Unveiling AI’s Impact on Life Sciences Regulation with Ivan Perez Chamorro

Ivan Perez Chamorro: 0:00

It isn't about giving you the straight answer and I think in quality and regulatory so difficult say this is why you need to do the AI just see like a small when we talk about AI some people think AI is like a magic wand and so on actually is.

Harsh Thakkar: 0:15

What's up everybody, this is harsh from qualtivate.com. And you're listening to the life sciences 360 podcast. On this show, I chat with industry experts and thought leaders to learn about their stories, ideas and insights, and how their role helps bring new therapies to patients. Thanks for joining us. Let's dive in. All right, welcome to another episode of Life Sciences 360. My guest today is Ivan Perez Chamorro. He is the CEO and founder of med board. He lives in UK. Welcome to the show, Ivan.

Ivan Perez Chamorro: 0:45

Hello, Harsh. Thank you so much for having me as well.

Harsh Thakkar: 0:49

I want to start off by asking you what was the moment in your career that inspired you or motivated you to start med board?

Ivan Perez Chamorro: 0:58

I think the idea kind of like, cultivated over over a period of time, I always had passion to access to information, trusted information, strategies and so on. But it was through that I could say there was a defining moment that said, Okay, I need to do something. And it's kind of like a funny story about it. I was consulting, I was helping board of directors, a CEO for a Big Pharma. And they were asking me a lot of questions. And I was responding to those questions. They were getting a lot of knowledge or intelligence in case of how to get to another country, what was the best strategy and so on? We reached to a moment that the CEO said to me, how can I clone you? Quite ironically like, it wasn't about me having all that knowledge. And I said to them, I'm not a specialist. This information is out there, it's just a matter to having access to this information. So that phrase stayed in my head when I came back to the UK because this meeting was actually in Paris. And I came back and I was thinking, I always wanted to create a product since I did my studies, first in physics, and then you know, in business, and that idea about cloning, cloning, it has to be a platform where people can access this type of information. So if there was a defining moment, where I say, Yeah, now I need to do it that was that phrase that person said to me.

Harsh Thakkar: 2:22

Wow, interesting. So you were in this project, but you had all the regulatory knowledge and everything in your brain? And then you basically productize that into the software after you heard that phrase from, from whoever said, How can I clone you?

Ivan Perez Chamorro: 2:39

It was more like the the idea, right? There was a lot of research, it was more about the concept, I would say, because there was a lot of research, a lot of trying to find information, structured information and provide pathways or options, right. And that that information, in terms of like it was regulatory was clinical as well. And he was developing it was combining all that information that the information was out there, it was just a matter to find that information out there. But when you don't know the sources, or we didn't know that information exists, it feels so far away sometimes.

Harsh Thakkar: 3:14

Yep. So you talked, you're already going into the next question that I had in my head, which is being in this space, you mentioned that having the information in all different sources. That's the challenge. What are like some other challenges that life science companies have with managing regulatory intelligence or regulatory documentation? What from your experience?

Ivan Perez Chamorro: 3:36

I think the main one today is to keep up to date. At most of the companies, they come to us, they report either they cannot keep up to date on or they have a lot of people using manual processes forums in order to keep up to date. So either you use manual processes, or you are actually losing track. So that's that's for me is is the main problem, or the main need that we have today. You look back like 5, 10, 15 years ago, maybe this was not needed, right? Because there were not this kind of like huge flow of news. When you look into the clinical areas as well there's like a much higher flow of news and updates. So I think that would be the main problem and the second would be to keep organized. So once you have detected that information, you need to create a workflow or kind of a process where you can review the information, make some decisions and then create a task to actually action the intelligence, the actions, or whatever you have found that you need to do a ready mediation. So that process the second challenge that companies has.

Harsh Thakkar: 4:49

And then so your platform med board helps them with managing all this information organizing it so all their companies users who are using the platform can access that information and customize their own views is that how, how you've designed the product?

