Tuesday, 15th of August, 2017, Baltimore, MD - Insilico Medicine, Inc, a Baltimore-based next-generation artificial intelligence company today announced a research collaboration with The Bitfury Group, the world's leading full-service blockchain technology conglomerate, to develop novel solutions for healthcare applications. The companies signed a memorandum of understanding (MOU) to collaborate in the academic and commercial settings to develop AI on Blockchain solutions for the healthcare industry.
"Blockchain can secure and streamline our medical systems, while AI has the potential to revitalize data management and machine learning to help identify trends and diseases," said Valery Vavilov, founder and CEO of The Bitfury Group. "By partnering with Insilico, we will be able to combine their expertise in deep learning and bioinformatics with our Blockchain proficiency and real-time solutions to create bespoke and innovative new products for the healthcare sector."
"The Bitfury Group is one of the most reputable companies in Blockchain developing their own semiconductors and end-to-end Blockchain solutions trusted by the major corporations and governments worldwide. We are happy to enter into a research collaboration with Bitfury to develop innovative solutions that may save lives and extend human healthspan", said Alex Zhavoroknov, PhD, founder and CEO of Insilico Medicine, Inc.
Blockchain and Artificial Intelligence
Recent advances in AI have surpassed human accuracy in image and voice recognition and are transforming multiple industries, including manufacturing, transportation, finance and entertainment. However, the use of AI in the healthcare industry has been comparatively slower than in other sectors, as deep learning systems need a large number of examples to learn from and can require up to tens of millions of data sets to achieve a high level of accuracy.
Next-generation AI developed by Insilico Medicine can be used to validate, assess and improve the quality of biological samples as well as learn using large volumes of heterogeneous data without human intervention. Multiple new methodologies including the feature importance, deep feature selection and deep pathway analysis among the others can provide the biologically-relevant interpretation of the inner workings of the AI systems.
Blockchain has the potential to track and validate large amounts of healthcare data in a secure and efficient ways opening the door to the necessary solutions to effectively organize data for deep learning systems. The Bitfury and Insilico Medicine partnership will explore the ways Blockchain can be used to accelerate progress in biomedicine and deliver innovative healthcare solutions to people around the world.
Insilico Medicine is developing "next-generation AI" with the focus on deep generative adversarial networks (GANs), Reinforcement Learning (RL) and Meta Learning for drug discovery, biomarker development, cross-species analysis and aging research. It recently published on the applications of GANs to discovery of novel molecules in Oncotarget and Molecular Pharmaceutics. Another paper published in Molecular Pharmaceutics in 2016, demonstrated the proof of concept of the application of deep neural networks for predicting the therapeutic class of the molecule using the transcriptional response data, received the American Chemical Society Editors' Choice Award.
About The Bitfury Group
The Bitfury Group is the leading full service Blockchain technology company and one of the largest private infrastructure providers in the Blockchain ecosystem. The Bitfury Group develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the Blockchain. The expertise of The Bitfury Group ensures successful, easy, fast, secure and cost effective connectivity to the Blockchain. The Bitfury Group is a global team of experts in technology, business, communications, security and civil society. The Bitfury Group believes the Blockchain can and will open new doors for global economic opportunity and prosperity, and its mission is to create and advance Blockchain applications that will further promote innovation and the advancement of the peer-to peer economy. Visit bitfury.com for more information
About Insilico Medicine, Inc
Insilico Medicine, Inc. is the next-generation artificial intelligence company located at the Emerging Technology Centers at the Johns Hopkins University Eastern campus in Baltimore with R&D resources in Belgium, Russia, and the UK, hiring talent through hackathons and competitions. It develops novel AI solutions for drug discovery, biomarker development and aging research. The company pursues internal drug discovery programs in cancer, Parkinson's, Alzheimer's, ALS, metabolic diseases, sarcopenia and senescence. Through its Pharma.AI division, the company provides advanced machine learning services to biotechnology, pharmaceutical, and skin care companies. In 2017, NVIDIA selected Insilico Medicine as one of the Top 5 AI companies in its potential for social impact. Brief company video: https://www.youtube.com/watch?v=l62jlwgL3v8
For more information please contact:
Qingsong Zhu, PhD