Demystify the language of innovation intelligence.
Machine learning, data mining, and statistical analysis can be used to deliver advanced analytics. These make it possible to extract insights and make predictions from complex data. With advanced analytics, businesses can discover hidden patterns and relationships in their data and make more sound decisions as a result.
Artificial Intelligence (AI)
This is a broad field that involves creating machines or systems that can perform tasks in a way that usually calls for human intelligence. AI applications can be used for problem-solving, decision-making, and learning. Examples of AI techniques include rule-based systems, expert systems, Natural Language Processing (NLP) and Machine Learning (ML).
Big Data refers to extremely large sets of data that are too complex to be analyzed using traditional methods. Big Data can be structured, semi-structured or unstructured and often comes from multiple sources. It requires specialized tools and techniques to process and analyze, such as distributed computing and machine learning.
Biologics are medical products made from living organisms or their products. They include products such as vaccines, gene therapies, and monoclonal antibodies.
Biomarkers are characteristics that can be measured and used as indicators of normal biological processes, pathogenic processes, or pharmacologic responses to a therapeutic intervention. Biomarkers play an important role in clinical trials by providing a way to measure the efficacy of a drug or treatment being tested. They can be used to track the progression of a disease, monitor the response to a treatment, and predict the outcome of a trial. Biomarkers can be either physiological, such as changes in blood pressure or heart rate, or molecular, such as changes in gene expression or protein levels.
Biotechnology is the application of technology to the study of living organisms, cells and biological systems. It involves the manipulation of biological systems to create new products and therapies.
A collaboration between a biotech or pharmaceutical company and a larger company, in which the biotech company is responsible for developing a product or technology, while the other company provides funding and resources. In exchange, the larger company has the option to purchase or license the product or technology once developed.
In this partnership, the biotech company, known as the “builder”, focuses on the R&D and clinical development of the product, while the “buyer” company provides expertise in regulatory affairs, sales, and marketing. This allows the biotech company to bring the product to market more quickly and efficiently, while the buyer company can secure exclusive rights to the product or technology under its own brand.
Smaller biotech companies can leverage these partnerships to bring their products to market, while the bigger companies can secure exclusive rights to new products and technologies to expand their portfolio.
Claim scope refers to the scope of protection provided by a patent. It defines the boundaries of the protected invention, and is determined by the language of the claims in the patent. The claim scope determines what others are allowed to do without infringing the patent.
Once a drug or treatment clears the preclinical testing phase, it can proceed to clinical development. This stage is tightly regulated, because it involves human testing. A drug must go through multiple phases of clinical trials to test its safety and efficacy.
Clinical Trial Registry
A publicly available database that contains information about ongoing and completed clinical trials. It allows researchers, patients, and the public to search for and find information about clinical trials for a specific disease or condition.
Clinical Trial Protocol
A clinical trial protocol is a document that outlines the plan for a clinical trial, including its objectives, design, population, interventions, outcome measures, and procedures for monitoring and reporting results. The protocol serves as a guide for the conduct of the trial and is used to ensure that the trial is conducted consistently and in compliance with regulations. It is reviewed and approved by institutional review boards or ethics committees before the trial begins.
AI-powered clinical trials intelligence can speed up and enhance the process of creating trial protocols, reducing manual search time and refining trial design to ensure success. Similari surveys tens of thousands of trials to surface key strategic insights.
This is a type of business intelligence that uses cloud computing to deliver BI capabilities and data to users over the internet. This allows users to access their data and analytics from anywhere and at any time, eliminating the need for on-premises hardware to store data.
Before data can be useful, it needs to be mined for insights. Data mining is the process of extracting useful information from large data sets. This is done through algorithms and statistical techniques that identify patterns, trends, and relationships in data. Data mining can be used for a variety of purposes, such as market research, fraud detection, and customer relationship management.