Ivan Perez Chamorro: 5:07

Yes, how we approach the product is first a huge platform content, a lot of content that is specific platform, we have AI research. So we can complement the information. We as well allows users to get information connected between like different pieces of information. And then on the other side, we have enterprise solutions, that allows companies to actually customize. So we have systematic reviews, we have list monitoring, we are releasing, actually, in a couple of weeks a Task Manager, we have product portfolio, or we have a contrary restrictions and we have a lot of different digital solutions. So first, what we do is we focus everything like the center has to be the data, trusted data, and then we are building a lot of digital solutions that enterprise solutions for companies.

Harsh Thakkar: 5:55

Interesting. And do you as a, as a CEO of the company, I'm sure that you've come across many projects, or worked with many clients who have seen the benefit or the advantage of using your platform? Do you know of any projects or any stories where a client used med board and the before and after like before they use med board? And after? Where you saw the benefits of of helping them? Do you have any examples you can share? Yes.

Ivan Perez Chamorro: 6:26

I will give you examples. But just the the main statistic is we have 100% retention. So obviously that This used to take me like three weeks, now means that they are finding value, and then they want to grow with us. I think when we talk about benefits and specific it takes me five minutes, I go there, I have all my updates, I projects, or companies, we are sometimes forgetting that humans are behind. So the best feedback that we get is humans, professionals, individuals saying thank you. can review the information and so on. And the other thing that is very important to recognize as well for organizations and senior management is those individuals, they're using daytime many times as well for very boring task. So they are reviewing Word documents, they are filling forms, or they are they checking a lot of websites every day. So this specific stories are more within teams, individuals. But for example, we have teams that or companies that they have like five, six people doing this task. Now they can do it with med board, and they can use that five or six people with something else. Or we have stories that I really like about this one, like auditing a company, the company saying, No, we haven't had any field safety quality action last year checking a Med board on real time and say, Well, I can see you had one, are you sure? And then after that, I recognize that actually, there was a few steps to go off the action that they forgot. And that's a very important concept that we want to bring with Med Board is transparency. So companies, regulators, and all their stakeholders to know that there is more transparency, because we are allowed to connect all the dots and relations as well, create these relationships between different events, different types of organizations, and as well as individuals.

Harsh Thakkar: 8:21

Yeah, that's, that's really interesting. We mentioned about transparency, because there are a lot of use cases that maybe you see companies and clients using them. It's hard to envision when you first designed the platform, but now that now that it's out there, there, I've seen some times where like a software is designed to do X, but then most of the people use it for some other use case at which we never thought of like oh, this I never thought this could be used. So it's nice to learn that you saw a different like an auditor example. And then one from from the client. I want to ask you about data. So I'm sure that so so if I understand correctly. So med board has external data, but also internal data, is that correct? From a from a client, they can add internal?

Ivan Perez Chamorro: 9:16

Okay, actually, we have like, you can see like three channels, we have external data that we create, trusted data we create as well summaries in some specific areas, and then it's through customers that can upload data and manage that data organized as well and connect with the other three or the other two channels as well.

Harsh Thakkar: 9:34

I see. Okay, so that's where I was thinking, Did you when you were first doing these with your first set of users? Did you get a lot I'm sure you got a lot of questions around data security or data privacy. Can you walk me through how you you? What kind of questions did you get and how did you stabilize the platform to show that you're keeping the data secure?

Ivan Perez Chamorro: 9:58

When we started it was like a minimal let's say the MVP. So what we did is to put the platform at the very beginning. And we got a lot of feedback. So most of the times when you are close to the customer, you understand very well what it needs in terms of lightsabic security always like location in terms of as well access in terms of as well, many different types of backups. And other types of like it's covering, this ISO standards, socket standards, and so on. But it's very true when you actually work with manufacturers, or you work with consulting or experts. Each of them they have specifics that they need to be added as well. So you need to come as well with an open mind that depending on the on the customer, they may have specific information that they need. One of the key things for us is our platform, we don't send our data somewhere else. So it's our data. So that facilitates as well, that we as well. We don't have beyond usernames, emails, we don't have any other data they could be difficult to manage. So obviously in terms of the companies and organizations, we have a high security procedures and protocols for that.

Harsh Thakkar: 11:09

So I know you mentioned about regulatory intelligence and some of the challenges that you've encountered users and how they've explained to you. But if you are, if you were to think about the next 10 years, in the life sciences industry, what kind of challenges that you think will happen that you need to that you're already learning about them? Maybe you need to incorporate them into your product? So do you see any new challenges that the industry will face in the next 10 years in this area?

