As we approach the end of 2024, First Opinion is publishing a series of essays on the state of AI in medicine and biopharma. This is the first in the series.
A survey of 2024 headlines regarding AI’s use in drug discovery paints a less-than-rosy picture. Recently, Insilico announced Phase 2a results that fell short on statistically significant efficacy on what they claim to be the first-ever end-to-end AI-designed drug. In yet another setback, Recursion, Techbio’s early darling, also announced the results of its first clinical trial, which showed no reportable efficacy in one of the first “AI discovered” drugs to reach the clinic.
Other companies in the space seem to be in crisis mode, and at existential levels. Recursion recently scooped up Exscientia at a fraction of its prior market capitalization after a series of setbacks with partners and management. Brendan Frey of Canada-based Deep Genomics, for example, recently claimed in the Globe and Mail that “AI has really let us all down in the last decade when it comes to drug discovery, we’ve just seen failure after failure.” According to the Globe and Mail, the company, which has raised almost $250 million, has a flailing pipeline and is open to a sale.
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