PhaseV – a pioneer in causal machine learning (ML) technology that optimizes clinical trial design and analysis – recently announced 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 study estimated the average cost of developing a new drug at $2.3 billion in 2022, with an average 7.1-year deployment time (Deloitte). And the vast majority of drug candidates do not reach the finish line, and many fail the clinical phase even though the biology works.
PhaseV addresses this challenge by leveraging proprietary ML technology that provides clinical development teams an advanced ability to analyze retrospectively and optimally design studies and adapt in real-time throughout the trial. And 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.
PhaseV provides two distinct service lines for AI clinical trial optimization. And the first includes assessing the potential impact of adaptive trial design on the proposed study, followed by optimal design and execution.
The second involves retrospective analysis that detects hidden signals in clinical trial data and evaluates endpoints and subpopulations to redefine the success or failure of a trial. Utilizing a wide range of parameters, this multifaceted approach is also valuable for drug repurposing efforts. The company’s approach has proven valuable in various therapeutic areas, including oncology, endocrinology, autoimmune diseases, rare diseases and more.
PhaseV was founded by Elad Berkman and Dr. Raviv Pryluk, graduates of the top technological and academic programs in Israel with strong track records of successfully collaborating on seemingly unsolvable challenges. Before founding PhaseV, they managed large multidisciplinary groups in leading tech companies, with practical experience implementing advanced machine learning, causal inference, and software development at scale. Dr. Dan Goldstaub, who previously managed clinical trials at Teva and MSD, joined the company as a scientific co-founder.
PhaseV’s scientific advisory board includes leading figures in the medical and biostatistics community – who specialize in new methods and advancements in adaptive clinical trials, and big pharma and biotech veterans. Dr. Brad Carlin (author of Bayesian Adaptive Methods for Clinical Trials) and Dr. Sofia Vilar (a leading researcher of adaptive clinical trial optimization at the University of Cambridge) are among them, together with Dr. Murray B. Urowitz, Dr. David Perry, Dr. Marcia Levenstein, and Dr. Howard Trachtman.
KEY QUOTES:
“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. PhaseV has demonstrated its technological prowess and commitment to reshaping the landscape of clinical trial design and analysis to ensure that promising drugs reach their full potential.”
— Noam Ohana, Managing Director at Exor Ventures
“Our platform excels at uncovering hidden signals in clinical and real world data, enabling us to analyze a multitude of covariates using causal-ML to evaluate the most advantageous next steps and decisions in the clinical development process. This investment provides us with the resources to further advance our platform and expand our reach to additional pharma, CRO and biotech companies in Europe and the U.S., bringing new needed treatments to patients.”
— Dr. Raviv Pryluk, CEO and co-founder of PhaseV
“PhaseV played a vital role in the analysis of our Phase 3 trial in the US, ORA-D-013-1, for the treatment of type 2 diabetes. The analysis found subpopulations of patients that responded very well to oral insulin.”
— Dr. Miriam Kidron, CSO at Oramed; Oramed Pharmaceuticals, a protein oral drug platform, is one company that has utilized PhaseV’s retrospective services.
“Over the last decade, new technologies have disrupted the way drugs are discovered, but unfortunately the drug development and clinical trial process has largely lagged behind. With precision medicine widely acknowledged as the next frontier, drug development stands to gain tremendously from personalized technology capabilities that have proven successful in other industries. We are excited by the promise of PhaseV, combining advanced algorithmic capabilities with drug development expertise to facilitate an important change in the pharma and biotech industries.”
— Zvika Orron, general partner at Viola Ventures
