LONDON & BOSTON & TOKYO--(BUSINESS WIRE)--Evaluate Ltd., the leading provider of commercial intelligence to the pharmaceutical industry, today released its latest data breakthrough, Product Specific PTRS, as part of its commitment to transforming the way biopharma companies and their advisors manage the risks of novel drug development.
Product Specific PTRS (probability of technical and regulatory success) is the first fully transparent, product-level assessment of the likelihood a drug will reach the market. Covering all NMEs and NDAs currently in clinical development, Product Specific PTRS combines a machine learning platform with an analysis of over 50 drug, company and market attributes and 30,000+ historic phase transitions. As a result, Product Specific PTRS predicts a drug’s probability of success based on its individual characteristics, substantially improving on the accuracy of general industry or indication success rate benchmarks.
“Machine-learning models offer unprecedented accuracy, given the high number of attributes they can factor into their calculations,” said Jon Moser, Head of Product Development. “However, they lack the transparency needed by biopharma executives to evaluate the drivers of risk. Our unique model combines the accuracy of machine learning with a detailed breakdown of the product-level attributes that improve or degrade a product’s risk profile.”
“With only 51% of novel phase three clinical products obtaining FDA approval, and the significant costs of a phase three program, drugmakers are under more pressure than ever to make sound, evidence-based decisions on how to invest in their pipelines,” said CEO Deborah Kobewka. “As part of our EvaluatePharma Vision platform, Product-Specific PTRS is the latest effort to support companies managing clinical portfolios in light of rising development costs and increased pricing concerns.”
Key Product Features:
- Unique risk calculations at the product level allow for differentiation between similar products or streamlined risk analysis across a portfolio.
- Detailed risk audits show the individual factors that have the greatest influence on a product’s probability of success, as well as the relative impact of each factor.
- Probability of success available for products with novel mechanism of actions or indications without previous approvals, removing limitations created by traditional success rate benchmarks.
- Fully integrated with EvaluatePharma Vision commercial and development data, including net present value, product-level R&D costs, clinical timelines, consensus sales forecasts and more.
Learn more about Product Specific PTRS, EvaluatePharma Vision, and how Evaluate increases confidence in strategic decisions at www.evaluate.com.
About Evaluate Ltd.
Evaluate provides trusted commercial intelligence for the pharmaceutical and medical device industries. Our EvaluatePharma® and EvaluatePharma Vision online subscription services provide a seamless view of the past, present and future of the global pharmaceutical market in a single, standardised platform.
Vantage – our award-winning, independent editorial team – provides thought-provoking news and insights into the current and future developments in the industry.
Evaluate has been a partner to industry-leading organisations for over 20 years. For more information on how we give our clients the time and understanding to drive better decisions, visit www.evaluate.com.
Follow us on Twitter: @EvaluatePharma, @Vantageanalysis