Riffyn Awarded Its First US Patent for Experiment Design and Data Analytics
Product News Mar 01, 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.