InveniAI Appoints Industry Veteran Dr. Amit Agrawal to Board of Directors and Expands its Operations into the EU

Dr. Agrawal, a biopharma Strategy and R&D leader, brings scientific and technology expertise to a world-class board of directors at InveniAI.

InveniAI establishes presence in Basel, Switzerland as it expands into major industries in addition to biopharma.

GUILFORD, Conn., July 02, 2019 (GLOBE NEWSWIRE) -- InveniAI® Corporation, a global leader pioneering the application of artificial intelligence (AI) and machine learning (ML) to transform innovation across healthcare and other industries, today announced it has appointed Amit Agrawal, Ph.D., Global Head of Portfolio Strategy and Management for Global Drug Development (GDD), Novartis as a key member of its board of directors. InveniAI has also established a European headquarters in Basel, Switzerland as the company’s platform, AlphaMeld, continues to see rapid adoption in the US and internationally.

“Amit will add a broad corporate strategy perspective and bring strong biopharma experience to our board as we look to forge new partnerships," said Krishnan Nandabalan, Ph.D., President and CEO, InveniAI Corp. "Our expansion into the EU marks a milestone moment in the growth of InveniAI as we see our platform being deployed to access and monitor innovation by world-class organizations across the globe," he added.

“InveniAI’s AI-based platform, AlphaMeld, accelerates identification of the next breakthrough, lending competitive advantage to its users. It can aid decision making across the entire value chain and it bridges the gap between human expertise and the insights hidden in the vast amounts of data being generated both within an organization and in the public domain,” said Amit Agrawal, Ph.D., Global Head of Portfolio Strategy and Management, GDD, Novartis. “Having seen first-hand the impact of AlphaMeld in bringing new innovation to the market, I am excited to be part of their journey. InveniAI has highly curated, proprietary, large data sets that are constantly updated, unique machine learning algorithms, and a team of talented, motivated experts with several decades of domain experience in life sciences and adjacent industries.”

About Amit Agrawal

Amit Agrawal is currently the Global Head of Portfolio Strategy and Management for Global Drug Development at Novartis. He joined Novartis in October 2018 from Amgen where he was the Head of Corporate Strategy. At Amgen he was responsible for managing strategic planning process and communications to the Board, company-wide resource allocation planning and transformation, and driving M&A and capital investment projects. Prior to Amgen, he was an engagement manager at McKinsey and finished a post doc at MIT, where he developed and tested formulations that improve siRNA delivery in ovarian cancer and glioblastoma mouse models. He completed his PhD in Biomedical Engineering from Georgia Tech and has an undergraduate and master’s degree in Chemistry from the Indian Institute of Technology, Kanpur. He is an author on over 20 research articles and in his spare time he plays percussions for charitable causes.

About AlphaMeld - Anticipating the Future

AlphaMeld, created on the premise that every innovation begins with a core discovery or invention that gathers momentum, is an AI-based platform powered with machine learning algorithms that monitor alpha signals indicative of breakthrough innovation. The platform operates in real-time and recognizes these patterns in a rapidly changing and diverse data environment by engaging internal experts to personalize the definition of success and failure for an organization or vertical market. The platform eliminates dependence on a time-series and uses industry-aware scoring algorithms that are customized and further strengthened by incorporating continuous feedback through machine learning. AlphaMeld is trained to amplify human expertise to enable robust decision-making tailored to the needs of multiple stakeholders within an organization.

About InveniAI

InveniAI® Corporation is a global leader pioneering the application of artificial intelligence (AI) and machine learning (ML) to transform innovation across healthcare and other industries. The company leverages AI and ML to harness petabytes of disparate data sets to recognize and unlock value for AI-based innovation monitoring and AI-based drug discovery and development. Numerous industry collaborations in Big Pharma, Specialty Pharma, Biotech, Consumer Healthcare, and Animal Therapeutics showcase the value of leveraging our technology to meld human experience and expertise with the power of machines to augment decision-making. The company continues to collaborate with industry partners to address cutting-edge problems across the value chain from internal to external innovation and to complement corporate decision-making. InveniAI is headquartered in Guilford, CT, USA.