An AI Firm Wants to Predict Costly Pharma Flops - (Bloomberg via NewsPoints Desk)

  • Innoplexus is developing an algorithm that aims to predict the outcomes of clinical studies, Bloomberg reported Thursday.

  • Although analysts had anticipated annual revenue of $3.7 billion for Biogen's investigational Alzheimer's disease drug aducanumab by 2023, a tool developed by Innoplexus correctly predicted that a key clinical trial was likely to miss its mail goal.

  • Innoplexus' learning software can search up to 5 billion web pages a day to assess the probability of positive results for clinical studies.

  • In a retrospective analysis of 20 000 studies, the artificial intelligence firm found that that the algorithm successfully predicted the outcomes of 85 percent of trials, including the failure of a Bristol-Myers Squibb lung cancer trial and a successful Johnson & Johnson myeloma study.

  • To bolster its dataset, Innoplexus has encouraged researchers to share unpublished findings as well as data awaiting publication.

  • The company previously secured $11 million in a round of financing that could ultimately reach $30 million, which would give the firm a valuation of $80 million.

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