Riffyn Awarded Its First US Patent for Experiment Design and Data Analytics
Newly patented hypergraph data model solidifies Riffyn’s position in the expanding market for linked-data analytics and AI in biotech and pharmaceutical R&D
Oakland, CA, USA, 27 February 2018 – Riffyn, a provider of cloud-based R&D software, announced that the United States Patent Office has granted its patent on a hypergraph data model for experiment design and data analysis (U.S. Patent No. 9,910,936). This technology is the foundation of Riffyn’s Scientific Development Environment (SDE) — paradigm-changing software used to speed scientific discovery and development.
“Global pharma, biotech and chemical enterprises are under tremendous pressure to shorten product development cycles to address product obsolescence, pricing pressures, and realize first-to-market advantages,” noted Dr. Timothy Gardner, Riffyn’s Founder/CEO. “The Riffyn SDE offers these companies a fundamentally unique path to digital transformation, harnessing linked-data analytics to shorten product development cycles.”
Enterprises seeking digital transformation of their R&D processes are currently impeded by unparalleled data complexity and heterogeneity. Consequently, integration of that data for analysis requires laborious and time-consuming manual effort. The Riffyn SDE solves the integration problem by automatically annotating and reshaping diverse scientific datasets for machine learning. Thus, Riffyn SDE users can shift their efforts away from low-value data management to high-value discovery activities that harness AI, quality-by-design, and visual analytics.
Over $200 billion is spent each year on life science R&D, with $142 billion spent in biopharmaceutical industry R&D alone. Of that spend, approximately 8% ($11.4B) is spent on information technology. Riffyn will utilize the patent to advance its position in this rapidly expanding market. In particular, it will strengthen Riffyn’s capabilities for streaming fully-annotated and uniformly-structured data to R&D data lakes, one of the fastest growing areas of IT investment. Riffyn predicts continued rapid growth in 2018, following its outstanding 2017 performance that delivered a 1000% increase in year-on-year revenue.
Riffyn is a provider of research design and analytics software (SaaS) to biotech, pharmaceutical, food and chemical industries. Riffyn’s cloud-based Scientific Development Environment (Riffyn SDE) delivers trustworthy data and real-time analytics to R&D organizations who want more productive, reliable science. The Riffyn SDE gives customers the power to achieve repeatable outcomes, faster discoveries, and right-first-time technology scale-up. Riffyn serves enterprise R&D customers across the US, Asia, Europe and South America, and has offices in Oakland, CA and Boston, MA. For more information, visit: www.riffyn.com. Riffyn has previously raised $12 million in venture financing.
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