WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Fluree, which has developed a knowledge graph database and semantic data pipeline toolset for secure and trusted data sharing, today announced a partnership with Vitality TechNet to build a semantic data infrastructure for pharmaceutical organizations looking to enable digital Regulatory Information Management and accelerate drug discovery.
Fluree — which recently closed its $10M Series A funding round — provides data infrastructure technology to enable trusted, linked and composable data management and sharing. Fluree provides first-class data security, audit and sharing capabilities needed by pharma organizations as they look to implement IDMP standards and build data collaboration platforms.
“Fluree is a perfect fit for pharmaceutical organizations seeking to balance regulatory compliance with innovation and accelerate drug discovery, efficacy and efficiency,” said Eliud Polanco, Fluree president. “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.”
The pharmaceutical industry has long grappled with lengthy timelines and low success rates for new drugs and treatments. A recent report found that drug development processes take an average of 10.5 years, with only a 7.9% probability of a drug candidate in “Phase I Discovery'' receiving approval. But efficient and credible data sharing can spur better processes with the potential to save lives, cut costs and enable more collaboration across the pharmaceutical industry.
Fluree’s technology provides an alternative to disparate pharma data silos, allowing organizations to implement an AI-driven data strategy for semantic alignment with the IDMP ontology, promoting ongoing collaboration across internal departments, external partners and regulatory offices.
Through this partnership, Fluree and Vitality TechNet will enable RIM (Regulatory Information Management) functions to reduce error in regulatory submissions, streamline the identification of potential risks and enhance safety monitoring. This will allow for more efficient drug development processes and reduce the time and costs associated with late-stage failures.
“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, Sr. 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.”
The European Medicines Agency (EMA) is expected to become the first health authority to enforce ISO IDMP compliance before the end of 2024, and the FDA will likely follow shortly after that, according to the Pistoia Alliance. But poor alignment between regulatory bodies could prompt integration problems that lead to significant expenses, impede drug safety and stifle innovation.
Fluree and Vitality TechNet share more details about the innovations this partnership will empower in this whitepaper, “Improving Pharmaceutical R&D with Data Collaboration.” The companies also will co-present on IDMP-O: Drug Safety, Innovation, and Regulatory Compliance with Applied Semantics and AI in an Aug. 17 webinar.
To learn more about this partnership, please visit flur.ee/idmp.
Co-founded in 2016 by CEO Brian Platz and Executive Chairman Flip Filipowski, Fluree PBC is headquartered in Winston-Salem, North Carolina. Fluree is pioneering a data-first technology approach with its Web3 data management platform and AI-powered data-transformation pipeline. It guarantees data integrity, facilitates secure data sharing and powers data-driven insights. The Fluree platform organizes blockchain-secured data in a scalable semantic graph database — establishing a foundational layer of trusted data for connected and secure data ecosystems. The company’s foundation is a set of W3C semantic web standards that facilitate trusted data interoperability. Fluree currently employs 50. For more information, follow Fluree on Twitter or LinkedIn, or visit flur.ee.
About Vitality TechNet
Vitality TechNet is dedicated to empowering organizations in their digital transformation journey, unlocking the potential of their data while ensuring its security and protection. Our vision centers on harnessing the power of technology to create a more connected, informed, and sustainable world. As a responsible and ethical organization, we prioritize data privacy, security, and transparency in all our operations.
Vitality Technet boasts extensive experience across a diverse range of industries such as Financial Services, Pharma, Government, Department of Defense, Transportation, Travel, and Creative Industries. Vitality TechNet specializes in helping organizations digitize their operations, free their data, and equip it with a protective armor that upholds the highest standards of security and privacy.