IPA’s Subsidiary, BioStrand, Announces Advanced Large Language Model (LLM) for Electronic Health Records (EHR)

Rhea-AI Summary

IPA's subsidiary, BioStrand, announced the application of their Foundation AI Model, LENSai, leveraging advanced Large Language Models (LLM) to analyze Electronic Health Records (EHR). This integration enhances the use of real-world data in drug discovery and precision medicine development. EHRs, now a critical commodity, are being optimized by BioStrand to offer superior insights and drive innovation. The model's effectiveness will be demonstrated by Head of Technology Dirk Van Hyfte at the InterSystems Global Summit 2024.

Positive

• BioStrand's LENSai model significantly enhances EHR data analysis and integration.
• The application of LENSai to EHRs enables better utilization of real-world data in drug discovery.
• BioStrand's advanced tools have shown the capability to generate novel antibodies for challenging diseases.
• The integration enhances BioStrand's market reach and operational scalability.
• BioStrand’s innovations position it as a frontrunner in the biopharmaceutical industry.
• A live demonstration at the InterSystems Global Summit 2024 will showcase the model’s capabilities.

Negative

• No specific financial data or revenue projections provided, which may raise investor concerns about immediate profitability.
• The press release lacks concrete examples of successful case studies or outcomes from the LENSai model.
• No details on the competitive landscape or how BioStrand's solution uniquely outperforms others in the market.

Insights

Tech Expert

The introduction of BioStrand's advanced Large Language Model (LLM) for extracting data from Electronic Health Records (EHR) signifies a notable technological advancement in healthcare data management. This innovation leverages BioStrand's patented LENSai Foundation AI model, strategically enhancing its capabilities in drug discovery and precision medicine. The ability to effectively process massive volumes of EHR data addresses a key challenge in the industry: integration of diverse datasets.

Large Language Models, such as those developed by BioStrand, are designed to understand and generate human language in a way that is both comprehensive and nuanced. This means they can analyze and interpret complex medical data more accurately than traditional systems. The application of these models to EHRs can streamline the data analysis process, leading to faster and more precise identification of potential therapeutic targets.

One significant advantage here is the potential reduction in time and resources needed to bring new drugs to market. By improving the efficiency of data integration and analysis, BioStrand's technology could accelerate the overall process of drug discovery and development. Furthermore, the use of real-world data from EHRs enhances the relevance and applicability of research findings, leading to more personalized and effective therapies.

This development positions BioStrand as a competitive player in the biopharmaceutical industry, particularly as tech giants like Amazon and Microsoft continue to invest in health technology. The strategic use of advanced AI models to harness the power of EHR data could give BioStrand a significant edge in the market.

However, it is important to consider potential hurdles as well. Integrating and maintaining such a sophisticated system requires substantial investment in both technology and talent. Additionally, issues related to data privacy and security will be critical, given the sensitive nature of EHR data.

Overall, the implications of this technological advancement for BioStrand and its stakeholders are largely positive, with the potential for significant long-term benefits in the biopharmaceutical sector.

Financial Analyst

From a financial perspective, BioStrand's deployment of its advanced Large Language Model (LLM) to utilize Electronic Health Records (EHR) can have substantial economic implications. The enhanced ability to analyze real-world data and evidence significantly strengthens BioStrand's value proposition in drug discovery and precision medicine. This is likely to attract more partners and customers, which could result in increased revenue streams and market share.

The pharmaceutical industry is moving towards more data-driven approaches and BioStrand's innovative use of EHR data positions it well within this evolving market. By addressing the inefficiencies of traditional omics processing platforms and providing superior analytical tools, BioStrand can command a premium for its services. Investors should note the potential for substantial returns if BioStrand can effectively scale its operations and enter new markets.

In terms of financial metrics, this innovation could lead to higher gross margins due to increased demand and pricing power. Additionally, the operational efficiency gained from LENSai's capabilities may result in reduced costs associated with drug development. These factors combined could enhance BioStrand's profitability and overall financial health.

