Aetion, a healthcare technology company that delivers the real-world analytics and evidence platform needed to engage in value-based care, announced that it has attracted strategic investment from global leaders in biopharma and healthcare services, including McKesson Ventures; Sanofi; UCB; and Horizon Health Services, Inc., a Blue Cross Blue Shield of New Jersey company. These companies join existing venture capital partners who also participated in this round.
The $27 million funding round reflects Aetion’s substantial growth in customer adoption over the past year. Coupled with its prior funding in early 2018, the investment caps the total Series B funding at $63 million. The investment funds will be used to strengthen the Aetion Evidence Platform™, extending its reach in therapeutic area-related intelligence, outcomes-based contracting for payers, and advancing the acceptance of standards for real-world evidence around the globe.
“Aetion is poised to be the partner of choice for biopharma companies, payers, and regulators looking to leverage real-world evidence given its unique relationships across the healthcare ecosystem and its expertise in protocols and treatment-based analytics,” said Tom Rodgers, Senior Vice President and Managing Director at McKesson Ventures.
“The time for real-world evidence is now,” said Aetion Chief Executive Officer Carolyn Magill. “We’re entering a new era in which nearly the entire healthcare ecosystem—from biopharma and regulators to payers and technology companies—recognizes the importance of using real-world evidence to reduce the time and cost to bring new therapies to market. This funding demonstrates that the industry’s leaders, who are using our technology to drive healthcare’s most critical decisions, view Aetion as a trusted partner vital to their long-term success.”
Today, the Aetion Evidence Platform is used by eight of the top 15 global biopharma firms, leading payers, academic institutions, the U.S. Food and Drug Administration, and other major internal regulatory bodies. Since 2017, it has seen a 100-percent customer renewal rate. In 2018, Aetion began a partnership with the FDA to recreate 30 randomized clinical trials through real-world evidence, to demonstrate its value as an accelerant to drug approval and access decisions.
Read the full press release here.