Colorcon Ventures Invests in AI-Driven Bio-simulation Company VeriSIM Life

HARLEYSVILLE, Pa., Jan. 13, 2022 /CNW/ -- Colorcon Ventures, the corporate venture fund of Colorcon Inc., has invested in VeriSIM Life, a San Francisco-based startup with a digital bio-simulation platform that accelerates drug development and reduces animal testing.

A vast majority of drugs that are tested in animals fail to pass human clinical trials, resulting in delayed development and high costs. VeriSIM's BIOiSIM platform, driven by artificial intelligence (AI) and machine learning (ML), de-risks R&D decisions by providing meaningful insights much earlier in the drug development process with unprecedented accuracy and scalability. This first-in-class solution significantly improves R&D productivity, one of the biggest pain points for pharmaceutical and biotech companies.

Ali Rajabi-Siahboomi, Vice President and Chief Innovation Officer at Colorcon, said, "VeriSIM aligns with Colorcon Ventures' strategic focus on improving efficiencies in the drug development process. We believe VeriSIM can lower overall pharmaceutical development cost and accelerate time to market."

Jo Varshney, VeriSIM's Founder and CEO, said, "We are pleased to have Colorcon join us as a strategic investor. Access to Colorcon's global R&D relationships and expertise should prove helpful as we scale VeriSIM in the years ahead."

Colorcon Ventures joins a prominent list of investors who also participated in VeriSIM's recently announced Series A, including Morpheus Ventures, Debiopharm Innovation Fund, OCA Ventures, Intel Capital, Serra Ventures and Susa Ventures.

About Colorcon Ventures

Colorcon Ventures targets investments in transformational solutions for the pharmaceutical and nutraceutical industries across R&D, manufacturing, supply chain, and the delivery of pharmaceutical products and services. Colorcon Ventures is the corporate venture fund of Colorcon Inc., a trusted design and development partner to over 4,000 pharmaceutical companies, around the world, providing expertise to fast-track pharmaceutical formulation and manufacturing. For more information, please visit www.colorcon.com/ventures or follow @ColorconVC

About VeriSIM Life

VeriSIM Life has developed a sophisticated computational platform that leverages advanced AI and ML techniques to significantly improve drug discovery and development by greatly reducing the time and money it takes to bring a drug to market. BIOiSIM is a first-in-class 'virtual drug development engine' that offers unprecedented value for the drug development industry by narrowing down the number of drug compounds that offer anticipated value for the treatment or cure of specific illnesses or diseases. The program not only reduces the time and cost of drug discovery and development, it also reduces the need for animal testing that, in the vast majority of cases, does not translate to humans. For more information visit: www.verisimlife.com.

SOURCE Colorcon Ventures