This week’s Chart of the Week attempts to communicate the correlation between a Company’s Precision Medicine Score and the Company’s Phase 3 Likelihood of Approval (LOA). This chart depicts how as a company increases their Precision Medicine Score, they will also see an increase in their likelihood of approval.
This preliminary research measures the correlation and relationship between the in-depth and calculated Precision Medicine Score for a given company and the likelihood of a drug being approved. The Precision Medicine Score takes into consideration several factors including but not limited to their utilization and optimization of biomarker use. The use of Biomarkers in the research and drug development process is becoming more and more essential to a company’s process in overall drug development and approval rates. Biomarkers come largely into play in Phase 3 as the early phases are more revolved around efficacy and safety. That is why Phase 3 is analyzed in this study as biomarkers become most apparent in their effects on approval rates during Phase 3. This study reveals a trend that demonstrates how increasing your Precision Medicine Score will result in increased accuracy in the research and discovery process and therefore higher approval rates for drug development. Increasing your likelihood of approval will not only give you more approved drugs, but will save you a time and money on projects that do not reach approval.
The Precision Medicine Score is determined from a complex calculation taking into consideration several facets of a company’s success, use of biomarkers, overall growth and many more aspects. This score is meant to determine one’s ability to form their drug discovery process around customization to their intended targets through precision medicine. The likelihood of approval is determined from BiomedTracker database.
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