January 15, 2017 (Vol. 37, No. 2)
Medmeme Amasses, Organizes Pharma Content and Helps Reveal Meaningful Connections
There is a myth that all data is valuable. But as companies embrace Big Data, relevant material often is overlooked or never found.
“Content is king, but context is God,” Mahesh Naithani, CEO and founder of competitive intelligence company Medmeme, says, quoting digital marketer Gary Vaynerchuk. “Content without context is useless or, worse, counterproductive.” Medmeme provides the pharmaceutical industry with both content and context: aggregating data from scientific and medical meetings and journals throughout the world to provide a continuum of thought from research through commercialization. Most importantly, this data is compiled in a single format in one, easily searchable database.
According to Naithani, Pharma is faced with two key questions:
- Can I save time?
- Can I make money faster?
Getting to a “yes” for either question isn’t as easy as many people in Pharma may believe. “People think if they collect enough data they can solve the problem,” Naithani explains. “But if that data isn’t relevant and precise, it’s not useful.”
Addressing those concerns requires connecting information. “Data can be connected through protein, sequence, DNA, RNA, mechanism of action, disease, condition, product type, drug, pharmaceutical company, experts, institutions, and many other factors,” Naithani points out. “These factors aren’t automatically connected. Medmeme’s job is to connect them, providing context and analysis to yield the most relevant information.”
That connection process involves collecting structured and unstructured data, normalizing it to conform to a unified schema, and analyzing it with specific needs in mind. This enables data from different file formats to be aggregated, mined, correlated, and analyzed to provide the precise information clients need. Naithani says that while there are many expert databases available, Medmeme’s database is unique because it addresses what Microsoft terms the fourth paradigm of information: data-intensive scientific discovery.
Global Data in One Database
Medmeme delivers comprehensive, automated solutions that harvest, clean, filter, integrate, and analyze well-vetted scientific thought, rather than merely collecting it. Therefore, it captures the continuum of data as it evolves from research to application, testing, analysis, production, and commercialization. The company’s three solutions—Insightmeme, Conferencememe, and Impactmeme—address the specific needs of research, marketing, and medical affairs personnel.
Insightmeme is designed for researchers. It contains 10 years of medical and scientific information from databases throughout the world, and it includes more than 14,000 global conferences and every peer-reviewed PubMed listing in one searchable source. Approximately 40 million scientific abstracts are included in the database, with more than 2 million added each year. The database is continually updated to ensure access to the most current information.
Conferencememe focuses strictly upon medical and scientific conferences. It allows users to search conferences by therapeutic, product, or keyword to identify the meetings most relevant to their interests. By accessing the database of 14,000 annual meetings and more than 10 million abstracts, pharmaceutical marketers can ensure they have a presence at the conferences that are most important to them and their products. Consequently, marketing efforts can be better focused. Abstracts are updated weekly, enabling companies to gain timely insights, even from meetings they can’t attend.
Impactmeme is designed for medical affairs personnel and provides the data for accurate, competitive intelligence reports. Applications may include identifying and profiling rising stars as well as key opinion leaders, optimizing resources, tracking the impact of specific scientific communications, and analyzing key therapeutic areas in terms of the quantity, quality, and strength of relevant presentations and related trends.
“We have no competition in the area of impact,” Naithani tells GEN. The scientific impact of the papers referencing a company’s products is one measure of whether that science is understood by the broader community and deemed relevant, and of the effectiveness of an organization’s communications efforts. Impact, therefore, holds a competitive value.
Strong Financial Upside
“The financial upside for Medmeme is great,” Naithani says. “As products enter Phase II trials, developers need more precise information,” which increases demand for databases like Medmeme’s. Companies also are realizing that through the analysis of the growing quantity of unstructured data (as well as structured) they can discover new customer segments and new insights that otherwise may have been overlooked. Accessing more comprehensive data, therefore, provides a competitive advantage in terms of research as well as marketing.
“We’ve grown at 100% for the past three years (including 2016), and can continuing growing at a rate of 50 to 100% for the next three years or so,” asserts Naithani. “The excitement is there to create something very, very useful for the pharmaceutical industry. That’s our focus: to do something that increases productive value and saves time.”
Naithani describes himself as an entrepreneur who thrives on solving industry problems. He created, nurtured, and sold two other companies focused on life sciences information before forming Medmeme in 2005 and taking it operational in 2007. As with his other companies, Naithani says his goal is for Medmeme to fill a significant niche that others have overlooked. “We want to create something that becomes a gold standard in our industry,” he declares.
Location: 501 Seventh Avenue, Suite 508, New York, NY 10018
Phone: (212) 725-5992
Principal: Mahesh Naithani, CEO
Number of Employees: 170
Focus: Medmeme is a healthcare analytics company focused on aggregating life-sciences data in one place to provide a comprehensive, up-to-date source of global information of competitive value for the biopharmaceutical industry.