Syntekabio, a KOSDAQ-listed artificial intelligence (AI) based drug development company, has unveiled a 'Develop Now, Pay Later' program that could significantly alter the drug discovery and development process. This initiative aims to lower the barriers to entry for pharmaceutical and biotechnology companies by eliminating upfront costs for testing target proteins' validity, thereby reducing financial risk and enhancing the likelihood of success in developing novel therapies.
The program utilizes Syntekabio's STB LaunchPad, powered by the DeepMatcher® technology platform, to identify hits, optimize leads, and develop IND-enabled candidates. Dr. Jongsun Jung, CEO of Syntekabio, expressed confidence in the company's AI-driven approach, emphasizing its potential to accelerate the creation of safer and more effective treatments.
By offering a complimentary feasibility study and deferring payment until validated results are achieved, Syntekabio's model addresses the pharmaceutical industry's high failure rates and substantial development costs. The company's AI Bio-Supercom Center, with access to over 10 billion compounds and 1,400 drug targets, supports this ambitious endeavor.
The implications of this program extend beyond the pharmaceutical industry, promising faster access to new treatments for patients and potentially improving healthcare outcomes. Syntekabio's approach could also optimize R&D spending across the sector, encouraging more companies to pursue innovative therapies.
As AI continues to transform healthcare, Syntekabio's STB LaunchPad and 'Develop Now, Pay Later' program represent a significant step forward in drug discovery, setting a new standard for how therapies are developed and brought to market.
