Sramana Mitra: Data is clearly going to change the pharmaceutical industry. Susan Wood: Similarly to find sites. Here are 50 sites that do high-quality imaging work. We went into this by getting imaging biomarkers. That’s an important thing, but more importantly, there are so many disconnects and inefficiencies in running these trials that our data
Sramana Mitra: What is the average deal size? Susan Wood: In phase three, it’s in the order of $3 million to $5 million. I want to mention something else. When patients couldn’t go to a centralized site to get evaluated during COVID, they were shut out. The big push in the industry is what’s called
Susan Wood: There are people out there who are walking around with a prevalence of lung disease that they’re not even aware of. You can have low-level or medium-level lung disease and not feel that much difference in your day-to-day life. When you have a pandemic and you have this acute impact on your respiratory
Sramana Mitra: Did you succeed in raising venture capital? Susan Wood: Within the state, yes. The last round was a couple of years ago. That was with First Analysis out of Chicago. I’ve got some Silicon Valley money, but mostly from Midwest. Sramana Mitra: It’s a common storyline where you get the early-stage funding from
Sramana Mitra: Did you work in engineering all through this period? Susan Wood: No. When I left Hopkins, I actually worked in a business capacity. It was a very technical sale. I probably wasn’t as heavy on my programming ability as a lot of the people in the company. I started learning my MBA on
This conversation not only highlights Susan and VIDA’s journey but is an excellent analysis of the Pharmaceutical Services space. If you’re looking to do/doing a startup in this field, the conversation should be illuminating. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born and raised?
Tigran and his brother were Ph.D. students when they decided to quit their Ph.D. program and build a company out of their Ph.D. research technology. They have since raised over $15M in funding and built a customer base of ~200 in their ML Ops business. They are leveraging countries like Armenia and Bangladesh for development
Sramana Mitra: Of the millions of people who are pursuing a machine learning career as a citizen data scientist track, data scientist track, or a developer track, in what time frame will that impact industry? Gideon Mendels: It’s a gradual change. It’s already impacting the industry. When I studied computer science, there weren’t any machine