Insmed and Google Cloud Collaborate to Transform the Lives of Patients by Harnessing the Power of AI

Rhea-AI Summary

Insmed Incorporated collaborates with Google Cloud to leverage generative AI for drug discovery and development in the life sciences industry. The partnership aims to reduce time and increase efficiency in delivering new medicines to patients with serious and rare conditions.

Positive

• Insmed's collaboration with Google Cloud has the potential to revolutionize the drug development process by reducing timelines and enhancing drug delivery to appropriate patients. The use of generative AI technology could significantly improve efficiency and accuracy in data delivery, benefiting the life sciences industry. Multiple projects have already been identified for completion within the next 18 months, with more to follow.

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• None.

BRIDGEWATER, N.J., Oct. 24, 2023 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM), a global biopharmaceutical company, today announced a collaboration with Google Cloud to transform the drug discovery, development, and commercialization landscape of the life sciences industry through the use of generative AI. This alliance will harness the power of Google Cloud's cutting-edge AI technology and Insmed's expertise in serious and rare diseases with a clear goal of reducing the time and increasing the efficiency of developing and delivering new medicines to appropriate patients.

The collaboration focuses on four key aspects of the life sciences industry—drug discovery, drug development, drug commercialization, and enabling functions—and has already identified one to three projects under each area for completion within the next 18 months, with multiple additional programs to follow.

"At the heart of this partnership is our shared vision to leverage the immense potential of generative AI to reduce the time and cost associated with bringing life-changing therapies to patients with serious and rare conditions," said Shweta Maniar, global director of Life Science Strategy & Solutions, Google Cloud. "Insmed has a clear focus on improving patient outcomes, and we look forward to the potential impact these efforts may have on patients and on the life sciences industry at large."

Insmed has built a generative AI search capability using Vertex AI Search trained on its internal documentation, as well as separate functionality that enables indexed access to available, external medical publications.

"This collaboration represents a multi-year commitment to bring about real change to the drug development process," said Will Lewis, chair and chief executive officer of Insmed. "Reducing the timeline for drug development and enhancing the delivery of drugs to appropriate patients would represent a major breakthrough for the application of AI in the life sciences ecosystem. Google Cloud is the clear partner of choice in this effort and we are thrilled to work together to pursue a future where groundbreaking therapies are developed with unprecedented speed and precision."

"Insmed is using Google Cloud infrastructure and AI technology to power this transformation leveraging already available AI modules," said Mark Pellegrino, chief information officer of Insmed. "The potential to extend this kind of technology to areas like drafting a clinical study report, which is incredibly labor-intensive, has profound implications for improving the efficiency and accuracy of how our industry delivers data. From the day we began to explore possibilities, Google Cloud has been in lockstep with Insmed's ambition to transform the life sciences ecosystem."

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is a first-in-disease therapy approved in the United States, Europe, and Japan to treat a chronic, debilitating lung disease. The Company is progressing a robust pipeline of investigational therapies targeting areas of serious unmet need, including neutrophil-mediated inflammatory diseases and rare pulmonary disorders. Insmed is also advancing an early-stage research engine encompassing a wide range of technologies and modalities, including artificial intelligence-driven protein engineering, gene therapy, and protein manufacturing. Insmed is headquartered in Bridgewater, New Jersey, with additional offices and research locations throughout the United States, Europe, and Japan. Visit www.insmed.com to learn more.

Forward-looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. "Forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, are statements that are not historical facts and involve a number of risks and uncertainties. Words herein such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes," "estimates," "projects," "predicts," "intends," "potential," "continues," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) may identify forward-looking statements.

The forward-looking statements in this press release are based upon the Company's current expectations and beliefs, and involve known and unknown risks, uncertainties and other factors, which may cause the Company's actual results, performance and achievements and the timing of certain events to differ materially from the results, performance, achievements or timings discussed, projected, anticipated or indicated in any forward-looking statements. Such risks, uncertainties and other factors include, among others, the Company's ability to utilize AI to impact the costs and timelines associated with drug discovery, development and commercialization.

The Company may not actually achieve the results, plans, intentions or expectations indicated by the Company's forward-looking statements because, by their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. For additional information about the risks and uncertainties that may affect the Company's business, please see the factors discussed in Item 1A, "Risk Factors," in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 and any subsequent Company filings with the Securities and Exchange Commission (SEC).

The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date of this press release. The Company disclaims any obligation, except as specifically required by law and the rules of the SEC, to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Contact:

Investors:

Bryan Dunn
Executive Director, Investor Relations
Insmed
(646) 812-4030
bryan.dunn@insmed.com 

Eleanor Barisser
Associate Director, Investor Relations
Insmed
(718) 594-5332
eleanor.barisser@insmed.com 

Media:

Mandy Fahey
Executive Director, Corporate Communications
Insmed
(732) 718-3621
amanda.fahey@insmed.com

 

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SOURCE Insmed Incorporated

FAQ

What is the collaboration between Insmed Incorporated and Google Cloud about?

The collaboration aims to leverage generative AI technology to transform the drug discovery and development process in the life sciences industry.

What are the key aspects of the life sciences industry that the collaboration focuses on?

The collaboration focuses on drug discovery, drug development, drug commercialization, and enabling functions.

What is the goal of the collaboration?

The goal is to reduce the time and increase the efficiency of developing and delivering new medicines to patients with serious and rare conditions.

What potential impact can this collaboration have on patients and the life sciences industry?

The collaboration has the potential to revolutionize the drug development process, improve patient outcomes, and benefit the life sciences industry as a whole.

What has Insmed built using generative AI technology?

Insmed has built a generative AI search capability and functionality for indexed access to available external medical publications.

What are the expected outcomes of the collaboration?

The collaboration aims to reduce timelines for drug development, enhance drug delivery to appropriate patients, and improve the efficiency and accuracy of data delivery in the life sciences industry.