Investor Relations

TROY, Mich., Aug. 25, 2020 (GLOBE NEWSWIRE) -- Altair (Nasdaq: ALTR), a global technology company providing solutions in product development, high-performance computing (HPC), and data analytics, has joined the Avicenna Alliance, an international consortium committed to the use of simulation to enable faster and more efficient development of new medicine and healthcare solutions.

“It’s time to take healthcare development into the digital age. We are excited about the opportunity to make a positive contribution to the work of the Avicenna Alliance, which offers the prospect of more affordable, effective, and efficient delivery of new diagnostics, medicines, and medical devices,” said James Scapa, founder and chief executive officer of Altair.

Traditionally, development of new medicines and medical devices has involved extensive testing on people, and often included major investments in products that ultimately fail. Even when successful, the process is lengthy and expensive. In contrast, computer-based simulation facilitates intelligent use of historical data and early identification of the efficacy of proposed treatments. In addition, as a result of the work done by Altair and other members of the Avicenna Alliance, the ethical and logistical challenges of testing experimental drugs on large numbers of people are minimized or eliminated. 

Established in 2016, the alliance brings together stakeholders in industry, government, and academia to promote the benefits of ‘in silico’ medicine to overcome the prohibitive costs and delays often associated with conventional pharmaceutical trials, testing, and medical device development.

Altair will bring its expertise and experience in advanced simulation and data analytics to the pioneering work of the Avicenna Alliance. Notably, this includes promoting governments worldwide to recognize and support ‘in silico’ medicine, and seeking to establish a common, standardized framework for this compelling approach to healthcare delivery. 

“The need for faster development of innovative healthcare solutions has never been more apparent. We warmly welcome Altair as a new member of the Avicenna Alliance,” said Thierry Marchal, Secretary General of the Avicenna Alliance. “In particular, we look forward to the valuable insight Altair can offer in terms of applying advanced simulation and data analytics to rapidly resolve the most complex scientific challenges.”

More information about the Avicenna Alliance can be found at: www.avicenna-alliance.com.

About Altair (Nasdaq: ALTR)

Altair is a global technology company that provides software and cloud solutions in the areas of product development, high performance computing (HPC), and data analytics. Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com.

Source: Altair Engineering Inc.