PALO ALTO, Calif., Oct. 4, 2016 /PRNewswire/ -- NuMedii, Inc. today announced the formation of a discovery collaboration with one of the world's leading pharmaceutical companies to identify new indications for a number of the undisclosed company's compounds/candidates. The companies will use NuMedii's predictive Big Data intelligence technology, which enables the discovery of new uses for both marketed drugs and shelved development assets across a number of therapeutic areas.
"Our third collaboration with a world-class pharmaceutical company in just one year reinforces the value proposition of our Big Data Intelligence technology for companies seeking to better identify new potential drug candidates and develop them into effective, approved and reimbursed medicines more quickly," said Gini Deshpande, Ph.D., chief executive officer, NuMedii, Inc. "We look forward to continuing our growth momentum as we seek other collaborations to help discover new uses for medicines that will ultimately benefit patients in need."
In January, the Company announced a partnership with Astellas to identify a new indications for number of undisclosed compounds, and last September announced a partnership with Allergan for discovery of new treatments for psoriasis.
NuMedii's proprietary and dynamic Big Data intelligence technology consists of hundreds of millions of human, biological, pharmacological and clinical data points that the Company has normalized and annotated. The Company integrates these data with proprietary network-based algorithms to find both drug candidates and biomarkers predictive of efficacy for diseases. NuMedii is initially using its Big Data technology to discover and de-risk new indications for medicines.
Financial terms of the agreement were not disclosed.
About NuMedii, Inc.
NuMedii, Inc., discovers effective new drugs by translating its predictive data intelligence technology into therapies with a higher probability of therapeutic success. The Company's exclusive Big Data technology, originally developed at Stanford University, utilizes large amounts of scientific data together with proprietary biological network-based algorithms to discover drug-disease connections and biomarkers that are predictive of efficacy. NuMedii translates these predictions into novel de-risked drug candidates and partners with pharmaceutical companies for development and commercialization. The company is based in Palo Alto, California. For more information, please visit www.numedii.com.
SOURCE NuMedii, Inc.