Precision medicine is the kind of technology that tailors to the individual characteristics of each patient. That way, the patient gets the perfect remedy for the ailment. Precision medicine has helped flush out the old theory of one-drug-fit-all and is concentrating on giving the patients a better treatment with medicine designed specifically for the characteristics.
Phronetik is a rapidly-growing leader advancing precision medicine by leveraging biotechnology, bioinformatics, and artificial intelligence to improve diagnosis, treatment, and monitoring, and impact scientific research with actionable insights.
In an interview with The Enterprise World, the leaders of Phronetik walk us through their journey.
- Tell us about the company.
Phronetik is a rapidly growing leader in the life science space, advancing precision medicine by leveraging biotechnology, bioinformatics and artificial intelligence to improve diagnosis, treatment, monitoring and advance scientific research. A few of our core competencies include DNA/RNA sequencing, clinical trial support, genomic mapping, data capture and analysis, predictive analytics and statistical design.
- What were the initial challenges you faced?
Like any small business, funding was our greatest challenge. Funding a new biotechnology company is no small endeavour. Thankfully, we were able to focus on government grants and subcontracting opportunities, allowing us grow organically.
- Which was that point that triggered the growth of the company?
When we were awarded our first prime contract under the National Institutes of Health, we certainly saw an uptick in growth. Since then we have tried to maintain a controlled growth, selectively choosing opportunities and clients. We focus on doing good business, and our mission to advance scientific discovery underscores all we do.
- What is the reason behind your company’s long-standing success?
By far, perseverance in uncertain times has paid off. Government contracting can have a very long sales cycle. We strive to have multiple opportunities in our pipeline.
- What are the products/services the company focuses on? How are your services different from those in the market?
A detailed overview of our flagship product, iConcordia, along with our services and competitive advantage are outlined below.
- Phronetik iConcordia™ The iConcordia™ engine correlates the ‘-omics’ factors that genetically describe us, controlled DNA sequence mutations, and combines it with social, lifestyle, environment and cultural factors and information specific to an individual patient to guide therapeutics beyond population health. This allows physicians to tailor treatment for a patient based on the patient’s specific attributes, lifestyle factors, and genetic makeup
- Phronetik Services include DNA coding, mapping and sequencing, processing biotechnologies, genomic testing and research support, protein sequencing, bioinformatics, data analysis, and health IT support and services.
Phronetik exists to serve the biotechnology, healthcare data and technology needs of government, life science, hospitals, ambulatory and private practice, pharmaceutical, non-profit and community-based organizations. We target clients such as the NIH, CDC, HHS, and CMS, as well as partnering with and providing solutions for academia, research institutions, private clients, and clinical trials to facilitate research and innovation within the health technology domain.
The purpose of Phronetik’s products and services is to improve the quality and safety of patient care through evidence-based, technology backed solutions.
The purpose of Phronetik’s products and services is to improve the quality and safety of patient care through evidence-based, technology backed solutions. Access to the right information at the right time provides accurate and complete information about a patient’s health, the ability to quickly coordinate and provide care, and a way to share information with patients, their caregivers and other medical professionals. By providing biotechnology and IT support in new drug development or patient-centred outcomes, we offer new ways to upload and use new clinical data while building on existing information.
Phronetik’s Biotechnology services include partnerships with universities, CAP/CLIA certified laboratories and participation in global projects and initiatives.
Laboratory data generated from genomic, pharmacogenomic, transcriptomic, proteomic, and other OMIC data is necessary to understanding health and disease. Our capabilities include:
- Diagnostic testing used to precisely identify the disease that is making a person ill
- Predictive and pre-symptomatic genetic tests used to find gene changes that increase a person’s likelihood of developing diseases
- Carrier testing used to find people who carry a change in a gene that is linked to disease
- Pharmacogenomic testing to give information about how certain medicines are processed by an individual’s body
- Research genetic testing used to learn more about the contributions of genes to health and disease
Phronetik provides Next-Generation Sequencing (NGS) services for genetic testing, analysis, and research support. We take structured and unstructured data, clean it, standardize it, integrate it, then analyse it. Our capabilities include:
- DNA-Sequencing analysis including whole-genome, whole-exome, and targeted sequencing to allow mapping and studying genetic variants or mutations
- RNA-Sequencing analysis to pinpoint molecular mechanisms between genotype and phenotype, including transcriptomics
- Epigenomics to study dynamic change in gene expression
- Biomarker detection to help detect the early presence of disease and help determine a patient’s response to treatment
Phronetik services complement our product offering, but also allow the organization to compete and generate revenue even if a client chooses not to purchase any products. The goal of our services is to remove the burden of technology from healthcare organizations and becoming their trusted advisor. Our services include:
A HIPAA Compliant approach to affordable IT management and support.
- 24×7 Service Desk
- Server and network maintenance
- Anti-virus management
- Remote monitoring
- Proactive Maintenance
Phronetik is one of several companies engaged in unleashing machine learning in order to understand disease while recommending clinical trials.
Our 360º HIT™ service is a fully outsourced CIO offering to help hospitals, private practices, and clinics navigate their technology landscape.
- Outsourced CIO Services
- HIPAA Privacy & Security Standards Implementation
- Disaster Recovery Planning
- IT Assessments
- Healthcare-Optimized IT Infrastructure
- Hardware/software procurement
Custom mobile and application development tailored to unique business needs.
- Rapid prototyping and testing
- Development across multiple platforms (iOS, Android, Windows)
- Repeatable methodology for implementation
- Custom solutions to meet staff, provider, and payor interactions
- How do you decide to take the company a step further in terms of your products/services?
The biotechnology space is constantly evolving. We stay apprised of trends and respond to industry by pivoting when necessary. A close study of the trends in the Biotechnology industry indicates the industry is growing rapidly due to key themes such as precision medicine, regenerative medicine and genetics in diagnostics. Technological advancements related to artificial intelligence in this industry is expected to fuel growth and progress with several potential avenues. Phronetik is one of several companies engaged in unleashing machine learning in order to understand disease while recommending clinical trials. Developed economies such as the UK and US are critically monitoring and funding synthetic biology R&D initiatives.