Ivan Perez Chamorro: 11:42

I don't like to plan that far. And the reason is, because things are changing very fast. And it is important to to, to plan more in the short term having a vision, we always joke internally that we have enough works for the next 5,10, 20 years, but we have this external joke inside, when we started that we're going to have a lot of a lot of work to do here. I think the challenges are going to come as new technologies or new regulations or as well, new social movements appear in the in the society. Two things are always a challenge is having good information, having trusted information you can look into five out 5000 years ago, you still have the same challenge, or even like talking with a neighbor, is this trusted information and is this true information I can trust. And the second thing is the adoption, we talk about the technology. And obviously you work in the same spectrum of the adopting technologies, adoption by humans. Many times you will have this experience I'm pretty sure you have a great idea, you have great technology, but the adoption actually is not happening. And what we see as well, the adoption with technologies it takes time. It takes as well, depending on the you have normally the early adopters, they go there very fast. But to roll out into more people is a bit more like time efforts. And you can see this in the digital health, everything, all the benefits, clear clear clear, but it's taking more time than thought as well, because we are all human. So I think that the adoption is always are a big important part. And obviously that's why it's so important to be close to the customer have a greater usability. So they don't feel actually that feels like a lack of effort. Sometimes companies saying to us come to us. So we had this, this program will actually is creating as more work. We don't want to be in that spectrum. We want to do whatever is possible for us to actually make things easier for the human.

Harsh Thakkar: 13:46

Okay, yeah. And your your team at Med board are the majority based in UK or you have people like remote all over the world.

Ivan Perez Chamorro: 13:56

We are fully remote company we weren't before covid. So that's that's something that all we wanted. The team is in the UK, Spain, Portugal, right now, we still have as well in the US and wherever they go back to work with us as well. So we are like fully remote, we are hiring as well. And what can I have a super talented. If I could choose the people to do this again, I will choose the same the same people like Javi, Steven, Pablo. Without them, this wouldn't be possible. And one of the things that we prove as well. We are fast developers. So they ask customers they ask for things and this is how we're growing customers they ask for specific features or content. And we actually develop that very quickly as well. So our customers and ourselves we feel we can do anything so it's just a matter of time, obviously a prioritization.

Harsh Thakkar: 14:54

So for for any other entrepreneurs who are listening to this, I don't know if they're building a SaaS product for Life Sciences or some other industry? How do you go about building the team, because I know you mentioned that if you got a chance to hire people, again, you would hire the same exact people. And that is a challenge for many entrepreneurs, they, they have, they're growing, they have a lot of opportunities within the company. But maybe they're struggling by hiring the right person. So any advice you have for entrepreneurs who are building a remote team and hiring people?

Ivan Perez Chamorro: 15:27

I'm not sure if I'm an expert hiring that I'm still learning as well. So it's a challenge, I think the main thing that we look after is culture, to all have the same values. And when you all have the same values, culture, you have incredible communication. And if that team is talented, then obviously everything is gonna work together. We know, we are not a big team and people with people think we are hundreds, when they see the platform, like how many hundreds people are working here? Like no, we are not that much. We're not that many, but when you have a really like core team with with those characteristics it's very important. One thing I would say as well is there is a huge component of luck, that you come across with somebody. And what I would say is you've recognized as someone who is very good, just go to talk to that person and and just speak about the project, the vision. And we'll see if that person wants to work in that project, then it's great.

Harsh Thakkar: 16:30

Yeah, I mean, it is a challenge, right? Like even for me, I'm in the consulting space. So just do or like professional services. But even in the consulting space, it's always challenging to find the right person for the right project. Because there's only so much you can read from a resume and find out. But the culture fit is so important. Because especially with remote, we don't. I have seven consultants on my team right now that are working on projects, and I've never met them face to face, right. But they're all doing really great work. And we've sort of established but the challenge sometimes becomes is that every person has a different style of working. So some people they like to text me and say, Oh, today I did this, or here's an issue. Other people, they don't say anything for a week, at the end of the week, they tell me like, Oh, I did this happen this week. So like, I have to always like adjust my style. But that's that's also one of the challenges I've seen is I cannot have just one style, and have people adopt that. That's big. That becomes a challenge for having a remote team. When you're not able to see the person, you're only relying on meetings or email or slack messages. And that's about it. Right. And then the timezone adds another huge wrinkle into this. So yeah, I mean, I don't think anybody's expert, but everyone has their own tips and tricks or what's working for them. I think having a good culture is definitely a non negotiable. Like if you find somebody who does that, I think you found the right people.

