SAN FRANCISCO, Nov. 14, 2023 /PRNewswire-PRWeb/ -- VeriSIM Life — the leading AI-enabled, R&D decisions de-risker for drug development today announced its Founder and CEO, Jo Varshney, has been awarded the Gold Stevie® Award in the healthcare category in the 20th annual Stevie Awards for Women in Business.
The Stevie Awards honor the world's top women entrepreneurs, executives, employees, and the organizations they run. This year's Stevie Awards for Women in Business received more than 1,600 nominations by organizations and individuals for consideration across 100 categories.
Varshney was among seven finalists for "Most Innovative Woman of the Year— Healthcare" and was in elite company alongside healthcare leaders like Axis Research & Technologies COO Jill Goodwin, Biohaven SVP for Clinical Operations Kim Gentile, Recursion COO Tina Larson, Elevance Health CTO Geeta Wilson, SUN HOPE President Masami Toda, and Dr. Lisa Langer, Ph.D.
"I am honored to be chosen as the 2023 recipient of the Gold Stevie Award alongside so many influential women in the healthcare field from all over the world," said Varshney. "This award is a testament to each woman who has dedicated their lives to innovation in the healthcare industry."
Originally from India, Varshney moved to the United States in 2010 to study comparative oncology, genomics, and bioinformatics. Through her research, Varshney discovered the difficulties of translating drug candidates from the lab to clinical trials. Varshney built out the concept in a hackathon, won, and founded VeriSIM Life shortly after.
Varshney was nominated for the Healthcare Stevie Award for her leadership in the novel use of artificial intelligence and machine learning techniques to improve the value of drug candidate intellectual property early in the development lifecycle. VeriSIM Life's technology uses AI and ML to derive a drug development "credit score," which radically decreases the risk of errors and failure in the drug research process, improves clinical trials and early patient application success rates, and ultimately decreases time-to-market for novel therapeutics.
"I am proud to be part of a new solution to address the cost and time it takes to bring drugs to market, which has doubled every 10 years, resulting in only 40 new drug approvals annually, while 300 million patients with unmet diseases await new therapies," added Varshney.
Under Varshney's leadership, VeriSIM Life is one of the fastest-growing drug discovery technology companies. In 2022, VeriSIM Life closed a $15M Series A round of financing, which brought in more than $25M in operating capital for the company. The company has since secured a multi-year partnership with Mayo Clinic and is expanding its customer base across the globe.
About VeriSIM Life
VeriSIM Life has developed a sophisticated computational platform that leverages advanced AI and ML techniques to improve drug discovery and development by significantly reducing the time and money it takes to bring a drug to market. BIOiSIM® is a first-in-class 'virtual drug development engine' that offers unprecedented value for the drug development industry by narrowing down the number of drug compounds that offer anticipated value for the treatment or cure of specific illnesses or diseases. The platform predicts the likelihood of a candidate's success in clinical trials early in the preclinical stage, while reducing unnecessary experimentation and better informing key program decisions. For more information, visit www.verisimlife.com.
About the Stevie® Awards
Created in 2002, the Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards®, The International Business Awards®, the Middle East & North Africa Stevie Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 nominations each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
AtlasGEN Novel Drug Designer efficiently identifies new molecules based on favorable chemical properties and simultaneously evaluates them for clinical safety and effectiveness based on biology using VeriSIM Life’s groundbreaking Translational Index™ technology.
Iterative ranking of target engaging hits by their Translational Index values reduces the time and cost associated with other computational hit discovery approaches, while compressing the hit-to-lead refinement and optimization process by pre-validating hits for translatability. This unique integration dramatically reduces the number of compounds to evaluate in subsequent experimental research.
The ability to generate target engaging compound hits depends largely on the size of the molecular search library. The AtlasGEN search space is supported by more than 1 trillion compounds. Generative AI and deep learning techniques deliver unprecedented discovery capability.
AtlasGEN accurately predicts protein-lygand binding affinity by combining geometric conformer analysis with machine learning based on experimental data 72% more efficiently than molecular docking-based approaches.
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