Five new technologies that will reshape pharma
Emerging technologies continue to transform pharma. (1,124 words, 5.4 minutes)
Three weeks ago, Healthbiz presented readers with a list of the top five technologies reshaping pharma. Here are five additional technologies set to further revolutionize the pharma industry:
The Internet of Things (IoT):
According to Forbes, the Internet of Things (IoT) is set to reshape pharma by enabling more effective remote patient monitoring and decentralized clinical trials. The IoT, which refers to the network of connected devices that collect and exchange data, will allow for real-time monitoring of vital signs and other health metrics through wearable devices and mobile applications, facilitating more personalized treatments, improving patient outcomes, and potentially reducing hospital visits. The publication calls this “telemedicine 2.0” because it goes beyond the usual delivery of remote care and instead uses a more holistic approach. The widespread adoption of IoT could also lower barriers to entry for clinical trials, making them more accessible to diverse populations and improving the overall quality of data collected.
Personalized Medicine:
Personalized medicine is another trend that has been gaining momentum. Plain Concepts reports that this trend is driven by advancements in machine learning (ML), quantum computing, and other cutting-edge technologies. Researchers are increasingly able to develop therapies tailored to individual patients’ genetic profiles and specific health conditions. This shift away from a one-size-fits-all approach not only improves treatment efficacy but also minimizes adverse effects, improves patient engagement, and helps to bridge the gap between research and clinical care.
Digital Twins:
A paper in Technovation reports that digital twin technology is emerging as a powerful tool for simulating and optimizing various aspects of biotech operations. The publication describes digital twins as replicas of objects or systems, also called living models, because of their capacity to evolve using data. By creating virtual models of physical systems, such as manufacturing processes or even the human body, companies can test and refine their approaches without needing costly and time-consuming physical trials. For instance, digital twins of organs can be used to model the effects of new drugs, enabling more accurate predictions of their impact on patients. According to Forbes, researchers hope to advance a digital twin of the human brain by the end of 2024.
3D Bioprinting and Tissue Engineering:
According to the journal MedComm, 3D bioprinting technology is making significant strides in the life sciences industry, offering new possibilities for producing medical devices, implants, and even organs. Labiotech reports that advancements in bio-inks and handheld bioprinting tools show great promise for medical applications, such as creating bioartificial organs and supporting burn victims. The publication also notes that the market for tissue engineering is growing rapidly, driven by the need for regenerative medicines and ongoing technological advancements, with a projected value of US$8.9 billion by 2028. Furthermore, Forbes notes that in regions where access to medical supplies is limited, 3D printing can provide a rapid and cost-effective means of producing essential tools and equipment.
RNA Technology:
According to Labiotech, RNA technology is advancing rapidly, encompassing a range of RNA-based therapies such as mRNAs, miRNAs, siRNAs, and antisense RNAs, each targeting different mechanisms for disease treatment and immunotherapy. Innovations in gene-editing technologies, supported by strategic partnerships, are further accelerating this trend. Venkata Shravan K. Indurthi, the chief scientific officer at Aldevron, a company that manufactures cell and gene therapies, anticipates further sophistication in RNA technologies, particularly in treatments for diseases such as HIV and cancer. In an interview with the publication, Indurthi predicts advancements in both upstream and downstream manufacturing processes, as well as improvements in lipid nanoparticle design for mRNA delivery.
Additional reading:
THIS WEEK 09/03/24
Kye Pharmaceuticals’ ferric maltol (ACCRUFeR) received market authorization as a prescription medicine in Canada for the treatment of adults with iron deficiency anemia who are unresponsive or intolerant to other oral iron therapies.
The U.S. FDA approved Ascendis Pharma’s palopegteriparatide; developed as TransCon PTH (Yorvipath) for the treatment of hypoparathyroidism in adult patients.
Kye Pharmaceuticals’ methylphenidate hydrochloride extended-release oral suspension (Quillivant Er) is now available in Canada for the treatment of attention-deficit/hyperactivity disorder in children six to 12 years of age.
Bayer and NextRNA Therapeutics announced that they have entered into a collaboration and license agreement to develop small molecule therapeutics targeting lncRNAs in oncology..
NOW LISTEN UP
In season 12 of the NPC Podcast, Brian Bloom, CEO of Bloom Burton & Co., gives insights into changes in the Canadian Healthcare investment landscape, the return of the generalist investor, and the rise of consumer empowerment in healthcare. Hear him in conversation with podcast hosts Mitch Shannon, Jim Shea, and Mark McElwain.
HEALTHBIZ REWIND
This feature of NPC Healthbiz Weekly looks back at some of the most insightful moments from previous NPC Podcast episodes. In Healthbiz Rewind, you’ll read bold life sci predictions made during the renowned “Prognostication Korner” segment of the NPC Podcast.
Lee Ferreira
General Manager
Ferring Pharmaceuticals
Toronto
Season 01, episode 04
Listen to this episode here
What are the implications of new technological approaches on your team’s capacity, company efficiency, and overall impact? (This episode was recorded in July of 2020)
If we become more effective and efficient in how we engage, it could mean less downtime waiting in offices or with travel since we can create interactions in a more streamlined way. I see this evolving. We might need to develop new capabilities and competencies in our people, but it could also allow us to reallocate funds from traditional roles and reinvest them in aspects of healthcare that are more focused on patient needs. This would help patients gain better access to medication. I believe we can reinvest those dollars into areas that are more meaningful to the care, health, and well-being of patients.
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