Project ALPHA (Analytics for Life-sciences Professionals and Healthcare Advocates) is an initiative of the MIT Laboratory for Financial Engineering with the main objective of providing more timely and accurate estimates of the risks of clinical trials and related metrics (see “Related Research” below). By providing greater transparency to drug developers, investors, policymakers, and patients regarding the risks of biomedical R&D, we hope to allow all stakeholders to manage their resources more efficiently, leading to fewer failures, faster drug approval times, a lower cost of capital, and more funding for developing new therapies.
As part of Project ALPHA, the LFE will distribute its analytics via a publicly-available website currently under development. The first set of metrics will be based on algorithms developed by LFE researchers, including aggregate clinical success rates and durations and disaggregated estimates across trial features such as disease type, clinical phase, time, and lead indication status.
We expect to launch the website in November 2018. Please check back for updates.
- Estimation of clinical trial success rates and related parameters, Chi Heem Wong, Kien Wei Siah, and Andrew W. Lo, Biostatistics, 2018, kxx069.
- Machine-Learning Models for Predicting Drug Approvals and Clinical-Phase Transitions (Working Paper), Andrew W. Lo, Kien Wei Siah, and Chi Heem Wong, 2017.