Stans, Switzerland, March 24, 2014 - THERAMetrics Holding AG (SIX: TMX) announces the creation of a new European-wide Consortium for developing the bioinformatic project DRUG&DROP (DRUG Discovery & Development Related to Ontologies and scientific Publications). This first-class international Consortium, involving both experienced and innovative companies with prestigious academic institutions across all Europe, has the perfect mix of skills required to provide advanced solutions to biomedical and clinical research, to pharmaceutical companies and healthcare institutions, especially focusing on drug repositioning and repurposing.
The Consortium applied to Horizon 2020 for a nearly €3m funding. Horizon 2020 is the European Union Framework Programme for financing Research, Development and Innovation; it started on 1 January 2014, will last until 31 December 2020 and will finance €78.6bn to promote scientific excellence, industrial leadership and society welfare.
Based on THERAMetrics DRR2.0, DRUG&DROP aims to address one of the most pressing requests to clinical and biomedical research and to national and international institutions: providing safe, ethic and effective therapies at affordable costs.
Leveraging on the biomathematical model of DRR2.0, the Consortium will develop a highly scalable computational technology, based on Big Data analytics. Through its advanced mathematical algorithms, DRUG&DROP will be able to build a comprehensive representation of relevant biomedical knowledge, as well as to automatically generate workable hypotheses for either finding new drugs or repurposing existing ones to new uses.
Raffaele Petrone, THERAMetrics Holding CEO, commented: "The Consortium is born to enhance and upgrade THERAMetrics’ DRR2.0: by leveraging on cutting-edge technologies, we will develop a breakthrough Big Data interactive bioinformatic platform. We strongly believe we are going to change the way pharmaceutical research is carried out: the envisaged platform has the potential to combine the suggestive impact of the big picture with the enlightening precision of the fine detail. We're also sure to share one-shot all the studies and the results about a pathology, or a medicine and the connections between them."
Beyond THERAMetrics, the other members of the Consortium are:
University College London, UK. Definitely one of the most prestigious universities in the world, its Computer Science Department has strong competence and experience in developing advanced mathematic models and algorithms for bioinformatics.
Coimbra University, Portugal. Founded back in 1290, it's a very well recognized high-standing university. Their role in the consortium is related to the design and evaluation of large-scale IT systems.
SIVECO Romania SA, Bucharest. One of the most important eastern and central Europe software houses and system integrators, they bring to the Consortium their expertise in carrying out complex software projects, together with a strong focus on the e-health domain.
Epsilon S.r.l., Naples, Italy. It is a small Italian ICT firm, whose mission is to design and operate complex Big data and Cloud computing solutions. Its competences and qualities earned them solid partnership with global players like Google and Amazon.
Pierrel Spa, Capua (Ce), Italy. Global provider in pharmaceutical industry and in life science, specialized in contract research, contract manufacturing, and in development, registration and licensing of new drugs; it's listed on MTA market within the Italian stock Exchange – Borsa Italiana S.p.A. Pierrel Group has over 60 year experience in pharmaceutical industry.
About THERAMetrics
THERAMetrics holding AG is a tech-based Contract Research & Development Organisation dedicated to provide a full range of technological solutions through the entire value chain of drug discovery and development. The company, listed at the SIX Swiss Exchange (TMX) and located in Stans (Switzerland).
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THERAMetrics holding AG
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