NEW YORK, Aug. 26, 2020 /PRNewswire/ -- Today, Aetion, a health care technology company that delivers real-world evidence (RWE) for biopharma companies, payers, and regulatory agencies, announced a $19 million extension to its Series B funding round, with investment from three new shareholders: Johnson & Johnson Innovation – JJDC, Inc. (JJDC), EDBI, and Greenspring Associates.
The latest strategic capital infusion reflects Aetion's growth, including new and expanded partnerships with regulators, biopharma, payers, and health technology assessment (HTA) bodies this year. The investment brings the total Series B funding to $82 million, and Aetion's total funding to $94 million since its 2015 commercial launch. 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."
Each new backer is a leader in health care, biopharma, or technology investment, and is anticipated to contribute specific strategic value for Aetion's growth in the coming months.
"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 Swee Yeok, 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."
Aetion will apply the funding to expand Aetion Evidence Platform® capabilities, furthering its role in aligning biopharma, regulator, HTA, and payer stakeholders with the goal of assessing the safety, effectiveness, and value of medications, and to advance its global effort in establishing standards for RWE.
This investment comes on the heels of meaningful growth and important milestones for Aetion, and as the world continues to fight COVID-19. Given the urgency to understand the disease and determine which interventions work best for which people, there is a heightened need for technology like Aetion's and for the rapid and transparent RWE it enables.
"Throughout the COVID-19 pandemic, the industry has turned to RWE for answers, cementing its value in the eyes of key stakeholders," said Carolyn Magill, CEO of Aetion. "This funding underscores the confidence in Aetion's technology and team to generate the regulatory-grade RWE needed to inform decision-making across the industry."
Earlier in 2020, Aetion launched a research collaboration with the FDA to advance the understanding of and response to COVID-19. Also this year, the leading HTA body in the U.S., the Institute for Clinical and Economic Review (ICER), selected Aetion as a preferred partner and platform to generate decision-grade RWE.
About Aetion Aetion is a health care analytics company that delivers real-world evidence for the manufacturers, purchasers, and regulators of medical technologies. 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. 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 product development, commercialization, and payment innovation into health care's modern era.
Aetion is based in New York City, and backed by investors including New Enterprise Associates (NEA), Flare Capital Partners, Lakestar, Greenspring Associates, Town Hall Ventures, McKesson Ventures, Sanofi Ventures, EDBI, Amgen Ventures, Johnson & Johnson Innovation – JJDC, Inc., UCB, and Horizon Health Services, Inc. Learn more at aetion.com and follow us at @aetioninc.