A Toronto startup is betting that it can find life-saving treatments by sifting through big pharma’s trash bin.
Driving the news: Canadian biotech firm Biossil has developed AI algorithms that it says can sort through the millions of drug candidates that have failed in clinical trials, identifying molecules that could be repurposed or tweaked to make new, successful therapies.
The startup, which is backed by OpenAI and billionaire investor Peter Thiel, has already licensed or bought 10 molecules from drug developers, according to the Globe and Mail. Two of its drugs are currently in advanced clinical trials.
Zoom in: One of the therapies that Biossil bought, called Senicapoc, failed as a pain relief drug in clinical trials under Johnson & Johnson, but its algorithms found that Senicapoc showed promise as a therapy for preventing the breakdown of red blood cells (which can cause anemia and other conditions).
Why it matters: Drug R&D can take decades and hundreds of millions of dollars — Biossil estimates its portfolio of 10 molecules cost previous owners over US$1 billion to develop. By repurposing therapies that have already had serious legwork (and cash) put behind them, Biossil says it can bring drugs to market for cheaper, and ultimately charge consumers less for them.
Zoom out: Plenty of hugely successful drugs have been developed accidentally by researchers trying to find a treatment for something completely different. Some of these happy accidents include Rogaine (blood pressure medicine turned hair loss treatment), Botox (which was originally meant for eye-muscle disorders), and Aspirin, which was repurposed as a blood thinner over 50 years after it was first introduced as a painkiller.—LA