Ivan Perez Chamorro: 18:06

Yes, when you have like a core team of eight, nine people with the same core values, they are self-policing the whole group, because if someone else with a different culture comes in it's going to be very easy to identify the outer layer. So right it's a matter to have the right people from from the beginning. One thing I do is for the key positions, I meet the person face to face before even I hired like put to work remote. So I like to meet people face to face. And we keep ourselves meeting face to face as well. Like, whether we go to events, whether we do for another reasons or for people like steven that lives very close to me. So we go for dinner. And we don't talk about work. Although we end up talking about what's the next thing we're gonna do with search and so on. But it's just having that connection as well as it's important.

Harsh Thakkar: 18:56

Yeah, yeah, it is. Yeah. And that's why I'm making an effort to meet some of the people that I haven't met just because I want to have that connection, if you will just meet them and talk talk more about non work related stuff. Like we've talked before this show prepping for it, that I'm really passionate about AI and what it's doing in life sciences, the different types of use cases, I still hear most of the use cases in the preclinical or clinical or drug discovery or the early stages, not so many in quality and regulatory side of things. So I've worked got a chance to work with many clients to integrate AI, machine learning and no code into the quality QMS and quality management. You are doing it on the regulatory intelligence side. So I'm curious to know can you share examples of some of the features in med board where you integrated AI and how how did you think of the idea to integrate AI to those features? In those features

Ivan Perez Chamorro: 20:00

Yeah, absolutely, we naturally and where we talk about AI, we work in house with ordinary people doing AI. So we don't plug AI from that side. So we have a, we actually work with AI. The first example that we did is like three years ago, we created this MDR classifier, an IVR classifier, which was a short project where he was very, very interesting, because it gave us with a MVP the insight that we wanted, and actually, we got rid of that project after, and we continue with all the developments. The reason is, and you will, you're going to recognize this as well, we created this super cool MDR. So you would intend the views or any type of device, and it will give you the classification straight away? Right? What was happening is, when we made it public, the prompts from people that didn't know very well, what to put, they were not obviously very well defined. So he was not given the output they were expecting. And, and that was more than 90% of people. So when we talk about this type of technologies are chat gpt obviously, such a different level that what we were doing it was it was like a toy, but is that the limitation sometimes for those technologies is the ability for people to actually know what to inquiry to the machine. And then what we found as well is you have very, like huge expert on a specific topic. That tool is not enough wrangling because more than the machine. And the other thing that is very important to recognize the limitations is is quality and regulatory is very interpretive. Yeah, we we, we started with regulations, guidance STOs. Between experts, there's different interpretations, and so on. So what I'm trying to say with this introduction is we've been playing with AI for many years. Until now, now, what we how we see AI ecosystem is more like a co pilot that can help the users and the companies to make decisions. So we don't want to be the decision maker. But just given the different types of ratios like AI, we use for extracting the information, organizing the information, extract different types of information from clinical articles, for regulations, and so on. And then we are working as well with what we can do with generative, but we want to create, because our platform is evidence base. So every time we provide a piece of information we provide that link is how we can provide that information, but with a high trusted approach. And that's the key thing now with with AI I think that the possibilities is once that we have their structure with our platform, there are many actually uses for AI because they can automate or they can create different tasks depending on what actually is happening within the organization. Obviously, within the account or any updates, so we can trigger specific information or insights, a, I think we need to create a task because this is going to affect this, this, this and this. So actually it is going to be more like a copilots to give options to individuals. Sometimes. It's not about giving you the straight answer. And I think in quality and regulatory so difficult say this is why you need to enclose the AI just see like a small when we talk about AI some people think AI is like a magic wand and so on, actually is data solely depends so much on which data is using. So if, for example, the technology doesn't have access to some certain interpretation of data, or information or guidance is gonna give you an outcome that actually is not that real. So we need to be conscious as well, that especially in an area like regulatory quality, a lot of things are gray. And we need to help how to navigate the gray without imposing this is the gray.