However, it is also important to consider the costs associated with implementing and maintaining such advanced technology. Initial investments might be high and there could be ongoing costs related to data security and regulatory compliance. These factors could impact short-term profitability but are likely to be outweighed by long-term gains.

In summary, the financial outlook for BioStrand appears promising due to the strategic advantages provided by its advanced LLM and integration of EHR data.

Market Research Analyst

The healthcare and biopharmaceutical markets are increasingly competitive, with numerous companies vying to leverage data for better therapeutic outcomes. BioStrand's advanced Large Language Model (LLM) applied to Electronic Health Records (EHR) sets it apart by offering improved data integration and analytical capabilities.

Market trends indicate a growing demand for precision medicine, which relies heavily on the effective use of real-world data. The ability to harness EHR data not only enhances the accuracy of drug discovery but also aligns with the broader industry shift towards patient-centric care. This positions BioStrand favorably within the market and could lead to expanded market share and influence.

Furthermore, the strategic partnership with InterSystems and the utilization of their IRIS platform underscore BioStrand's commitment to leveraging high-quality technology solutions. This collaboration can enhance BioStrand's credibility and appeal to potential customers and partners who value robust and reliable data solutions.

The planned demonstration at the InterSystems Global Summit 2024 also provides an opportunity for BioStrand to showcase its innovation to key industry stakeholders. Such visibility could attract new business opportunities and partnerships, further solidifying its market position.

However, it is important to keep an eye on the competitive landscape. Major tech companies like Amazon, Microsoft and Alphabet are also investing heavily in healthcare technologies. BioStrand will need to continually innovate and demonstrate the tangible benefits of its solutions to remain competitive.

Overall, BioStrand's strategic use of advanced AI models and EHR data positions it well in the market, with significant potential for growth and market expansion.

Dirk Van Hyfte MD, PhD, Head of Technology, IPA, to present live demonstration at the InterSystems Global Summit 2024 June 9-12, 2024 - National Harbor, Maryland

VICTORIA, British Columbia--(BUSINESS WIRE)-- IPA (IMMUNOPRECISE ANTIBODIES LTD.) (the “Company” or “IPA”) (NASDAQ: IPA), an artificial intelligence-driven biotherapeutic research and technology company, today announced that its Belgian subsidiary, BioStrand, is leveraging their patented Foundation AI Model, LENS^ai, by applying advanced Large Language Models (LLM) to capture real world data from Electronic Health Records (EHR). LENS^ai significantly enhances the analysis and integration of EHR data, enabling the integrated use of real-world data and evidence in drug discovery and the development of precision medicines.

“IPA’s partners and customers are experiencing impactful results from the LENS^ai next generation, HYFT® enabled in silico tools, as they strive to analyze and utilize increasing volumes of rich biological data. These valued partners and customers, as well as potential new users, often encounter challenges with existing omics processing platforms, which struggle to connect diverse datasets. Using LENS^ai, IPA has recently demonstrated the ability to generate novel in silico antibodies to challenging diseases where traditional technologies have failed. The ability to efficiently and effectively utilize EHR further strengthens our value proposition”, stated Dr. Jennifer Bath, President and CEO of IPA.

"IPA's BioStrand group continues to innovate. This model has the potential of dramatically simplifying the connection between real-world evidence and therapeutic discovery and development." said Jeff Fried, Director of Platform Strategy & Innovation at InterSystems. "We're proud that they are using InterSystems IRIS; with over 40 years’ experience in EHR integration, the InterSystems IRIS platform is uniquely suited to support BioStrand's breakthroughs."

Positioning EHR as a High-Value Commodity

As tech giants like Amazon, Microsoft, Apple, and Alphabet invest heavily in health and wellness, EHRs have become a critical commodity. By integrating EHRs, BioStrand enhances its ability to analyze and utilize vast amounts of health data. This capability enables BioStrand to deliver superior insights and drive innovation in the rapidly evolving healthcare market.

