Elsevier has announced the launch of Entellect, a new cloud-based data platform designed to 'help life sciences companies overcome the challenges of modern R&D by enriching and harmonising proprietary and external data and delivering it in an AI-ready environment'.
The company says that, with nearly a fifth of pharmaceutical spending going to R&D and the average cost of bringing a new drug to market estimated at $4 billion USD, life sciences companies urgently need more efficient ways to analyse data. It says the new platform can save time and costs by 'de-siloing, contextualising and connecting drug, target, and disease data to deliver normalised, discoverable and model-ready information'.
Cameron Ross, managing director for life science solutions at Elsevier, said: 'The life sciences are perhaps the most demanding field in which to undertake data science. The complexity involved is the reason so many companies are looking to AI, and machine and deep learning, to solve their biggest challenges. Too often their efforts are frustrated because of multiple data management barriers, and they’re not yet seeing the insights from AI they expected.
'Entellect provides a sophisticated platform enabling them to get far more value out of their data. We designed Entellect to handle the sorts of data challenges that life sciences companies encounter – from handling huge volumes of existing data stored in individual Electronic Lab Notebooks, to finding the desired piece of information in scientific literature.'