Evidation Raises $45M to Expand Into Virtual Health
Evidation Health, which has created a digital health platform to help individuals participate in clinical research programs, has received $45 million in Series D funding.
The San Mateo, Calif.-based company plans to expand its platform, called Achievement, to include virtual health. The company said it would use this new capital to build upon its existing evidence generation capabilities to offer real-time insights and digital tools to its network of nearly 4 million individuals.
The company said it would leverage this investment to continue to grow its study solutions business and offer programs that enable Achievement members to gain clinically actionable insights into their health. This includes connecting relevant digital interventions, treatments, and tools to help individuals understand and take advantage of the latest evidence, in partnership with their care teams. The first of these new virtual health offerings is slated for release later this year.
Eight of the top 10 global biopharma companies rely on Evidation for person-generated health data (PGHD), including passive sensor data, electronic patient reported outcomes (ePROs), and at-home diagnostics. Johnson & Johnson, Apple, and Evidation recently launched the ongoing Heartline Study, the largest randomized trial in the history of cardiovascular disease. Evidation is also working with a cross-section of partners in industry, academia, government, and civil society, including the Icahn School of Medicine at Mount Sinai, the Biomedical Advanced Research and Development Authority (BARDA), and the Bill & Melinda Gates Foundation, on efforts to better detect, characterize and predict COVID-19 using PGHD.
Evidation also will continue to expand and diversify the Achievement population to serve additional at-risk and disease-specific cohorts.
“Participation in research is an activator for individuals to better understand their health and seek care proactively,” said Evidation CEO Deborah Kilpatrick, Ph.D, in a statement. “The natural next step for Evidation is to decrease the latency between evidence and action by offering virtual health programs, while still keeping privacy and consent at the forefront."
She added that Sam Marwaha, a pioneer in real-world evidence and an experienced digital health strategist and operator, will lead Evidation’s commercial strategy as it brings its new offerings to market.
B Capital Group led the round, which includes new investors McKesson Ventures and Section 32 as well as existing investors Revelation Partners, Rethink Impact, and SV Health Investors.
