PhaseV Raises $15 Million to Push the Boundaries of ML for Clinical Trial Optimization

Clinical Trial Platform Uncovers Hidden Signals and Optimizes Next Steps for More Adaptive, Successful, and Efficient Clinical Trials PhaseV, a pioneer in causal machine learning (ML) technology that optimizes clinical trial design and analysis, announced today that it has raised $15 million in funding, led by Viola Ventures and Exor Ventures, including participation from LionBird and a group of prominent angel investors. A recent Deloitte study estimates the average cost of developing a single new drug at $2.3 billion in 2022, with an average 7.1-year deployment time. Moreover, the vast majority of drug candidates do not reach the finish line, and many fail the clinical phase even though the biology works. PhaseV tackles this challenge by leveraging proprietary ML technology that provides clinical development teams an advanced ability to retrospectively analyze and optimally design studies, as well as adapt in real-time throughout the trial. This ML-driven adaptive process can significantly accelerate the clinical drug development process and increase certainty along the way, resulting in more efficient, targeted, and ultimately more successful clinical trials. “Clinical trials are the most time-consuming and costly stages of drug development, and many trials fail due to inherent uncertainties and complexities in trial design and execution,” said Noam Ohana, Managing Director at Exor Ventures, “PhaseV has demonstrated its technological prowess and comm...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT Deloitte Dr. Brad Carlin Dr. Dan Goldstaub Dr. David Perry Dr. Howard Trachtman Dr. Marcia Levenstein Dr. Miriam Kidron Dr. Murray B. Urowitz Dr. Raviv Pryluk Dr. Sofia Vilar Elad Berkman Exor Vent Source Type: blogs