The development and optimization of the drug development path is an important part of creating a compelling value story; both the TPP and eNPV are vital tools in this process. The eNPV metric allows organizations to align business drivers with the product goal. The next step is the choice of the development path, which relies on trade-offs. Once these factors have been determined, the final step is persuading the stakeholders to agree on the right path by using informed and data-driven decisions.
Finding a promising lead drug candidate is an important moment to celebrate; it's the initial step on the route to market and to improving patient outcomes. However, it is just the beginning. The next step – drug development – is your opportunity to learn about your drug’s clinical profile in patients. It will also showcase to investors that your drug candidate has the potential to meet patients’ unmet needs and see success in the market.
Embarking on a drug development program is lengthy and costly, and emerging biopharma companies need to get their candidate on a development path offering the highest opportunity for success: to generate the right data at the right time, attracting investors and continuing that momentum through clinical development.
The TPP, CDP and eNPV are not only important to investors, but for alignment of your own development team. It is also the base for creating the clear product vision that underpins the value of the drug to the patient, the physician and the payer. Creating a realistic and robust value story will improve the chance of successfully funding your development program and gaining approval of your drug.
The first task is creating a product value and vision, the process of which can be broken down into three essential elements.