We met Amanda for a chat about her newfound passion for the Life Sciences industry.
- So, why do you find the Life Sciences industry particularly interesting? “The Life Sciences industry is fascinating for several reasons, but my personal favorite is the notoriously long R&D processes and the massive amounts of R&D investments. This means that the Life Sciences industry is exceptionally reliant on their ability to drive effective and successful innovation, while operating in a relatively constrained space that is characterized by high regulation and often large, conservative institutions. The last few years have seen large Life Sciences players struggle in this tension, but similar to other industries, this makes room for new market entrants, in particular those who leverage technology to pursue opportunities that circumvent the massive R&D investments and the conservative institutions.”
- Are there any specific opportunities that you would like to highlight? “Technology’s crusade into almost all corners of the Life Sciences industry, combined with the widespread flood of connectivity is expanding the search for Life Sciences innovation not just in the laboratory, but to the realms of the real world. The practice of Real World Evidence is based on collecting data on diseases, treatment, behavior or outcomes generated in the real world, e.g. could be your digital health records or the health app on your smart phone. After grinding such data sets, the extract left for the Life Sciences companies is vital insights from the real world, which can guide their R&D for future offerings and help them display the value of their current offerings.”
- What could clients do to pursue this opportunity? “For Life Sciences companies that wish to broaden their horizon from the laboratory to the real world of their patients, new collaborations could be elevating. New collaborations can create access to new capabilities within data collection and analytics. Developing the right sensors to collect the right health data could require specific IoT capabilities, just as analyzing the data to unlock the insights could require significant computing power, such as the cognitive computing of IBM Watson. But that’s not all, collaborations across institutions and public bodies will also have a role to play, especially collaborations with healthcare institutions, where the collection of accessible data could take the Life Sciences industry to new heights. Elevated to a real world horizon by such collaborations, the life sciences company that pursues better innovation will also be pursuing better patient outcomes in the real world.”