Pharmacelera has been awarded an SME Phase I grant from the European Commission for its MolPredict project.
The EU received 2009 requests in the call where Pharmacelera submitted its proposal and it decided to support 257 small and medium-sized companies (SMEs) from 31 countries (a 12.8% acceptance rate) who aim to get their innovations faster to the market.
During the execution of the SME Instrument Phase I project, Pharmacelera has conducted the necessary market research, opportunity checking and technical exploration in order to assess the feasibility of the proposed project. All this work has included conversations with key stakeholders of the proposed technology: key opinion leaders, current customers, potential partners and senior employees from the pharmaceutical industry. The conclusion of the study is that there are big opportunities in the sector for companies owning disruptive technology to overcome the declining ROI of pharmaceutical R+D and machine learning, High-Performance Computing and multi-disciplinary research are observed as key driving pillars to accelerate drug discovery.
The participation of Pharmacelera in this program has also allowed us to have access to a top-notch coach from Europe, who has provided extraordinary support to assess the complementarity of our top management team and align our mid- and long-term vision and strategy.