for the Period Ended 30 November 2023
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Additional notes | |
Community Interest Report |
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The notes form part of these financial statements
The directors have chosen not to file a copy of the company's profit and loss account.
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 November 2023
Basis of measurement and preparation
for the Period Ended 30 November 2023
2023 | 2022 | |
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Average number of employees during the period |
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During the financial year 2022-2023, OpenPIL CIC continued its mission to utilise artificial intelligence to make medication information freely accessible and more reliable. Following the successful projects from the previous year, OpenPIL CIC entered into an agreement approved by the CIC regulators for the sale of its rule-based medication information extraction algorithm to Doses AI, a limited company. This transaction marked a significant step in advancing our goal of improving access to comprehensive clinical drug information. Doses AI, leveraging the algorithm acquired from OpenPIL CIC, presented a research poster at the Health Text Analytics Conference 2023 (HealTAC 2023) in Manchester. The poster highlighted the potential for combining rule-based approaches with large-language models to enhance the accuracy of medication information retrieval from official drug documents, such as the “Summary of Product Characteristics” documents. As part of the agreement, Doses AI committed to providing OpenPIL CIC with free access to the developed drug data extraction tool for a minimum period of five years. At the end of the 5th year, Doses AI will review OpenPIL’s need for the software (based on any relevant changes to mission and finances). This tool will be instrumental in advancing our efforts to develop the world’s first open-source clinical drug database, furthering our mission to democratise access to vital medication information. Doses AI is currently exploring collaborations with an academic institution and a technology company to bring this tool to fruition, which will directly benefit OpenPIL CIC and the broader community.
No consultation with stakeholders
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
30 August 2024
And signed on behalf of the board by:
Name: Malik Ahmed
Status: Director