Verseon Acquires Edammo
Oct 18, 2022, 08:31 ET
Enhancing The World's Most Advanced Drug Discovery Platform with Small-data AI Technology
FREMONT, Calif., Oct. 18, 2022 /PRNewswire/ -- Verseon International Corporation, the company leading a technology-driven transformation of the pharmaceutical industry, announces that it has acquired Edammo, Inc.
Verseon has spent much of the past two decades pioneering scientific advances in molecular physics, chemistry, biology, and AI to create the world's most advanced drug-discovery platform. This platform now systematically produces entire families of novel drug candidates that cannot be found by any other current method—candidates whose uniquely desirable therapeutic profiles promise to change the standard of care for every disease they address. The company has officially announced seven programs to date for conditions that include heart disease, diabetes, and cancer.
When developing completely novel drugs, the available dataset is often small and sparse. And big-data dependent AI can't solve small-data problems easily. Verseon has continued to develop its own specialized AI tools internally to handle these situations.
The company has also kept an eye on external developments and found that Edammo's Extreme AutoML technology performs particularly well in a variety of life-sciences tasks. Edammo's novel approach to AI is superior to other current technologies for utilizing small datasets, and has a significantly lower error rate than external industry-benchmarks like Google AutoML.
Announcing the acquisition, Verseon Co-Founder and CEO Adityo Prakash commented, "As we continue to expand Verseon's capabilities through both in-house development and strategic acquisitions, Edammo's AI technology will be an excellent addition to our platform."
Edammo's CEO Ed Ratner added, "We are pleased that Verseon determined our Extreme AutoML will enhance the machine-learning components of Verseon's platform. While it's useful in many different settings, applying Edammo's technology to help develop critical new medicines is a highly rewarding opportunity to improve billions of lives around the world."
Verseon International Corporation (www.verseon.com) is redefining delay, prevention, and treatment of disease. Using its unique physics-augmented AI platform, Verseon is rolling out a steady stream of life-changing medicines. Each of the company's drug programs features multiple novel candidates with unique therapeutic properties. None of these candidates can be found by other current methods. Verseon's pipeline currently includes seven drug programs in the areas of anticoagulation, diabetic retinopathy, hereditary angioedema, oncology, and metabolic disorders.
Edammo takes a revolutionary approach to leveraging artificial intelligence to make real-time, data-driven decisions across multiple industries, including medicine and the life sciences. To overcome the shortcomings of other AI systems when applied to modeling based on small, dynamic data sets, Edammo's team developed the Extreme AutoML platform, which is both faster and more precise than Deep Learning and traditional data mining. Results across multiple industries and various scenarios have proven the superior accuracy and speed of Extreme AutoML when compared to leading machine learning industry benchmarks.
SOURCE Verseon International Corporation
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