- Google Cloud launched two new AI-powered solutions that aim to help biotech and pharmaceutical companies accelerate drug discovery and advance precision medicine.
- The two suites mark Google’s latest advancements in the red-hot AI arms race.
- The solutions also tackle the lengthy and costly process of bringing a new treatment to the U.S. market.
- Big Pharma’s Pfizer and biotech companies Cerevel Therapeutics and Colossal Biosciences are already using the solutions.
Cloud on Tuesday launched two new AI-powered tools that aim to help biotech and pharmaceutical companies accelerate drug discovery and advance precision medicine.
One tool, called the Target and Lead Identification Suite, is designed to help companies predict and understand the structure of proteins, a fundamental part of drug development. Another, the Multiomics Suite, will help researchers ingest, store, analyze and share mass amounts of genomic data.
The new developments mark Google’s latest advancement in the red-hot AI arms race, where tech companies are competing to dominate a market that analysts believe could someday be worth trillions. The company has faced pressure to showcase its generative artificial intelligence technology since the public release of OpenAI’s ChatGPT late last year.
Google announced its generative chatbot Bard in February. Shares of its parent company Alphabet rose 4.3% last week after Google unveiled several AI advancements at its annual developer conference.
The two new Google Cloud suites help address a long-standing issue in the biopharma industry: the lengthy and costly process of bringing a new medicine to the U.S. market.
Drug companies can invest anywhere from a few hundred million dollars to more than $2 billion to launch a single drug, according to a recent Deloitte report. Their efforts aren’t always successful. Medicines that reach clinical trials have a 16% chance of being approved in the U.S., another Deloitte report says.