Aetion – a provider of evidence-based analytics solutions for payers, biopharma, and medical device customers – announced a $19 million extension to its Series B funding round, with investment from Johnson & Johnson Innovation (JJDC), EDBI, and Greenspring Associates.
Founded by Harvard Medical School faculty members with experience in epidemiology and health outcomes research, the Aetion platform provides insights from real-world evidence to decision-makers across life sciences, health insurance, and provider organizations.
Using real-world data generated by the healthcare system and analyses grounded in the epidemiology, the platform helps make validated decisions at every phase of commercialization and across the risk-bearing continuum. The platform use cases include research and development optimization, data review for regulatory approval, and treatment effectiveness evaluations within specific patient populations.
The new investors join existing shareholders include New Enterprise Associates (NEA), Flare Capital, Lakestar, Sanofi, McKesson Ventures, Amgen Ventures, UCB, and Horizon Health Services, a Blue Cross Blue Shield of New Jersey company.
Earlier in 2020, Aetion launched a research collaboration with the U.S. Food and Drug Administration (FDA) to advance the understanding of and response to COVID-19. “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.”
Chu Swee Yeok, CEO & President of EDB, said, “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 additional investment brings the total Series B funding to $82 million, and the company’s total funding to $94 million since its founding in 2015.