Week of May 20, 2024

Each week we highlight five things affecting the life sciences industry. Here’s the latest.

  • Microsoft is collaborating with researchers from the University of Washington as well as Providence health network to develop a new artificial intelligence model for digital pathology, reports Fierce Pharma. The goal of the project is to enhance the accuracy and efficiency of diagnosing diseases from tissue samples.
  • To date, the project has resulted in the creation of Whole Slide AI, a deep learning model capable of analyzing entire tissue slides at once, potentially revolutionizing the field of pathology by providing faster and more accurate diagnoses.
  • Per MedTech Dive, the Food and Drug Administration is evaluating AI algorithms designed to predict freezing of gait episodes in patients with Parkinson’s disease, a symptom that significantly impacts mobility and quality of life.
  • These technologies use data from wearable sensors to anticipate freezing episodes, potentially offering patients with Parkinson’s disease greater independence and reducing the risk of falls.
  • According to Fierce Pharma, budget limitations are the primary obstacle hindering digital transformation in the pharmaceutical industry, based on interviews with 100 pharma executives.
  • A significant portion of senior leaders (36%) cited insufficient internal funding as the major barrier to digital adoption, with only 3% planning substantial increases in digital budgets. Moreover, there is a disconnect between digital-focused teams and upper management regarding the alignment of digital metrics with strategic initiatives, often focusing excessively on short-term gains and setting goals too late in the process, which affects the success of digital projects.
  • The FDA is reviewing a blood test designed to detect colon cancer. If approved this would be the least invasive screening option available.
  • The test detects tumor DNA in blood samples and has shown promising sensitivity and specificity rates in detecting colorectal cancer. This testing method could provide an additional convenient screening option, potentially increasing screening rates among those hesitant to undergo traditional methods.
  • The FDA published guidance this week promoting innovative clinical trial design and diversity in participant representation to improve data quality, enhance patient experiences, and accelerate the development of safe and effective medical products. These efforts will be supported by initiatives such as the Center for Clinical Trials Innovation and collaborations with international organizations.
  • The FDA continues to champion the use of innovation and new technology in trial design and operations.

For more insights in life sciences, check out RSM’s industry outlook.

Source link: https://realeconomy.rsmus.com/5-things-to-know-in-life-sciences-week-of-may-20-2024/ by Amanda Laskey at realeconomy.rsmus.com