BioStrand's business opportunity is centered around leveraging its Foundation AI model to drive innovation in drug discovery and precision medicine. The integration of this functionality further strengthens BioStrand's ability to scale its operations and expand its market reach, positioning the company as a frontrunner in the biopharmaceutical industry.

"The integration of clinical patient data encapsulated in EHR systems within our Foundation AI model represents a major step forward," stated Dirk Van Hyfte MD, PhD, Head of Technology, IPA (Co-Founder and Head of Innovation, BioStrand). "This pre-commercial model allows us to leverage extensive patient data, making more informed decisions and accelerating the development of personalized therapies."

By invitation, Dr. Dirk Van Hyfte will provide a live demonstration to industry leaders and developers at the upcoming InterSystems Global Summit 2024, June 9-12, 2024, in National Harbor, Maryland. For more details on the event schedule, please visit the summit's website (https://www.intersystems.com/global-summit/).

About ImmunoPrecise Antibodies Ltd.

ImmunoPrecise Antibodies Ltd. has several subsidiaries in North America and Europe including entities such as Talem Therapeutics LLC, BioStrand BV, ImmunoPrecise Antibodies (Canada) Ltd. and ImmunoPrecise Antibodies (Europe) B.V. (collectively, the “IPA Family”). The IPA Family is a biotherapeutic research and technology group that leverages systems biology, multi-omics modelling and complex artificial intelligence systems to support its proprietary technologies in bioplatform-based antibody discovery. Services include highly specialized, full-continuum therapeutic biologics discovery, development, and out-licensing to support its business partners in their quest to discover and develop novel biologics against the most challenging targets. For further information, visit www.ipatherapeutics.com.

Forward Looking Information

This news release contains forward-looking statements within the meaning of applicable United States securities laws and Canadian securities laws. Forward-looking statements are often identified by the use of words such as “potential”, “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information contained in this news release includes, but is not limited to, statements relating to the expected outcome on the market, the life sciences, drug discovery and development, integration and / or success of LENS^ai, LLMs, RAG, or HYFT technologies, including their benefits, and statements relating to IPA’s expected increased revenue streams and financial growth. In respect of the forward-looking information contained herein, IPA has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, the risk that the integration of IPA’s LENSai platform with its HYFT technology may not have the expected results, risks that the expected healthcare benefits including lowering development timeliness, and costs and that development of targeted treatments with higher efficacy and lower side effects will not be achieved, risks that the benefits to drug discovery, protein-based therapeutics, and synthetic biology won't be achieved, in addition actual results could differ materially from those currently anticipated due to a number of factors and risks, as discussed in the Company’s Annual Information Form dated July 10, 2023 (which may be viewed on the Company’s profile at www.sedar.com), and the Company’s Form 40-F, dated July 10, 2023 (which may be viewed on the Company’s profile at www.sec.gov). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. The Company does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240604502257/en/

Investor contact:

info@ipatherapeutics.com

Source: ImmunoPrecise Antibodies Ltd.

FAQ

What is BioStrand's LENSai model used for?

BioStrand's LENSai model is used for enhancing the analysis and integration of Electronic Health Records (EHR) to utilize real-world data in drug discovery and precision medicine development.

When and where will the LENSai model be demonstrated?

The LENSai model will be demonstrated at the InterSystems Global Summit 2024, taking place from June 9-12, 2024, in National Harbor, Maryland.

What is the significance of integrating EHR with BioStrand's AI model?

Integrating EHR with BioStrand's AI model allows for better analysis and utilization of vast health data, leading to superior insights and innovation in drug discovery and healthcare.

How does BioStrand's LENSai model contribute to the biopharmaceutical industry?

BioStrand's LENSai model simplifies the connection between real-world evidence and therapeutic discovery, enhancing drug discovery processes and accelerating the development of personalized therapies.

What companies are investing heavily in EHR and healthcare technology?

Tech giants like Amazon, Microsoft, Apple, and Alphabet are investing heavily in EHR and healthcare technology.

What are the business opportunities for BioStrand with their new model?

BioStrand's business opportunities include driving innovation in drug discovery and precision medicine, scaling operations, and expanding market reach.