Conclusion of the grant agreement with the National Center for Research and Development
The Management Board of Selvita S.A. with its registered office in Krakow (“Company”) hereby announces that on September 2, 2021 the Company obtained information about the conclusion of the grant agreement with the National Center for Research and Development (NCBiR) for the project titled “Creation of ProBiAI platform to produce focused libraries of bioactive compounds by applying machine learning and by integrating the design, parallel synthesis and automatic purification, all of which optimized using artificial intelligence methods in order to accelerate the drug discovery process” (“Project”) within the Smart Growth Operational Programme 2014-2020, measure 1.1.1. “Fast Track”, co-financed by the European Regional Development Fund. The Project will enable Company to implement new services for biotech and Pharma clients.
- Project net value: PLN 7 812 900,00;
- Financing granted: PLN 4 660 975,00;
- Project timelines: 2021-2023.
The aim of the Project is to significantly improve the early stages of the drug discovery process, leading to identification of the first active substance which may undergo further development. Usually identification is done by searching large libraries of randomly selected chemicals, which results in a low probability of finding a compound with the desired biological properties, is time-consuming and costly. In order to eliminate these problems the Company within the framework of the Project, will create a service platform, that will use much smaller, targeted libraries with a support of dedicated artificial intelligence models. What distinguishes this type of libraries is a much greater probability of identifying biologically active substances with better patentability pathway, which makes the identification process much faster and cheaper.
Legal basis: Art. 17 par. 1 of MAR
Representatives of the Company:
- Bogusław Sieczkowski – President of the Management Board
- Mirosława Zydroń – Management Board Member