Background
A mid-sized clinical-stage biopharmaceutical company developing a novel class of medicines for underserved diseases identified an opportunity to move more of its drug discovery in-silico. The client was faced with evaluating how to allocate scarce resources and sought support in determining to what extend they should invest in or supercharge their efforts behind this new opportunity.
The client engaged L.E.K. Consulting for our expertise in both biopharmaceutical and digital markets to craft a comprehensive AI strategy, including immediate actionable AI initiatives.
Approach
L.E.K. conducted an in-depth assessment of potential AI use cases across the biopharma value chain. We prioritized these use cases, developed a list of modules, and created a strategic roadmap encompassing product development, the construction of an integrated platform, and a series of tactical initiatives along the way.
Key recommendations included:
- Investing in product development to catalyze the AI strategy
- Establishing an innovation group and related infrastructure for the platform
- Enhancing the company’s existing discovery platform with additional AI enabled components in a measured fashion
For tactical initiatives, we advised sourcing AI solutions to drive efficiency and augment commercial and enterprise excellence. Streamlining corporate back-office tasks with AI automation and optimizing manufacturing execution were identified as next steps.
Results
With L.E.K.’s help, the client received a succinct deliverable for a readout with its leadership and board members to seek endorsement to invest in its AI strategy and was able to confidently further invest in the in-silico space, widening its reach and increasing its potential for growth in both the short and the long term.
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