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American-Israeli startup PhaseV (opens in a new tab) 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 (opens in a new tab) 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.
PhaseV is using machine learning to optimize the clinical trial process. PhaseV Cofounders CEO Raviv Pryluk and CTO Elad Berkman are both Technion alumni.