INDIANAPOLIS--(YourEncore, a leading provider of expert solutions to the life sciences, food and consumer product industries, today announced the launch of a first-of-its-kind oncology prediction market. Now, pharmaceutical companies will have a fast and cost effective way to draw on the collective judgment of scores of leading cancer experts to forecast industry developments and make better business decisions.)--
“By offering a ready-made pool of the world’s leading oncology experts, we can cost-effectively provide accurate, detailed predictions that companies can act upon.”
“The cost of cancer drug R&D, trials and approvals is staggering,” said YourEncore VP for Life Sciences Lisa M. Arbogast. “Our oncology prediction market provides expert insights that can focus R&D programs and help pharma companies avoid costly failures.”
By subscribing, companies can ask questions of the market, obtain predictions from an expert group and access detailed comments from individual experts. Currently, more than 100 oncology experts – 90% of whom are PhDs or MDs – participate in the market, with additional cancer experts joining the program every week.
The process is open to any life sciences company seeking to:
- Evaluate product ideas from large groups of experts
- Anticipate competitive actions
- Size market opportunities
- Predict regulatory actions
- Make smarter oncology R&D and portfolio management decisions
“While prediction markets can be a very effective business forecasting tool, our new oncology market takes it to a new level,” said Dr. Alph Bingham, author, lecturer and director of YourEncore’s prediction markets program. “By offering a ready-made pool of the world’s leading oncology experts, we can cost-effectively provide accurate, detailed predictions that companies can act upon.”
“Life sciences companies are under increasing pressure from shareholders, regulators and the healthcare marketplace to improve the quality and quantity of drugs in their pipelines,” Arbogast said. “For companies developing cancer drugs, our oncology prediction market is a game changer.”
Indianapolis-based YourEncore accelerates innovation and growth for companies in the life sciences, food and consumer product industries. The company’s 7,000+ veteran-level experts include top-flight professionals, with an average of 25 years of industry experience. By providing perfectly-matched expertise and flexible solutions, YourEncore helps research, develop and commercialize products for Procter & Gamble, Lilly, Boeing, General Mills and nearly 70 other global Fortune 500 leaders. For more information, visit www.yourencore.com and follow facebook.com/yourencore.