- The MIT Laboratory for Financial Engineering (LFE) and Informa Pharma Intelligence have launched an initiative to provide timely and accurate estimates of the risks and benefits of clinical trials to the entire life sciences ecosystem.
Project ALPHA (Analytics for Life-sciences Professionals and Healthcare Advocates) aims to help investors, payers, regulators, and biopharmaceutical companies better evaluate the opportunities of biomedical research and development.
Project ALPHA’s first project will be the further development of clinical success rate metrics, based on algorithms developed by MIT researchers and published in Biostatistics in January 2018.
The article discusses Informa’s Citeline drug and clinical trial datasets and evaluates clinical success from pre-clinical to launch across nine therapeutic groups, offering the most comprehensive assessment on clinical success rates ever published.
LFE and Informa jointly developed the metrics, which will be made freely available.
“More accurate risk metrics will eventually lead to fewer big failures, faster approval times, cost savings to the entire healthcare system and more investment capital for developing breakthrough therapies, all of which means more, and better, therapies to patients sooner,” said Andrew W. Lo, Charles E. and Susan T. Harris Professor at the MIT Sloan School of Management and director of the LFE.
Project ALPHA will use an LFE-hosted website to distribute risk analytics and provide regularly updated aggregate clinical success rates and durations, as well as disaggregated estimates across trial features, including disease type, clinical phase, time, and lead indication status.
Informa will also make commercial datasets available to researchers through an academic licensing program and a research proposal review process. The organization expects that this will encourage additional analyses using the metrics and the data behind them.
“We're excited to be collaborating with Andrew Lo and the MIT Laboratory for Financial Engineering to leverage our data and biopharma expertise with their research capabilities in risk management and financial analytics,” said Mark Gordon, president of product & innovation in Informa's business intelligence division.