What You Should Know:
– PhaseV, a company at the forefront of applying artificial intelligence (AI) and machine learning (ML) to clinical development raies $50M in Series A funding round co-led by Accel and Insight Partners, with participation from existing investors Viola Ventures, EXOR, and LionBird. This round brings PhaseV’s total funding to date to $65M.
– The new capital is earmarked to fuel PhaseV’s mission to support pharmaceutical companies, biotech firms, and contract research organizations (CROs) in leveraging AI and ML to enhance the efficiency and success rates of clinical trials.
Addressing a “Critical Crossroads” in Clinical Development
The pharmaceutical industry faces mounting pressure to accelerate drug development, reduce substantial costs, and improve the historically low success rates of clinical trials. Traditional methodologies are increasingly struggling to meet these evolving demands.
“The pharma industry is at a critical crossroads, as traditional approaches to designing and executing clinical trials struggle to meet growing demands for speed, cost-efficiency, and higher success rates,” said Raviv Pryluk, PhD, CEO and Co-founder of PhaseV. “This funding fuels our mission to support more pharma, biotech, and CROs in embracing AI and machine learning to unlock the next era of clinical development. Our solutions deliver clear ROI by increasing trial success rates, reducing costs, and accelerating time to market.”
PhaseV’s AI Platform: A Holistic Solution for Modern Trials
PhaseV is developing a vertical AI platform designed to provide comprehensive solutions across the entire clinical development lifecycle, from initial design through to execution. The platform has already seen rapid market adoption, with over 30 global pharmaceutical companies utilizing its AI/ML capabilities across more than 20 therapeutic areas, including neurology, oncology, GI disorders, immunology, metabolic diseases, and rare diseases.
Augmented by a robust data lake that integrates high-quality patient-level data, clinical trial results, real-world evidence, and peer-reviewed insights, PhaseV’s platform currently comprises four core applications:
- Trial Optimizer: For designing and implementing more efficient Bayesian, adaptive, and fixed clinical trials.
- Causal ML: Employing heterogeneous treatment effect estimation to uncover hidden signals in clinical data, identifying patient subpopulations and endpoints with the highest potential for success.
- Causal Disease Modeling: To inform new research and development strategies and support life cycle management for therapies.
- Clinical Operations: Utilizing Causal ML for data-driven site selection, analyzing site performance, real-time trial progress monitoring, and integrating virtual control arms.
Demonstrated Impact: Boosting Efficiency and Success Rates
PhaseV reports that its platform has demonstrated significant improvements for its clients, including a potential reduction in trial costs by 50%, a decrease in patient enrollment size and trial duration by 40%, and a more than 30% increase in the likelihood of trial success. In a recent notable case, PhaseV assisted a leading global pharmaceutical company in shortening its time-to-market by an impressive 15 months.