Harsh Thakkar: 24:06

Yep, yep. Yeah, no, that's that's a very important point. Because I've come across working with many consultants and clients and projects. And you talk about a topic and like you said, it's all about interpreting or understanding the context. But in most cases, when you ask somebody, oh, how do we do x? Or how do we do Y? And there, they start their response by saying, it depends. They say the word it depends. There is no one answer. If and then they start explaining. So that's, that's one of the challenges of working in quality and regulatory because I could have three clients with the same issue. But their solutions are all different, right? Because one has something that the other doesn't have. And that's the nature of our job.

Ivan Perez Chamorro: 24:59

Exactly. And the context will be different. And as well, the history will be different. So maybe an auditor or someone external stakeholders say you need to do it this way. Right? So you have an AI that has been trained with a different feedback or information is going to go against what the auditor told you a few months ago. So that's the context is, Is that valid, so important, and as well, is what that model has been trained with, on so many times that model could be more the personality when we talk about, for example, oh this AI could do clinical literature review automatically. Yeah, but you spin trade with specific data for wound care. And, and has specific model that replicates one person, so you're gonna do exactly the same review all the time. And we are all humans are different. And that's why they choose you as a as a quality consultant. I know another because you have different train data that your train data is your experience. And as well how you achieve those, those milestones and projects. And your model is your personality and the way of doing things as well, so that they're thinking of we use just one way of doing things we're going to have as well, the same results. So I think the human touch is so important. So it's how we incorporate that as a co pilot, rather than just the main driver.

Harsh Thakkar: 26:25

Yes, yes. Yeah, AI is going to be definitely, like you said copilot in helping brainstorming of different solutions. But the human is the ultimate decision maker to say in my situation, or in our situation, this is the best solution. Because I don't think the AI is going to get to that point where, because it's it's going to give answers that are mostly generic, but it will it will help you get to that stage faster, like brainstorm faster. So yeah, I've seen that. I'm so glad that you came on this podcast, and you're talking about med board and what you're doing. What do you like outside? So this podcast is a great avenue for you to be sharing information about your story and stuff. But do you do like other community events or collaborations or interact with other industry experts or regulatory agencies? How do you what are your What are you up to these days?

Ivan Perez Chamorro: 27:23

Busy? So the first thing that as a CEO, my main, my main role that I'm playing in the in the company, so obviously, being close to the customers, so I'm still the one presenting the product, getting the questions, why? Because I can translate better those requirements through to the rest of the team. So my main focus is obviously being close to the customers understanding better what they need, and so on. Apart from that, yes, I'm collaborating as well with with agencies that they want to understand better, what is the global landscape, what are the changes, even like authorities they are struggling to keep up to date with what other authorities are doing. With industrialized issues, as well as sponsoring some master's degrees. So students, they want to graduate, so I'm their mentor in their in their course. So I tried to keep myself busy and kind of like give back as well. So in terms of the community of so I help different type of industries as the power of the supercommittee, and many others. So I tend to go to events and these need to as well overcome sometimes. So yeah, we try to go more to to a specific or to talk to podcast, or most of the time, you will find that myself, I work in trying just to help others within the community, as well, like see whether it could be certain collaborations that we can help. I think the ultimate goal for all of us is to make patients safer. So patient safety is the most important thing, right? Yeah, well, is how we can advance all together in terms of of that, so have like high quality systems, highlight intelligence, information, everything is going to be more transparent, everything is going to be safer for for the patients. So I think that if, if the other person or your collaborators are working towards the same goal, I tried to stretch myself and and tried to collaborate and help.

