How biotechs can strengthen their value story with advanced analytics
Small and emerging companies must make big decisions about what to do with their assets early in development. Should they seek venture capital (VC) funding to develop a product themselves or seek a partner once it shows clinical activity? They need to know their product candidate’s value and commercial viability to make the right decision, including the market size, growth and revenue potential.
Recent advances in machine learning and predictive analytics have empowered health economics and outcomes research (HEOR). Sophisticated tools are now available to help build a data-driven value story that can help attract investors and partners, convince payers, and benefit patients. Here are five ways biotech companies can enhance their value story with advanced analytics.