There are three basic business models in bioinformatics:
- A consultancy
- Licencing of insights
- Selling a tool
In the consultancy model, you are being paid for your time and expertise. The risk lies with the payer (employer) in this case. There is no guarantee that you will come up with anything useful. Therefore your margins are also low.
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Randomised controlled trials (RCTs) have been the gold standard for statistical evidence, of treatment effect, for over 100 years. Their strength is in their attempt to avoid major sources of bias in a comparison of the evidence. However, they are costly to run, particularly in the domain of personalised medicine, to which medical AI products typically belong.
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Just a little list inspired by a friend. 10 years of my life. A life of priviledge mixed with some pain. A lot of lessons learned, some of them more painful than they needed to be.
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I have been invited to speak at the Dynamics of Immune Responses workshop/seminar/conference in May-June 2020. The invitation arose through my previous efforts to found a company in this space.
There is a growing awareness in the field of immunology of the potential for using mathematical techniques. The wedge-issue here is the cascade of data appearing via new cytometry techniques; large-data looks like a math issue to most people. I of course come from the other side of a spectrum – everything looks like a math issue to me – I wanted to stimulate drug development which engages with immune system dynamics by founding my company.
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