Aetion, a NYC-based health care technology company, raised $27 in further Series B funding.
Coupled with its prior funding in early 2018, the investment caps the total Series B funding at $63m. This brings Aetion’s total funding to $77 million since its 2015 launch.
Backers included Sanofi, UCB, McKesson Ventures, and Horizon Health Services, Inc., a Blue Cross Blue Shield of New Jersey company, which joined Amgen Ventures, an earlier investor. Existing venture capital investors also participated in this round, including NEA, Flare Capital, and Lakestar.
The company intends to use the funds 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.
Led by Carolyn Magill, Chief Executive Officer, Aetion is a health care technology company that delivers real-world evidence for life sciences, payers, providers, and regulatory agencies. The platform analyzes data from the real world to produce scientifically validated answers on treatments, costs, and outcomes. Founded by Harvard Medical School faculty members with decades of experience in epidemiology and health outcomes research, Aetion informs health care’s most critical decisions — what works best, for whom, and when — to guide treatment development, commercialization, and payment innovation into health care’s modern era. The platform is used by eight of the top 15 global biopharma firms, payers, academic institutions, the U.S. Food and Drug Administration (FDA) and other major international regulatory bodies.
In 2018, the company 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. The three-year study, named DUPLICATE, is referenced in the FDA’s recently released Framework for its Real-World Evidence Program, which applies across its drug and biologic review programs.