insights into the future of personalized medicine and AI's role in individualized treatment.
[00:30:00] The State of Precision Medicine
Expectations and reality of precision medicine and targeted therapies.
[00:32:00] The Potential of AI in Personalized Medicine
The exciting future of AI in creating personalized treatment plans and managing health.
[00:34:00] The Role of Pharmacogenomics
Discussing the underutilization of pharmacogenomics in clinical trials.
[00:36:00] Anticipations for 2024 and Beyond
Predictions for the development of biotech and medtech and the importance of bridging communication between the two sectors.