March 12, 2007
Teranode
Joseph Duncan
CEO
How has your company adapted and responded to the changing economic climate in the past five years when so many others companies did not?
Teranode adapted to the changing climate by creating informatics that support open innovation. Many existing informatics companies attempt to lock customers into proprietary architectures and systems, which fragment rather than unify scientific disciplines and knowledge. Teranode has been successful in leveraging open Web standards to expand the impact of informatics on drug discovery within and across companies.
What is your vision for the future of the life sciences market over the next several years?
Life science R&D has hit a tipping point in its transformation both in business and scientific terms. Business trends such as offshoring of R&D, investment of repatriated earnings, venture capital investments, and biotech alliances are clear signals that companies are looking for innovation beyond their internal laboratories. Scientific advances such as biomarkers, system biology, and scalable automation are paving new opportunities and techniques for each phase of R&D. Taken in combination, life science R&D will tackle the long-debated productivity question and transform from a vertically integrated function within a company into a multi-organization innovation network.
What products and services does your company provide and what special capabilities do they offer the life sciences market?
Currently, Teranode provides Teranode XDA, a data and workflow management application for automating laboratory processes. Teranode XDA is unique in its ability to accommodate changing assay designs without requiring changes to the system. The flexibility and adaptability accelerates time-to-results and consequently accelerates the drug discovery process. Additionally, Teranode XDA is built on open Web standards to easily integrate with instruments and applications across the enterprise.
Partnerships are an effective way to track life science advances and ensure that your company delivers timely products and services. Which life sciences companies or organizations have you partnered with or invested in and why?
Teranode has partnered closely with its customer base. Our belief is that there are many visionaries across the industry with whom we can exchange ideas and advance best practices. We will continue to build our network of collaborators and develop innovative solutions to some of the most challenging informatics issues.
What are your most exciting products and initiatives in development, and how will they improve life science research?
Teranode is working on technology that helps manage scientific processes across laboratories. As projects rely on a broader range of collaborators, they are looking for solutions that can help them integrate their results with the minimal amount of overhead. The new Teranode product will serve as a hub and be a key enabler for companies to communicate within their innovation network.
Where do you see your company in five years?
We have ambitious business goals for Teranode, but we also realize that no one can predict with confidence a five-year view. Teranode is confident that we will remain close to our customers; seek out the best and brightest personnel; leverage the transformative power of the Web and SaaS; and produce lasting positive effect on the discovery of new drugs and therapies through innovative products.