The clinical trial is a critical stage of drug development workflow, with an estimated average success rate of about 11% for drug candidates moving from Phase 1 towards approval. Even if the drug candidate is safe and efficacious, clinical trials might fail due to the lack of financing, insufficient enrollment, or poor study design. [Fogel DB. 2018].
Artificial Intelligence (AI) is increasingly perceived as a source of opportunities to improve the operational efficiency of clinical trials and minimize clinical development costs. Typically AI vendors offer their services and expertise in the three main areas. AI start-ups in the first area help to unlock information from disparate data sources, such as scientific papers, medical records, disease registries, and even medical claims by applying Natural Language Processing (NLP). This can support patient recruitment and stratification, site selection, and improve clinical study design and understanding of disease mechanisms. As an example, about 18 % of clinical studies fail due to insufficient recruitment, as a 2015 study reported.
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Topics: Biotech Companies