Company: VeriSIM Life, San Francisco, CA
Company Description: VeriSIM Life is an AI-driven, computational platform company focused on solving the translational gap in drug development by providing insights into the likelihood of a candidate's success in clinical trials early in the preclinical stage. The company's 'virtual drug development engine' helps reduce unnecessary experimentation and risk, to bring life-saving therapies to patients faster.
Nomination Category: Company/Organization Awards Categories
Nomination Sub Category: Most Innovative Company of the Year – More Than 10 Employees
 Nomination Title: VeriSIM Life
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the achievements since July 1, 2022 of the nominated organization, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the appropriate spaces below:
- Briefly describe the nominated organization: history and past performance (up to 200 words):
Total 170 words used.
Founded in 2017, VeriSIM Life is addressing the decades-old “translational gap” challenge, which results in new drug candidates failing in clinical trials 95% of the time. This incredibly high failure rate means that billions of dollars in research is wasted, driving up the cost of the drugs that do ultimately get approved for patient treatment. Why does this happen? One major flaw in the existing system is the compartmentalization of teams and data, which exacerbates the complexities of an already intricate process. Such fragmentation obstructs a comprehensive understanding of a drug candidate's feasibility, thereby impeding efficient research and experimentation. VeriSIM Life addresses these issues by directing scientists and researchers where to focus their experimentation and investment, resulting in much faster and less expensive drug development. The company does this with a unique blend of artificial intelligence and biosimulation technology that has helped customers and partners like Mayo Clinic, Debiopharm and Daiichi-Sankyo successfully move investigational drug candidates into clinical trials in a fraction of the time it takes using traditional methods.
- Outline the organization's achievements since July 1 2022 that you wish to bring to the judges' attention (up to 250 words):
Total 241 words used.
Since July 2022 VeriSIM Life has, by the merit of its technology and science, attracted multiple partnerships with drug developers such as Mayo Clinic, University of Florida Scripps and others for a total of 8 assets overall that we are using our technology to develop with highly reputable partners. Our most notable drug asset developed with our BIOiSIM platform, PulmoSIM Therapeutics PT001, is about to be submitted to the FDA as a drug ready for clinical trials. This is a landmark achievement because we were able to take this asset from discovery to the pre-IND stage in less than 3 years, which is almost entirely unheard of in the drug development industry where this would generally take 6 years or longer. In addition to our drug development partnerships we gained a software partnership with the major technology provider Clarivate, who has integrated our platform into their well-known Cortellis Drug Discovery Intelligence application. Additional achievements in the past two years have included providing technology services to over a dozen clients, and introducing a new drug discovery solution, AtlasGEN Novel Drug Designer, to the market. We have also successfully published peer-reviewed research studies in highly respected publications such as The American Association of Pharmaceutical Scientists (AAPS) Journal, the International Journal of Molecular Sciences (IJMS), Drug Discovery Today and more. Additionally, our CEO Dr. Jo Varshney had the distinction of winning gold in the 2023 Stevie® Awards for Women in Business announced in November.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 249 words used.
- Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 249 words used.
Our ability to attract drug development partnerships with well-known pharmaceutical companies speaks to the effectiveness of our platform and science, and is unique because we have accomplished this with a minimal amount of capital compared to our competitors. For instance, one similar company to VeriSIM Life has raised over $665 million, while we have raised only $25 million, but have been able to build a comparable and in some ways superior platform. This is one of the reason drug development partners are impressed enough to want to partner with us. Another way in which VeriSIM Life is unique is in our ability to have developed the PulmoSIM Therapeutics drug asset PT001 in such a short period of time; in less than three years, we were able to take this asset to the precipice of beginning clinical trials, when it usually takes at least 6+ years to reach this point. We were able to achieve this entirely by virtue of the patented technology and science embedded within our BIOiSIM platform. A third way that VeriSIM Life has differentiated itself is by being one of the first solution providers to apply its technology towards treatments for Stimulant Use Disorder (StUD), a disease which currently has no approved direct treatments and impacts an estimated 5 million people in the United States alone. The development of such a drug could have a uniquely monumental impact on society and public health, and we achieved this through the power of our AtlasGEN Novel Drug Designer.
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