Bringing digital twins to boost pharmaceutical manufacturing

Pharmaceutical manufacturers are increasingly interested in the tenets of Industry 4.0, including the use of digital twins to simulate, test and optimize manufacturing processes on a computer before using them in production, according to technology advisory firm ABI Research. It projects spending by pharmaceutical manufacturers on data analytics tools--including the digital twin -- to grow by 27% over the next seven years, to reach $1.2 billion in 2030. As with other manufacturers, pharmaceutical makers plan to use the digital tools to boost productivity and to track their operations. Toronto-based Basetwo recently moved into this market with its software-as-a-service (SaaS) artificial intelligence (AI) platform. Today, the year-old company announced an upcoming $3.8 million seed financing round led by Glasswing Ventures and Argon Ventures.