PITTSBURGH, April 9, 2021 /PRNewswire-PRWeb/ -- Cognistx (Cognistx.com), a tech firm that designs artificial intelligence (AI) business solutions, announces its partnership with MagicMed Industries Inc. ("MagicMed"), a Canadian biotech company, to develop a groundbreaking AI tool ("PsyAI™") intended to streamline pharmaceutical design.
The development of PsyAI™ seeks to streamline pharmaceutical design by predicting structure, manufacturing capabilities and pharmacological effects in an effort to accelerate the modernization of psychedelic medicines. PsyAI™ will study the derivative compounds contained in MagicMed's Psybrary™, eliminating ineffective compounds and honing in on the exact chemical components that will effectively address a vast number of brain and mental health conditions ranging from addiction and depression to post-traumatic stress disorder (PTSD).
Using machine learning, the ability of systems to automatically learn and improve from experience, means that PsyAI™ will learn in parallel with the work of chemists and scientists in MagicMed's labs, accelerating testing and putting many drugs on the fast track to market.
"The application of AI in the pharmaceutical industry is relatively new but rapidly gaining traction. We'll be able to identify the right drugs to treat specific conditions, expediting the development process and creating more effective and accessible treatment solutions for a larger patient base," said Cognistx CEO Sanjay Chopra.
"Our PsyAI™ tool is intended to gather and assesses more data from bench studies, nonclinical studies and even clinical trials. It will be able to more intelligently infer the specific uses and effects associated with a given structure and eventually allow users to specify their desired pharmacologic characteristics, such as usage/effect preferences, and generate recommended molecules as output," said Dr. Joseph Tucker, CEO of MagicMed.
The use of therapeutic psychedelics has experienced a boom in the last several years. A growing number of clinicians and researchers worldwide endorse the use of psychedelic medicine to treat mental health conditions. The onset of technology like artificial intelligence will expand the use of alternative therapies at a faster rate and likely make certain drugs and treatments more accessible.
"The convergence of AI and psychedelic medicine will result in a medical renaissance – all to benefit the treatment of mental health conditions," Chopra said. "It's very exciting to be at the nexus of this convergence of medicine with AI technology."
Founded in 2015, Cognistx is a Pittsburgh-based applied-AI company founded by Carnegie Mellon University academics. The company builds multi-strategy AI systems for clients across the U.S. Cognistx creates AI-powered computer systems that can sense, learn and act. Its founders are pioneers in the fields of automatic question-answering, speech processing, computer vision, natural language processing (NLP) and applied machine learning. Cognistx is able to efficiently combine and customize the best advanced technologies — its AI building blocks — to create applications that extract meaningful insights to produce measurable impact for its clients. Visit Cognistx.com.
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MagicMed Industries intends to partner with pharmaceutical and other companies to develop and commercialize psychedelic-derived pharmaceutical candidates. MagicMed's psychedelic derivatives library, the PsybraryTM, is anticipated to be an essential building block from which industry can develop new patented products. The initial focus of the PsybraryTM is on psilocybin and DMT derivatives, and it is then expected to be expanded to other psychedelics such as MDMA, LSD, mescaline and ibogaine. Visit MagicMedIndustries.com
Patricia Maldonado, Cognistx, 305-490-8831, [email protected]