Data visualization is the process of representing data in a graphical format, such as charts, graphs, and maps. It allows users to quickly understand and interpret large amounts of information. Data visualization is essential to hypothesis testing and decision making.
Deep learning (DL)
This is a subset of ML that relies on neural networks with multiple layers. The goal of DL is to make systems capable of identifying patterns and making predictions. DP is used for image recognition, speech recognition and natural language processing.
Digital Health Startup
A digital health startup is a company that uses technology, such as software and telecommunication tools, to improve healthcare delivery and patient outcomes. These startups can be focused on various aspects of healthcare such as remote monitoring, electronic medical records, telemedicine, mHealth (mobile health), and health data analysis.
The drug development process involves several stages, including drug discovery, preclinical development, clinical development, and regulatory approval. It can take several years and requires the coordination of many different teams, including scientists, doctors, and regulatory agencies.
Drug discovery is the process of identifying and developing new drugs to treat disease. The process begins with the discovery of a target, and the development of a drug. The interaction between the target molecule and the drug is then evaluated and tested, before the candidate drug can proceed through preclinical and clinical development.
FDA approval process
This is a series of steps that a drug must go through before it can be marketed and sold to the public in the United States. It includes preclinical testing, clinical trials, and regulatory review.
Innovation refers to the process of creating new ideas, products, or technologies. To innovate, companies apply creative solutions to problems to develop new products, services, or business models. Innovation can also involve the improvement of existing products, services, or technologies.
Innovation intelligence involves gathering and analyzing data to identify new opportunities and white spaces. Companies invest in innovation intelligence to stay ahead of their competitors by identifying new trends and technologies, understanding customer needs and preferences, and pinpointing the most viable opportunities for innovation.
When different business intelligence data sources are combined and analyzed together, this is known as integrated BI. By integrating data sources, decision makers can get a more comprehensive view of their business.
Intellectual Property (IP)
Intellectual property refers to the legal rights that protect intangible creations of human intellect. These include inventions, literary and artistic works, symbols, names, images, and designs. The most common forms of IP include patents, trademarks, and copyrights.
In the life sciences industry, licensing agreements often involve the transfer of rights to a particular drug or technology, such as a patented drug compound or a proprietary manufacturing process. The licensor company may be a biotech or pharmaceutical company that has developed the product or technology, while the licensee company may be a larger pharmaceutical company that has the resources and expertise to bring the product to market.
There are different types of licenses, such as exclusive licenses, in which the licensee is the only company that has the rights to use the product or technology, and non-exclusive licenses, which allows multiple companies to use the product or technology.
Machine learning (ML)
A subset of AI that uses algorithms and statistical models to enable systems to improve their performance with experience. Machine Learning trains machines to make predictions or take decisions based on data, without being explicitly programmed.
Natural Language Processing (NLP)
NLP is a branch of AI that deals with the interaction between computer systems and human language. NLP is used to enhance language translation, recognize speech, summarize texts, and analyze sentiment.
If an invention would be obvious to anyone with ordinary skill in the relevant field, then it does not fulfill the requirement of non-obviousness. If an invention is not novel or would be obvious to someone with ordinary skill in the field, it is not eligible for a patent.
If an invention is novel, it is new and has not been previously disclosed or made available to the public. For any invention to be patented, it must be novel and not obvious to someone with ordinary skill in the field.
To be patentable, an invention must be eligible for a patent. To satisfy that requirement, it must be novel, non-obvious and useful. It must also fall into one of the categories of inventions that are eligible for a patent, such as a process, machine, manufacture, or composition of matter.
A collection of patents and patent applications owned or controlled by an individual or organization. A portfolio can include patents and applications in a variety of technology areas and can be used to protect and monetize inventions. Companies often use a patent portfolio to protect their innovations and gain a competitive advantage in the market.
Patent search is the process of searching for existing patents and patent applications to determine the novelty and non-obviousness of an invention. Patent search can be conducted to identify potential patent infringement, to assess the potential for licensing a technology, or to identify potential partners for a joint venture.
