Description
Problem
Pharmaceutical R&D and Drug Discovery are time and capital intensive, with high failure rates. It typically takes 12-15 years and $1.5-2 billion to bring a drug to market. Pre-clinical development alone can take 3-6 years and $300-600 million for a single drug program. The industry faces high failure rates, with up to 80-90% in clinical trials. One key challenge is the need for numerous experimental iterations to advance candidates. This scenario calls for disruption through advanced computational technology.
Solution
Medvolt is at the intersection of Life Sciences and AI that is building a modular and flexible platform to accelerate biomedical research. They do this by using state-of-the-art AI technology which can organise data, generate knowledge and derive insights from the huge data deluge in the Life Sciences sector and help biopharma and biotech companies speed up their efforts for downstream applications encompassing knowledge discovery, drug discovery, pharmacogenomics, drug repurposing etc. as well as drive innovations in therapeutics and diagnostics. Medvolt AI enables early-stage drug discovery at much lesser cost and significantly faster
Market Opportunity
Global AI in Life Sciences & Pharma R&D market size –
- $8 Bn – Global AI in life sciences market in 2020
- $102 Bn – Global AI in life sciences market by 2026
The Serviceable Obtainable Market is $2 Billion whereas the Serviceable Addressable Market is $200 Million.
About the Founders
Madhura Vipra, PhD Cancer Biology – Co-Founder
- Three decades of experience in biomedical research, data analytics, molecular diagnostics, omics technology, image analysis, bioinformatics, IPR expert and software product development. Commercialised 10+ assets to Fortune 500 firms
Ritvik Vipra, IIT Roorkee – Co-Founder
- 5+ years of experience in software engineering and development in core machine learning, deep learning and data-driven enterprise products using state-of-the-art NLP and AI
Details of the round
They are raising INR 8 Cr through the issuance of Compulsorily Convertible Preference Shares (CCPS) at a valuation of INR 55 Cr.
The investment in Medvolt.AI is open through our SEBI-registered AIF Category 1 VCF Angel Fund, Lead Angels Fund and also direct cap table entry (minimum ticket size INR 10 Lakhs). In case commitments exceed the allocated amount, allotment will be on a “First Come, First Serve” basis.
