Evidation Health, a health and measurement company that helps life sciences and health care companies understand how everyday behaviours and health interact, has raised USD30 million in Series C funding.
The round was co-led by SV Health Investors, a new investor, and existing investor B Capital Group. It included participation from existing investors GE Ventures and Sanofi Ventures. With this funding, Evidation has raised a total of USD61 million.
Evidation also announced that it launched a new data platform to enable its customers to analyse and process large-scale sensor and behaviour data in clinically meaningful ways.
“Our new data platform makes it easier for statisticians and data scientists at life sciences and health care companies to take everyday behaviour and health care data, analyse it, and create a new understanding of health,” says Evidation Health CEO Deborah Kilpatrick, Ph.D. “This will help Evidation speed a transformation in real world research and knowledge, so we can better treat, diagnose, and predict the onset of disease.”
By linking real world data from smartphones and connected sensors – including wearables and medical devices – with traditional medical data, Evidation measures how behaviours outside of the doctor’s office or hospital relate to health and impact outcomes. The new data platform – which has been battle tested in a pilot program with a leading, global pharmaceutical company – can ingest individually-permissioned data from more than 100 sources ranging from Apple Health to Fitbit, Epic, Blue Button, and Dexcom.
The platform marries this information with traditional data from insurance claims, electronic health records, and diagnostic reports, alongside patient-reported outcomes collected directly through Evidation’s platform. This provides a new opportunity to analyse individual behaviour and health in real time, not just when someone checks in with a physician or stops to record what they did or felt.
“Evidation’s data platform is opening up exciting new possibilities in medical research and the way we treat and prevent disease,” says P Murali Doraiswamy, MD, professor of psychiatry and medicine at Duke University Health System, and an advisor to Evidation. “With its unique analytics and methods, Evidation is transforming data into the kind of findings that traditional clinical trials may need substantially longer time frames, maybe even decades, to achieve. This will help identify health risks earlier and better treat the kinds of chronic diseases that scientists are working to cure.”
The secure, private platform currently processes more than 1 trillion data points each year across millions of individuals. It is built to manage the scale of high volume, continuous data streams and eliminates the need for infrastructure, data, and feature engineering on the part of Evidation customers, allowing them to focus entirely on analytics.
Already, the platform is being used to invent new ways to measure health across diabetes and cognitive decline. This complements the work that the company is performing with partners across multiple therapeutic areas ranging from cardiovascular disease to chronic pain, rheumatoid arthritis, migraine, depression and anxiety, fatigue, heart failure, and asthma – to name a few.
In addition to supporting the new data platform, the funding will be used to develop partnerships, adding to Evidation’s vast array of real world data sources, and to launch novel research studies to better understand and measure how everyday behaviour and health interact.
“We’re excited to deepen our partnership with Evidation Health and continue supporting the team as they build the leading platform to generate clinical relevance from everyday behaviour data in real world populations. Evidation’s ability to link patient behaviour to medical outcomes is truly revolutionary and will help transform how we measure health in everyday life,” says Raj Ganguly, co-founder and partner of B Capital Group.
“Evidation stands out not only because of its powerful data intake, aggregation, and analytics capabilities, but also because of the strength and vision of the company’s leadership team with a rare combination of deep technology and health care expertise. Evidation represents a unique platform company with the ability to meaningfully improve clinical development and, by extension, drug delivery, treatment, and outcomes,” adds SV Health Investors Managing Partner Michael Balmuth, who is joining Evidation’s board of directors.