Harsh Thakkar: 29:15

That's, that's great. Yeah, I mean, being in being in life sciences, there's always this, you definitely want quality, product quality, you definitely want patient safety. Those are non negotiables. They're always there for any company, but at the same time with so much competition in our industry, there's also the need for speed, right? People want results faster. They want to move faster from phase one to phase two and so on. So it's really interesting like more companies like med board that are helping clients do things faster. Like you mentioned the example where a customer told you Oh, this took would take me three weeks when I was not using med Board, but now it takes me five minutes or 10 minutes. Right? So that's just one example. But there are many other software solutions like med board that have found one problem and tried to reduce the time to solve that problem. And I think we need more more companies like that, and people like you to build these tools and solutions.

Ivan Perez Chamorro: 30:22

Yeah, and I think if we all work together. I mean, in terms of making everything faster, more secure and safer for for all the stakeholders. I mean, all we win? Yeah, this problem is solved will be. You know, I painted I like painting. So I will be doing paint oil paint? Oh, yes. I think one of the key things as well for me is, when I had this, I always had this story as well, like the I was missing notes when I was 17, 18 years old, and so on. And it was no like, the, the doctor could not diagnose myself Is he didn't have access to information. And look, he didn't know that that injury existed. So he wasn't about how he had to choose between a and b, he didn't have that access to information to say, Okay, you have an achilles tendon, this could be a problem. And then this is one of the problems you may have. So I think, as well, we as humans, we have more access to trusted information. In all aspects in life, we're gonna make obviously better decisions. I think true. The key thing is to actually have trusted information. I think that's where the challenge, I always said, and I'm so happy as well with 100% retentions. And all these huge number of companies that we have, is because we are selling trust, that's that's what we're doing. They trust that they come to our place, and we have the information, that is trusted and they can find all the evidence related to that. So we all build that environment ecosystem, I think it's going to be good for, for professionals and eventually for patients.

Harsh Thakkar: 31:55

Yeah, absolutely. Yeah. Listen, this is this is really amazing. Thank you so much for taking the time to I know you're busy. Lots of things going on. But I'm, I'm glad we're able to have this discussion. For the audience listening, if they want to connect with you, or maybe look at the product, get a demo, what's the best way for them to get in touch with you,

Ivan Perez Chamorro: 32:17

Personally, LinkedIn, obviously, Ivan Perez Chamorro and through the company medboard.com And obviously fill in the form and anyone in my team will get back and we will have our meeting as I'm the first person to actually attend any one for or to listen to, what are their needs and so on. So those are the main ways to get in touch with with me as well.

Harsh Thakkar: 32:40

Okay, great. And are you going to any conferences where people can meet you in person? Do you have any upcoming conferences?

Ivan Perez Chamorro: 32:47

Yeah actually a busy October. So next week in Montreal in wraps then London AVHI. I'm speaking there as well. I'm very excited to be speaking there with great speakers and experts. And then I'm going to Lisbon for topra. And then I will go to medica in Germany. So this fall will be a bit busy. And yeah, so if anyone goes to those events, yes, feel free to get in touch with me.

Harsh Thakkar: 33:15

Yeah, I I had medica on my calendar, but with all the other conferences that I'm going to I'm not going to make it this year, but maybe maybe next year sometime.

Ivan Perez Chamorro: 33:26

It's a challenge sometimes, because there are so many events, so it's just pick, and choose aligning with the agenda. I like to work, of course, so I like to as well be in the office. Um, yeah. And I'm pretty sure you and I we will meet at some point in one of these conferences as well. It'd be a pleasure.

Harsh Thakkar: 33:45

Yep. Yeah. Thank you, Ivan. Do you want to have any final closing thoughts before we wrap this up?

Ivan Perez Chamorro: 33:52

No, just to say thank you so much for having me. I really enjoy it. And I can see I think as well for having these type of podcasts sharing information, strip sharing knowledge and as well making this more accessible to people.

Harsh Thakkar: 34:07

Yeah, thank you for your time, and it was great learning about your journey and about med board. Thanks.

Ivan Perez Chamorro: 34:12

Thank you so much. Thank you.

Harsh Thakkar: 34:16

Thank you so much for listening. I hope you enjoyed today's episode. Check out the show notes in the description for a full episode summary with all the important links. Share this with a friend on social media and leave us a review on Apple podcasts, Spotify, or wherever you listened to your favorite podcast.