Nostrum AI crossed $20 million ARR last month and continues its profit mark
The organization has focused squarely on delivering quality software-building service and clean code for flourishing business results. The company currently works with more than 15 life sciences companies. In a desirable move promoting inclusivity, more than half of the scientists working at Nostrum are women. Statistically speaking, sixty-four out of seventy-nine scientists are women.
As a part of further plans, Nostrum aims to enter the supply chain and commercialization segments as the next growth phase, which is why the company plans to invest over 300 million USD in the coming five years.
Nostrum AI Wins "Best AI-based Solution for Drug discovery & manufacturing" Forbes Award in 2022
SAN FRANCISCO, December, 2022 – NostrumAI, an Artificial Intelligence (AI) SaaS provider that transforms pharmaceutical drug discovery & manufacturing operations, today announced that it has been named “Best AI-based Solution for Drug discovery & manufacturing” in the fifth annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global Artificial Intelligence (AI) market today.
NostrumAI’s platform leverages Industry 4.0 technologies including AI and machine learning (ML) to improve drug discovery & manufacturing operations for the biopharmaceutical industry. By implementing AI, manufacturers can more deeply understand their operations and predict issues before they occur.
Anticipating the performance of a process before it has ended can enable pharmaceutical companies to significantly improve yield output and drastically reduce drug discovery & manufacturing costs for any given process. The solution also allows for a reduction in manual operations from days or weeks to minutes or hours. Importantly, NostrumAI’s solution can minimize batch rejection through automated deviation prediction. Manufacturers can continuously control for any potential multivariate outliers and their causes, even when inside the specification limits.
"At NostrumAI, we are committed to delivering compliant automation and solutions to improve yield and quality to highly regulated industries through the development of Pharma 4.0 based products that leverage AI" said Srikumar, CEO of NostrumAI. "Transforming drug discovery & manufacturing operations with the use of advanced analytics and AI, optimizes production and quality. Leveraging a wider variety of data and applying real-time predictive intelligence is a fundamental shift away from the way drugs have been manufactured for many years. This type of automation is enabling major performance improvement for all sizes of manufacturers and there is no technical barrier to applying data intelligence and predictability throughout the whole process to not only save time and money - but also to save more lives and improve the health of millions around the globe." The mission of the AI Breakthrough Awards is to honour excellence and recognize the innovation, hard work and success in a range of AI and machine learning related categories. This year’s program attracted more than 2,950 nominations from over 18 different countries throughout the world.