LONDON AND BOSTON – June 21, 2023 – Evaluate, a Norstella company, today announced that its Evaluate Omnium intelligent forecasting solution has been selected as winner of the ‘Best Decision Management Solution’ award in the sixth annual AI Breakthrough Awards programme conducted by AI Breakthrough, a leading market intelligence organisation that recognises the top companies, technologies and products in the global Artificial Intelligence (AI) market today.
Evaluate Omnium helps pharma companies, developers and investors to assess and forecast the commercial potential of drugs by giving users an unprecedented view of both the predicted risk and return of pharma assets in all phases of clinical development. The result is unparalleled insight into drug portfolio potential at a product-specific level, including early-stage and privately-owned drugs.
Evaluate Omnium’s forecasting methodology considers the past, present and future drivers of commercial and clinical success in real time. It is powered by machine learning and predictive analytics that allow complex real-world clinical development and commercial questions to be addressed dynamically. It can analyse millions of historical clinical and commercial events for pharmaceutical intelligence generation.
“The pharmaceutical industry is driven by its R&D pipeline and evidence-based forecasts are essential for successful planning, investment and portfolio prioritisation,” said Mike Gallup, CEO of Norstella, Evaluate’s parent company. “We are extremely proud that Evaluate Omnium is being recognised by AI Breakthrough. By increasing the availability and accuracy of risk and return insight, we’re helping pharma, life science companies and investors to deliver life-changing therapies from pipeline to patients.”
The mission of the AI Breakthrough Awards is to honour excellence and recognise the innovation, hard work and success in a range of AI and machine learning related categories, including Generative AI, Computer Vision, AIOps, Deep Learning, Robotics, Natural Language Processing, industry specific AI applications and many more. This year’s programme attracted more than 3,200 nominations from over 20 different countries throughout the world.
“The costs associated with drug development are among the highest of any industry in the world. Inaccurate risk assessments and poor strategic decision making can cost the industry billions of dollars each year,” said James Johnson, managing director, AI Breakthrough. “We’re pleased to award Evaluate Omnium with ‘Best Decision Management Solution’. The solution dramatically increases the ability of pharma companies to make informed, accurate decisions about risk and return, while gaining a clear view of the probability of technical and regulatory success, and commercial opportunity.”
About Evaluate Ltd
Since 1996, Evaluate, a Norstella company, has provided the life sciences industry with the data, insight and intelligence to facilitate confident decision making on high-value investments in treatments and markets. We enable our clients to embed our proprietary and industry data into their workflows, tools and processes so they can work more effectively and efficiently. For more information about Evaluate, visit www.evaluate.com and follow us on LinkedIn and Twitter.
Norstella consists of several prominent pharmaceutical solutions providers—Citeline, Evaluate, MMIT, Panalgo, and The Dedham Group. United by a shared mission, to help patients gain access to life-saving therapies. Norstella offers comprehensive insights throughout the drug development lifecycle, leveraging unparalleled data, cutting-edge technology, and expert insights and consultancy. For more information, visit Norstella and follow on LinkedIn.
About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards programme is devoted to honouring excellence in Artificial Intelligence technologies, services, companies and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including AI Platforms, Robotics, Business Intelligence, AI Hardware, NLP, Computer Vision and more. For more information visit AIBreakthroughAwards.com.