InSilicoTrials Wins AI Startup of the Year Award at Startup Grind Global 2024

MILAN, May 31, 2024 /PRNewswire/ -- InSilicoTrials (IST) is honored to have received the AI Startup of the Year award at Startup Grind Global 2024 in Silicon Valley, California. IST won amidst intense competition from 650 startups and was one of only 142 selected to present and demonstrate their innovations. The key factors that led to IST's win were the platform's proven efficiency outcomes (aligned with global regulatory bodies' guidelines), the substantial savings in R&D costs, and the extended market exclusivity period it generates.

On behalf of InSilicoTrials, both CEO Luca Emili and COO Mario Torchia were present at the event. Luca Emili presented IST's transformative solutions, showcasing the platform's impact on healthcare innovation. Mario Torchia engaged with other industry leaders to discuss the broader implications of AI in the healthcare sector today. IST's commitment to regulatory science was highlighted by its contribution to the open-access book - Toward Good Simulation Practice published by Springer Nature. The book features a foreword by the U.S. Food and Drug Administration and is co-edited by CEO Luca Emili.

This recognition, which has also been featured in Forbes- celebrates IST's innovative use of advanced artificial intelligence in healthcare. The Forbes article, titled "A Culture Of Innovation: Inside The Bay Area's Thriving Tech Scene" underlines the dynamic tech environment of the Bay Area. CEO Luca Emili was quoted: "Attending events like Startup Grind in person is crucial for entrepreneurs because it offers unique opportunities for face-to-face networking, direct feedback, and real-time collaboration. These interactions are invaluable as they allow startup founders to share ideas, strategies, and experiences, gaining diverse perspectives from peers who are navigating similar challenges." 

What Startup Grind says about us
James Gee, Global Partnerships Manager at Startup Grind, highlighted InSilicoTrials' win, stating, "We are thrilled to announce that InSilicoTrials has been honored as the AI Startup of the Year at the Startup Grind Global Conference! Emerging victorious from a pool of 29 incredible AI startups and as one of our top 40 Accelerate/Growth startups (out of 142), InSilicoTrials captivated our attention and the interest of numerous investors, becoming one of the most sought-after companies for 1:1 meetings.

"What truly sets them apart is their profound impact on human life. After diving deep into their pitch deck and meeting their impressive team, we were blown away. InSilicoTrials has built a groundbreaking platform that leverages AI models from over 70 scientific partners, integrates models from the FDA, and employs virtual patients to revolutionize drug development, saving up to 40% in time and money. Their mission resonates deeply with us: to accelerate the go-to-market timeline for new drugs by up to four years, providing earlier treatment access to patients and enhancing market exclusivity for commercialization. Their dedication to advanced digital twin technology streamlines drug development, ensuring timely delivery of critical treatments and improving commercial outcomes."

About InSilicoTrials
InSilicoTrials aims to become the leading problem solver in drug development by leveraging computational modeling and simulation (in silico) techniques. Using AI and advanced predictive technologies, we support emerging biotech companies by generating robust digital evidence that enhances funding prospects and clinical outcomes. Our in silico methods reduce R&D time and costs, offering virtual patient and AI-enhanced trial accuracy, cloud-based simulations for comprehensive virtual assessments & regulatory-compliant data to support clinical programs. 

Our commitment has not gone unnoticed: besides the AI Startup of the Year Award by Startup Grind Global 2024, we are also proud recipients of the Innovation Radar Prize 2023 by the European Commission in the AI & Smart Devices category. 

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