As the volume of patent applications continues to mushroom, patent searches that rely on manual or reactive methods cannot deliver the timeous, accurate insights that IP professionals need to navigate around patentability issues. Similari surveys over 150 million patents, automatically generating critical business insights.
A patent landscape is a visual representation of a particular field of technology, showing the number of patents and patent applications, the types of claims, the assignees, and other information. Patent landscapes can be used to identify trends, competitive activity, and opportunities in a particular field.
This is a visual representation of a patent portfolio, showing the technology areas covered by the portfolio, the types of claims, the assignees, and other information. Patent maps can be used to identify gaps in a portfolio, to identify potential licensing opportunities, or to identify opportunities for partnerships.
A patent thicket refers to a situation where many patents or patent applications cover a particular field of technology, making it difficult for new companies to enter the market or for existing companies to innovate without fear of infringement.
Phase I Trials
This is the first step in testing a new drug or treatment in humans. Phase I trials involve a small number of healthy volunteers and are used to determine the safety and investigate the pharmacology of the drug.
Phase II trials
These trials involve a larger number of patients with the disease or condition the drug is intended to treat. The goal is to determine the drug’s efficacy and identify potential side effects.
Phase III Trials
These involve even larger groups of patients than Phase II trials. They help to confirm the drug’s efficacy, monitor side effects, and compare the drug to treatments that already exist on the market.
Phase IV Trials
After a drug has been approved and marketed, they are subjected to Phase IV Trials. The goal of these trials is to gather additional information about the drug’s safety, efficacy, and optimal use.
The stage of drug development that takes place before human testing. It includes laboratory and animal testing of a drug candidate to determine its safety, efficacy, and pharmacokinetics.
Any information that has been publicly disclosed or made available before a patent application is filed is known as prior art. This can include published patents, publications, and other forms of public disclosure. Prior art is used to determine if an invention is novel and non-obvious.
This is a type of business intelligence that provides up-to-the-minute data and analytics to users. This allows businesses to make decisions based on the most current data, and to quickly respond to changing conditions.
A redundant clinical trial is a study that is conducted when the results of previous trials on the same topic are already available and the new study is unlikely to provide any new or significant information. These trials may be deemed unnecessary or a waste of resources because they do not add to the existing body of knowledge. Redundant clinical trials may also be referred to as “duplicative” or “unnecessary” trials.
AI-powered intelligence solutions like Similari help to reduce the risk of engaging in redundant trials.
Research and Development (R&D)
R&D professionals specialize in conceptualizing new ideas, products, or technologies. The goal of R&D is to create new solutions, test them, and get them to market. The research and development process can be greatly enhanced through the adoption of AI-powered market intelligence. This enables R&D professionals to stay abreast of relevant market trends and opportunities, and channel resources towards the most viable projects.
Semantic search uses natural language processing and knowledge graphs to understand the meaning of search queries and return relevant results. It allows users to perform natural language queries and get more accurate and relevant results.
These are strategic alliances between two or more companies, organizations, or individuals, in which they collaborate to achieve a shared goal or objective, typically related to technology. Tech partnerships can take many forms, such as joint ventures, licensing agreements, and collaborations to develop new products or services.
Tech partnerships can bring together companies with complementary skills, resources, and expertise to create new products, services, or technologies that would be difficult or impossible for either party to develop alone. They can also help companies to enter new markets, access new customers, or reduce costs.
The process of extracting relevant information from unstructured text data is known as text mining. This relies on AI techniques such as NLP and ML. Text mining is useful for a wide range of applications such as sentiment analysis, topic modeling, and named entity recognition. Text mining enables organizations to glean insights from large amounts of unstructured data.
These are areas where there is an opportunity to create new products, services, or technologies that can fill a gap in the market. Finding white spaces is a priority for R&D and innovation, because they may offer a chance to gain a competitive advantage or create new revenue streams.