American-Israeli startup PhaseV is on a mission to overcome one of the most significant challenges of drug development: the clinical trial phase, the longest and most expensive part of the process.

A recent Deloitte report reveals that, on average, a single new drug takes $2.3 billion and seven years to develop.

Yet many candidates fail the clinical phase even if the biology works. That makes for a poor return on investment and wasted potential for treating diseases.

“The development process for new drugs must therefore be transformed and could be made much more efficient with digital technologies,” the report urges.

Raviv Pryluk and Elad Berkman founded PhaseV in January to do just that, combining their experience in designing, executing and analyzing experiments with the latest AI and machine-learning capabilities.

“We want to improve the world by helping to bring new medications and treatments to patients who need them,” says Pryluk.

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PhaseV is using machine learning to optimize the clinical trial process. PhaseV Co-founders CEO Raviv Pryluk and CTO Elad Berkman are both Technion alumni.