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Precision for Medicine Acquires AI Developer SimplicityBio

NEW YORK (GenomeWeb) – Precision for Medicine today said that it has acquired artificial intelligence technology developer SimplicityBio for an undisclosed amount.

The acquisition will allow Precision for Medicine, a Bethesda, Maryland-based unit of Precision Medicine Group, to add AI to its QuartzBio bioinformatics and multiomics data integration platform to assist in biomarker-guided drug development. According to Precision for Medicine, clients now will be able to access complete sets of genomic, transcriptomic, proteomic, and flow cytometry data in real time when making trial decisions.

"Artificial intelligence approaches are only as good as the data we can apply them to," SimplicityBio CEO and Cofounder Matthew Hall said in a statement. "Joining Precision for Medicine and integrating our AI algorithms into QuartzBio is a giant leap forward for our customers and industry, as multiomic data grows in quantity and complexity."

Monthey, Switzerland-based SimplicityBio grew out of the Haute Ecole d'Ingénierie et de Gestion du Canton de Vaud (HEIG-VD). It is a founding member of the Alliance for Artificial Intelligence in Healthcare.

This is Precision for Medicine's second acquisition in the last few months. In October, the company purchased ApoCell, which specializes in the identification and analysis of biomarkers in both tissue and liquid biopsy.