Top pharmaceutical companies: 5 start-ups to watch in 2024
Growing a new pharmaceutical start-up is hard work. But it can get slightly easier when you model your growth path after the top pharmaceutical companies that have come before you.
It only takes one ground-breaking pharmaceutical development to change a product category forever.
TagBox recently developed a supply chain visibility platform for pharmaceutical manufacturers. Now, using real-time temperature monitoring and artificial intelligence, pharmaceutical manufacturers can track and trace products based on temperature regulations and other transport-related quality parameters. This allows pharmaceutical manufacturers to improve overall supply chain effectiveness and efficiency.
Keeping an eye on new players in the pharmaceutical industry can help position your own company for rapid and sustained success.
Take a look at this list of the top pharmaceutical companies landing and expanding in 2023 to get the inspiration needed to take your company to the next level this year.
The top pharmaceutical companies to watch in 2024: our top 5 list
Top pharmaceutical companies share a few common characteristics.
According to McKinsey, the very best pharma start-ups provide superior experiences to all stakeholders, including patients, caregivers, and clinicians. Additionally, these pharmaceutical companies "reimagine processes to dramatically reduce costs and accelerate decision making."
To jump-start pharmaceutical start-up growth, companies need to unlock major velocity in the early stages to provide proof-of-concept, secure funding, and demonstrate clinical safety for regulatory approval.
There is no room for mistakes or suboptimal quality and compliance during early growth. For this reason, many top pharmaceutical companies choose to partner with electronic quality management software (eQMS) vendors like Qualio.
Qualio offers pharmaceutical quality management software to unite pharma teams, processes and data and empower businesses to get their lifesaving drugs to patients without clunky, time-consuming paper processes.
1. Systemic Bio
Houston-based Systemic Bio is at the forefront of 'bioprinting'.
Their 3D printing facility aims to combine hydrogels with real human cells to manufacture 'vascularized organ models' at scale. Rather than implanting these organs in humans, they can be used for drug development and testing without endangering realm clinical patients.
Printing organs to test drugs on sounds like incredible, futuristic biopharmaceutical work.
And with $15m in funding under their belt already, Systemic is already turning heads.
RELATED READING: How to start a pharmaceutical company
2. Alphazyme
Qualio customer Alphazyme was founded in 2018 by Christopher Benoit, an expert in the field of enzyme development and production. Alphazyme's experienced team has a track record of success and a passion for supporting molecular biology innovators.
To expedite their business growth, Alphazyme partnered with Qualio to overhaul, digitize and optimize their approach to quality management.
VP of Quality Stephana Petrino needed a pharmaceutical eQMS that met the unique requirements of the business. Because the company needed to operate with increased agility, the system needed to be flexible. After analyzing their available options, Alphazyme decided to become Qualio customers.
With a best-in-class digital pharma quality system in place, Alphazyme has grown rapidly, opening a 22,000 sq. ft. research center in Florida and building new operational partnerships to ramp up their activity.
The future is looking very bright for this pharma organization, with 2024 shaping up to be a key year for them.
RELATED READING: Other Qualio pharma customer case studies
3. Roivant Sciences
Third on our list of top pharmaceutical companies to keep an eye on in 2024 is Roivant Sciences.
Roivant Sciences develops transformative medicines by building technologies and developing talent. The company offers a diverse pipeline of investigational drugs across an array of therapeutic areas. Moreover, Roivant Sciences leverages and develops nimble and focused biopharmaceutical and health technology companies, including Immunovant, Demavant, Datavant, Aruvant, and others.
Immunovant's investigational product candidate, IMVT-1401 (formerly known as RVT-1401), is a novel, fully human monoclonal antibody targeting the neonatal Fc receptor (FcRN). This product has the potential to address lgG-mediated autoimmune diseases as an injection.
RELATED READING: 5 notorious compliance issues in the pharmaceutical industry (and how to avoid them)
4. Relay Therapeutics
Relay Therapeutics is a clinical-stage precision medicine company. This seven-year-old biotech startup based in Cambridge, Massachusetts has raised nearly $1 billion in funding.
Recently, the company pulled back the curtain on the first three drugs under development—each of which targets a type of cancer. A Phase 1 trial for one aimed at a protein called SHP2 began in January 2020.
Moreover, Relay Therapeutics recently announced the dosing of the first patient in the first-in-human clinical trial of RLY-4008, a highly selective FGFR2.
“We are excited to bring RLY-4008, our second targeted therapeutic, into clinical development,” explains Don Bergstrom, M.D., Ph.D., executive vice president of R&D of Relay Therapeutics.
“FGFR2 altered tumors are known to respond clinically to pan-FGFR inhibitors but with limited benefit to patients. RLY-4008 is an exquisitely selective and purpose-built medicine, discovered with our Dynamo platform, designed to dramatically alter the course of disease for patients with FGFR2 altered cancers.”
5. Recursion Pharmaceuticals
Recursion Pharmaceuticals is re-engineering drug discovery through digital biology. The start-up is discovering new and transformative treatments by combining automation, machine learning, and more.
Recently, the company raised $239 million and partnered with Bayer for drug discovery facilitated through artificial intelligence.
"Recursion is our big bet in terms of digital drug discovery, "explains Huergen Eckhardt, head of Leaps by Bayer. "We chose to partner with Recursion as we saw them as the company with the best chance to deliver medicines that could be meaningful to patients as quickly as possible."
Master pharma quality and make 2024 your year
The top pharmaceutical companies on our 2024 list began by recognizing a real healthcare problem and analyzing available treatment options. Today, machine learning, mobile, and cloud technologies promise to revolutionize major pharmaceutical treatments, diagnostics and developments.
As an industry-leading quality management provider, Qualio is the leading eQMS for growing pharma and biotech organizations.
Book a demo with us to learn how to instil industry-leading quality into the heart of your pharma business.
