LAUNCH OF LIGHTHOUSEAI™, AN AI-BASED VENTURE UNIT TO SOLVE COMMERCIAL REGULATORY COMPLIANCE FOR THE LIFE SCIENCES INDUSTRY
| by: Sumeet Singh, Founder & Chairman | Article Posted: February 1, 2023 |
Pharma Solutions, a leading provider of compliance services in the life sciences industry, announces the establishment of a new corporate venture unit and product suite, LighthouseAI.
LighthouseAI aims to solve compliance with a first-mover, AI-powered SaaS product suite that will fundamentally change the approach life sciences companies have for compliance. This purpose-built technology will help reduce the cost, time, and risk associated with commercial regulatory compliance through the application of its patent-pending AI engine.
To lead this new technology and venture unit to market, Pharma Solutions CEO Sumeet Singh will be transitioning to CEO of LighthouseAI effective on February 1st, 2023, to become fully focused and committed to the growth of the venture unit.
“We found a better way for our clients to manage the patchwork of regulation applicable to the life sciences industry, which consists of over 80 state agencies that create and enforce rules based on various federal and state laws that result in over 2,000 compliance requirements that may apply to any of the 15,000 companies within the industry,” says Mr. Singh. “With the development of our category defining RegTech venture unit, we aim to automate and technologically enable a historically manual, complex, and painful compliance journey with reduced effort and cost.”
Mr. Singh will remain Chairman of Pharma Solutions to ensure the continuation of the company’s successful growth path, and to ensure that current levels of support for all clients and partners remains unchanged. He will pass leadership to Nathan Fox, who will transition from Chief Operating Officer into the role President of Pharma Solutions.
“I have worked hand in hand with Sumeet since I joined in July 2019, and together we have grown Pharma Solutions into the leading provider of compliance services in the pharmaceutical supply chain. I am wholly confident in our ability to continue our growth path, while retaining a relentless passion for helping clients meet their business and compliance objectives,” says Mr. Fox.
Learn more about LighthouseAI and its forthcoming AI-powered compliance platform by joining the wait list here: https://sneakpeek.lighthouseai.com/solving-compliance-with-ai/
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