Using network analytics to uncover a new nine-figure licensing opportunity and a potential blockbuster drug
Selecting advisors to drive research breakthroughs
A small, US-based biopharmaceutical firm wanted to convene an advisory board of gastroenterology experts to advise on the development, marketing, and release of a promising new drug. Their objectives included:
- Determine their go-to-market strategy
- Determine and build out their field team
- Identify licensing opportunities
- Engage new experts to increase their pre-launch footprint
The team used Within3’s insights management platform to identify experts to participate in the advisory board. Within3’s comprehensive data set includes scientific, US treatment, social, and transparency data and uses network analytics capabilities to help identify and engage key opinion leaders within a specific disease community and experts from other therapeutic areas.
Because Within3’s proprietary network analytics draw connections between stakeholders beyond simply the first or second degree, teams can identify the hidden influencers whose insights drive success at every stage of the drug development process, even if they fall outside of traditionally considered parameters. Individuals identified by the proprietary Within3 technology receive a score based on the strength of their connections and influence, helping life science teams determine who offers the best potential value in a specific situation.
In this case, the client team discovered several key opinion leaders from fields of medicine outside gastroenterology, including a respirologist. None of these KOLs would otherwise have been considered to sit on the board. By engaging these previously unfamiliar experts, the team could bring fresh perspectives to the table – and unlock some key insights. The respirologist recognized that the molecule showed significant activity in the treatment of a different, unrelated condition and under further investigation, revealed a promising and wholly unexpected out-licensing opportunity.
Thanks to the insights provided by this previously overlooked KOL, the biotech team unlocked a high nine-figure out-licensing opportunity that hadn’t been considered, leading to the development of an extremely rare potential blockbuster drug.
Trial data suggest that the drug could emerge as a best-in-class solution for the condition, significantly improving patient outcomes for in excess of 10,000 patients annually. The development of the drug led to the company being acquired by a major pharma company in a lucrative ten-figure merger.