Biopartnering Seminar - How Can A Concept Like AiCure Work In The Marketplace?

Corvidea Tech Photo
Tuesday, November 22, 2016 - 6:30pm

The issue of non-adherence to medication, which occurs when patients do not take medication as prescribed by their healthcare provider, is one that is widespread, costly, and complex. Recent years have seen the emergence of numerous digital adherence solutions, including smart pill bottles, digitized pills, and smartphone apps. One such app, created by a start-up company called AiCure, uses artificial intelligence technology to verify patient ingestion of medication. Although AiCure's technology is innovative, very few digital adherence solutions have achieved sustained commercial success. This presentation explores how AiCure can best succeed in the marketplace. By combining analysis of AiCure’s competitive advantages with market recommendations, our team demonstrates that AiCure will be most profitable by partnering with pharmaceutical companies to improve adherence in clinical trials. To assess the viability of this strategy, the specific therapeutic area of infection with human immunodeficiency virus (HIV) is identified based on AiCure’s strengths, pharmaceutical company pipelines, and projected market growth. We perform financial analysis of projected cost savings to pharmaceutical companies as well as revenue generated by AiCure to demonstrate that implementation of this app is both beneficial to pharmaceutical companies and profitable to AiCure. Non-adherence threatens the success of costly clinical trials, indicating that improving adherence is a pertinent issue for pharmaceutical companies. Our findings have potential as a viable option to reduce costs and improve the quality of data generated in clinical trials.
 

Presenting Team: Corvidea Tech

Team Members: Elena Domazetoska, Ali Farjah, Graham Gauthier, Katelyn Low, Qasim Muhammad, Holly Ramsay


This presentation is closed to the public - open to MBiotech students only.  Please check back next week for upcoming publicly available seminars.