Pharmaceutical giant AstraZeneca announced the launch of Evinova, a health technology business focused on bringing digital health solutions already in use globally by the pharma company to clinical research organizations (CROs), trial sponsors and care teams, and patients.
The new company will use established digital technology solutions to streamline clinical trial design and delivery in order to reduce time and costs in medicine development. The venture will also dive into digital remote patient monitoring and therapeutics.
The suite of digital solutions includes the Evinova unified trial solution, which enables direct collection of various data types, including digitally enabled endpoints and connected medical devices, at both trial sites and patients’ homes.
It also supports virtual visits, direct-to-patient medicine delivery, telehealth, remote monitoring and sample tracking.
Interaction occurs through a patient app, which is available in more than 40 countries and 80 languages.
A second offering is Evinova’s study design and planning module, which utilizes AI and machine learning to assist clinical teams in crafting optimal studies, considering essential design factors.
The tool enables teams to receive automated cost estimates and evaluate operational viability using real-time data at country and site levels. Additionally, the module offers historical data, forecasts future trends, estimates a study’s environmental impact and patient experience, and facilitates quicker decisions through collaborative scenario comparisons.
Evinova’s portfolio management tool provides reporting and governance with real-time insights and predictive algorithms. Researchers can use the platform to get a complete picture of the portfolio across all phases, and it allows for tracking clinical programs and trials at the global, regional, country and site level. It also helps study leaders understand deviations from plans.
Operating as a distinct entity within AstraZeneca, Evinova will also benefit from collaborations with CRO and biopharmaceutical company Parexel and fellow CRO Fortrea. These partnerships could help drive Evinova’s digital products to a broader customer base, which includes pharmaceutical, biotech and CROs in support of global clinical research initiatives.
Accenture and Amazon Web Services are also partnering to bolster the adoption and global reach of Evinova’s digital products.
“The future of medicine development can be accelerated with digital solutions. We believe Evinova’s combination of scientific expertise and track record in developing AI-enabled digital technologies at scale, provides a real opportunity to fundamentally improve patient care, drive healthcare transformation and reduce carbon emissions,” Pascal Soriot, CEO of AstraZeneca, said in a statement.
THE LARGER TREND
Deloitte’s recent analysis of the top 20 global pharmaceutical companies revealed a substantial decline in the projected return on investment for research and development, falling drastically to 1.2% in 2022 from 6.8% in 2021.
The findings indicated the critical need for an overhaul in drug development by leveraging digital technologies to enhance efficiency and improve clinical trials.
Scala Biodesign recently launched with $5.5 million in funding to develop bioproducts from proteins, having developed a computational solution using AI, modeling and data analysis of naturally occurring proteins to generate superior antibodies, enzymes and vaccine immunogens.
In August, AI-enabled clinical trial design company QuantHealth announced it had scored $15 million in a Series A funding round co-led by Pitango HealthTech and Bertelsmann Investments, bringing its total raise to $20 million.