Corval today announced the launch of its cloud-based commercialization planning platform designed for early- to mid-stage biopharmaceutical companies. Created by industry experts, Corval offers a technology-based approach that expedites the commercialization planning process and supports teams with critical expertise that small teams often lack.
Proper early-stage commercialization planning has a lasting impact on a product’s launch and long-term market success. According to a recent Deloitte study, almost 70 percent of products that miss their first-year launch expectations continue to do so in subsequent years, whereas almost 80 percent of those that meet or beat first-year expectations continue to do so thereafter, highlighting the importance of thorough commercialization planning and the narrow opportunity to set the right trajectory at launch. Despite the critical nature of proper commercialization planning, most early- to mid-stage companies find the process as it exists today is complex and daunting, takes many months, requires outside resources and risks missing critical steps along the path to market.
Corval’s cloud-based platform streamlines the commercialization planning process and dramatically reduces the time and external resources it takes to build a strategic, tactical, and resource plan to chart the path to market. Corval produces a multi-year customizable commercialization plan that includes a detailed roadmap of the strategic objectives and tactical plans necessary to commercialization an asset. It also develops a schedule of resources and headcount required to support the tactical plans, answering the key questions of how much investment is required and when. Corval also offers a single workspace for commercial teams to align on key assumptions and strategic objectives and ensure they hit every critical step on the path to market.
Corval was founded by Sue Nemetz, a proven leader and successful entrepreneur in the life science industry. Sue also leads The NemetzGroup, a strategic commercialization consultancy that has been instrumental in supporting over 100 biopharma companies and the development of numerous assets from targets to approved, life-saving treatments. Corval is built upon these decades of comprehensive commercialization experience and over 75,000 data points that allow the platform to support the entire development timeline, from pre-clinical through launch, and accommodate the unique circumstances of each asset’s commercial strategy.
“Throughout my years of consulting, I’ve been exposed to the numerous challenges early- to mid-stage biopharma companies face, including the way that their lack of in-house expertise and resources can bump up against the overwhelming need to deliver a commercial plan,” said Nemetz. “I knew there was a place for technology to bear much of that burden and free commercial leaders to focus on the work of getting treatments to patients in need.”
“As a firm believer in early commercialization planning, the value of Corval was immediately clear to me. Corval allowed our newly formed team to quickly align on key assumptions and strategic decisions, and hit the ground running with clarity and confidence on the road ahead,” said Kerrie Brady, CEO of OcuTerra, a clinical-stage biopharmaceutical company. Corval is currently serving companies in its Early Adopter Program, which provides the opportunity for customers to create the customized multi-year commercialization map, budget and resource plan, and get hands on support from Corval’s commercialization experts at a deeply reduced price.