Bigfinite is a provider of simple artificial intelligence (AI) solutions for the complex needs of both the Pharma and Biotech industries.
It offers a SaaS application for industrial use as part of the Internet of Things (IoT). Just this week it announced it had managed to raise $8.5 million in a funding round led by La Famiglia, Uncork Capital, and Crosslink Capital.
The pharma manufacturing process is very data-intensive and because data is sourced from all over the place it can get very messy. However, with more than 30 years of IT and pharma experience under its belt, Bigfinite is on hand to help improve these processes through the use of AI.
Already the AI firm’s developed more than 10 use cases for its Bigengine SaaS platform as well as launching a new and improved version of Bigengine. It’s called the Bigfinite AI SaaS Platform for Pharma Manufacturing, v 1.5 and includes five new AI solutions including Golden Batch, Predictive OEE, and Energy Efficiency.
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“In the US alone, 70 percent of pharma manufacturing data is never used,” said founder and CEO of Bigfinite, Pep Gubau.
“Our Bigengine platform helps pharma companies discover new ways to optimize processes, reduce manufacturing quality issues, and enhance regulatory compliance, with the potential for a six-month return on investment.”
According to statistics released from the Tufts Center for the Study of Drug Development, to completely develop and gain approval to market a new drug costs over $2.5 billion. “The pharma manufacturing process is complex, lengthy and expensive,” said Omar El-Ayat, Partner at Crosslink Capital.
“The Bigfinite team has the expertise and technology platform to help the pharma industry make changes that could greatly improve the manufacturing process. Before launching Bigfinite, they had already successfully built two pharmaceutical IT companies for statistical control and regulatory compliance, both of which were acquired by global corporations.”
Bigfinite was founded back in 2013 by Pep Gubau. Having worked hard to expand over the past few years the company now has 32 employees on board between its office in San Francisco, California, and the other over in Barcelona, Spain and is expecting to grow further next year.
By the end of Q2 in 2018, the company is aiming to be twice the size that it is now, which is what most of this latest seed round capital secured will cover.
Source BusinessInsider
