THANK YOU FOR SUBSCRIBING
The latest round of investment takes its total raised capital to USD 94 million since its inception in 2015. The proceeds from the investment round will allow the company to expand Aetion Evidence Platform® capabilities.
FREMONT, CA: New York City-based health care technology company that delivers real world evidence for biopharma companies, payers, and regulatory agencies, Aetion, secured USD 19 million in an extension to its Series B funding round, backed by new shareholders Johnson & Johnson Innovation – JJDC, Inc. (JJDC), EDBI, and Greenspring Associates. The latest extension takes the company's Series B total to USD 82 million. The new investors join existing shareholders, including venture capital firms NEA, Flare Capital, and Lakestar, and global health care organizations Sanofi, McKesson Ventures, Amgen Ventures, UCB, and Horizon Health Services, Inc., a Blue Cross Blue Shield of New Jersey company.
"Aetion has had an impactful year, bringing RWE to the forefront of drug research and development with key stakeholders across the industry," said Dr. Scott Gottlieb, former FDA Commissioner, and Aetion Board Director. "The new investment will help Aetion define and advance real-world evidence standards in the United States and across the globe."
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
The latest round of investment takes its total raised capital to USD 94 million since its inception in 2015. The proceeds from the investment round will allow the company to expand Aetion Evidence Platform® capabilities, furthering its role in aligning biopharma, regulator, HTA, and payer stakeholders to assess the safety, effectiveness, and value of medications, and to advance its global effort in establishing standards for RWE.
"With its world class, data science-driven RWE solution, Aetion has established itself as a credible partner to leading regulators and global companies around the world," said Chu SweeYeok, CEO & President at EDBI. "We are enthusiastic about supporting Aetion as it expands into Asia to tap on high-quality data sets and collaborate with regulators to localize its data science solutions for drug development and commercialization needs in this region."
The investment round comes on the heels of an important milestone for the company, as the world continues to battle the COVID-19 pandemic. Given the urgency to understand the disease and determine which interventions work best for people, there is a heightened need for technology like Aetion's and the rapid and transparent RWE it enables. The Aetion Evidence Platform® analyzes data from the real world to produce transparent, rapid, and scientifically validated answers on safety, effectiveness, and value, across the product life cycle.
More in News