Drug development is very time-consuming and expensive. On average, developing a new drug takes 10 years and costs around $2 billion. Also, many candidate drugs fail to gain regulatory approval, due to concerns about efficacy or safety. These huge costs are ultimately passed on to consumers.
At CoolClinical we have demonstrated, for the first time, that AI can predict responses to drug treatment, even two years in advance. This means that a drug company could include only 'good responders' in a clinical trial. If the same selection procedure is used in the real world, efficacy and drug safety could be dramatically improved. This could increase the chance of regulatory approval, improve patient care and also give a competitive advantage.
We are currently discussing with regulators how such principles could be implemented.