What is Smartomica?
Smartomica is a fully automated Latvia-based platform-based solution for DNA and RNA data analysis and interpretation. It is a biotech SaaS company that equips physicians with patient-tailored treatment and diagnostics scenarios. The company develops a universal methodology in the sphere of personalized medicine to apply existing scientific knowledge for the benefit of each individual patient. Analysis and interpretation of scientific data are performed with the help of AI technologies.
The current landscape
Speaking of the current industrial landscape, the global biotechnology market size was valued at $752.88 billion in 2020 and is expected to expand at a compound annual growth rate of 15.83% from 2021 to 2028. The recent International Data Corporation report predicts a 36% growth rate for healthcare data over the next five years, faster than in any other industry. As for the potential of the advanced technologies, the McKinsey research in 2011 identified a $300 billion opportunity from data and analytics in US healthcare (and only 10 to 20% of that was captured as of 2016!).
How Smartomica began
For Smartomica, all these trends became a great opportunity to create a link between scientific knowledge and technologies. Valeria Kogan, a Ph.D. in Bioinformatics and Forbes 30 under 30 Russia nominee, has always dreamt of making advanced genetic reporting a part of regular clinical practice with the power of AI.
By the end of 2019, Igor Koman, a Ph.D. in Clinical Pharmacology and a science advisor in the field of personalized medicine for clinics and startups, convinced Valeria to make an MVP of the product and to identify if there is any demand for it among physicians. And the answer from the professional community was positive!
How Smartomica works
Valeria and Igor developed a platform solution for medical experts that helps to make data sequencing and bring evidence-based insights from the genetic data in complicated patient cases. The company automatically extracts data from more than 3M scientific articles about oncological and non-oncological cases. This data is then used to create reference-based reports and actionable recommendations in a physician-friendly manner with clinical wording. Smartomica has integration with more than six scientific databases, including Cancer Genome Interpreter, OncoKB, CIViC, and SNP.
"When scientific reference becomes life saving evidence"
The plan to grow
In spring 2020, after six months of market hypothesis testing, Valeria and Igor, without any fear or doubts, registered a company in Latvia in the heat of the pandemic. Their tandem in one year has grown into a team of 25 spread across five countries (and most of them have never met each other offline yet!). Now the Smartomica solution is commercially used by physicians in Latvia and Israel and non-commercially by the Latvian Pediatric Cancer Initiative, but the company founders don’t plan to rest on its laurels. Their business goal is to expand to the EU and the USA, and the big humanist purpose behind it all is to use strong scientific expertise and evidence-based treatment schemes to save as many lives as possible
check them out: https://www.smartomica.com/