Artificial Intelligence in Drug Discovery: An overview

According to Markets and Markets, the global AI drug discovery market is projected to reach $ 1,434 million by 2024 from $ 259 million in 2019, at a CAGR of 40.8% during the forecast period 2019–2024. For example, BioXcel Therapeutics, Inc. (Nasdaq: BTAI) is a clinical-stage company utilising AI drug discovery approaches in neuroscience and immuno-oncology and has an emerging drug named BXCL501, that is an orally dissolving thin film formulation of dexmedetomidine, a selective alpha-2a receptor agonist for the treatment of agitation associated with neuropsychiatric disorders (Via Finance Yahoo). BioXcel Therapeutics has observed anti-agitation results in multiple clinical studies with BXCL501 including: SERENITY I for schizophrenia related agitation, SERENITY II for bipolar disorder related agitation and TRANQUILITY for dementia related agitation. Accordingly, BXCL501 has been granted Breakthrough Therapy designation for the acute treatment of agitation associated with dementia and Fast Track designation for the acute treatment of agitation associated with schizophrenia, bipolar disorders and dementia. Moreover, BioXcel recently received acceptance of its New Drug Application for BXCL501 for the acute treatment of agitation associated with schizophrenia and bipolar disorders.