UNITED KINGDOM — AstraZeneca has unveiled its new health-tech venture, Evinova, with a mission to enhance healthcare professionals’, regulators’, and patients’ experiences through innovative digital health solutions.
Evinova’s primary focus is to optimize clinical trials for biotechnology companies, pharmaceutical firms, and contract research organizations (CROs), aiming to streamline the development of new medicines by reducing time and costs.
Evinova has already secured partnerships with prominent entities in the industry, including Parexel and Fortrea, two CROs that will offer Evinova’s digital health solutions to their clientele.
Additionally, Evinova has joined forces with Accenture and Amazon Web Services to accelerate industry adoption and expand the global reach of its digital products.
This move by AstraZeneca aligns with a broader trend among major pharmaceutical companies to create specialized divisions or businesses to address specific industry needs.
Evinova is positioned as a separate health-tech business within AstraZeneca, offering services in three key categories: unified trial solutions, study design and planning, and portfolio management.
In the realm of unified trial solutions, Evinova aims to collect clinical trial data, including novel digitally-enabled endpoints, from various sources such as connected medical devices and sensors at trial sites and patients’ homes.
The solutions also support telehealth, remote patient monitoring, and direct-to-patient medicine delivery.
For study design and planning, Evinova leverages cutting-edge technologies like artificial intelligence and machine learning algorithms to design more optimal trials.
These technologies quantify various characteristics, from a study’s environmental impact to its effect on the patient experience.
The portfolio management services offered by Evinova provide a comprehensive view of a client’s drug development portfolio across all phases.
Predictive algorithms are employed to forecast key milestones, enabling study leaders to understand deviations from plans and intervene appropriately.
Cristina Duran, President of Evinova, emphasized the significance of digital solutions that work across the pharmaceutical industry and cater to the broader patient population.
AstraZeneca envisions that Evinova’s innovative approach will contribute to propelling the digital health sector forward.
AstraZeneca’s move into the health-tech space comes at a time when the digital health market is projected to experience substantial growth.
AstraZeneca’s estimates suggest a compound annual growth rate of 13.6% between 2022 and 2032, with the market expected to surpass US$900 billion by the end of that period.