Drug discovery and development process involves a lot of research which involves going through hundreds of long and convoluted documents such as medical journals, patents and clinical trials data. Due to rapid advancements in information technology, this data is increasing day by day, with almost 80% being in unstructured format. This makes the Drug Discovery cycle longer, requiring more resources, ultimately increasing the costs and risks involved.
Algonox’s flagship product Rx Genie is an NLP (Natural Language Processing) based text-mining platform for Pharma-biotech industries to speed up the drug discovery cycle. It is an interactive search interface which extracts the information from variety of text sources like scientific literature, patents, presents them in a structured format and generates actionable insights. Unlike traditional keyword search it performs contextual search using advanced NLP algorithms to extract relevant information, identify relationships, facts and assertions to understand various ways a question can be asked. Rx Genie also features a domain knowledge plug-in for enhancing semantic search capabilities using taxonomies, thesauri and ontologies. In our estimates it makes getting actionable results 10 times faster with better accuracy and cost-effectiveness.