Propharma Group has teamed up with healthcare analytics provider H1 to develop optimized AI and analytics solutions for drug and device R&D.
The partnership – financial details of which were not disclosed – will combine Propharma’s R&D capabilities with H1’s data and analytics technologies. The companies plan to leverage real world data from 240 million patients in the project.
Artificial intelligence (AI) will be a major focus according to Propharma and H1, which said they are committed to leveraging it to process data faster, decrease the time needed in the development process and discover new ways to ensure safety, measure results, and optimize for future application.
Michael Stomberg, Propharma CEO, said: “We are excited to join forces with H1, as this partnership will enable us to bolster our ability to provide data-driven insights to accelerate drug development, reduce costs for our clients, and deliver life-changing therapies to patients in need.
He added, “By continuing to invest in building the world’s largest RCO [research consulting organization] and combining our deep domain expertise with H1's data analytics capabilities, we are poised to make a significant impact in the pharmaceutical industry."
H1 CEO, Ariel Katz, predicted the collaboration would aid the development of new medicines.
"This collaboration represents a new era of drug development, where real-world data and advanced analytics play a crucial role in guiding research and development efforts. We are confident that our partnership with Propharma will lead to the discovery and development of innovative therapies that will transform patients' lives."
Propharma started calling itself a research consulting organization in January, explaining that it aims to deliver bespoke consulting and clinical solutions to the biotech, pharma, and device industrials.
The H1 collaboration comes just a few months after Propharma acquired UK-based life-science advisory firm Digital Lab Consulting.
The deal added capabilities in drug R&D services and consulting and provided a base of operations in Europe.