Oncology data curation and analytics platform COTA Healthcare raised $10 million in a convertible loan from Varian Medical Technology, a radiation oncology software and equipment company.
The Cota platform, which focuses on cancer care, helps organize the fragmented, often hidden data emerging from ongoing clinical trials. According to the company, the software helps oncology care providers develop value-based cancer treatment bundles.
The platform also curates the database of de-identified patient data across 14 cancer types. It captures demographic, pathologic, genomics, treatment, and outcome records from multiple provider sources, including academic and community cancer programs across the U.S., the company said.
COTA works with healthcare providers, life science companies, and medical centers, including Miami Cancer Institute, Memorial Sloan Kettering Cancer Center, Hackensack Meridian Health, and IBM Watson Health.
With the latest convertible loan infusion, Cota has now raised $75 million to date, $20 million of which is from Varian. Cota previously raised $40 million in a Series C financing round in February 2018, led by IQVIA with participation from EW Healthcare Partners.
The company employs more than 70 people, and it plans to double that headcount within a year, with the new capital.
“Cota has been able to leverage its knowledge of real-world evidence applications and learnings to participate in the COVID-19 Evidence Accelerator program, a joint initiative of Friends of Cancer Research and the Reagan-Udall Foundation for the FDA,” the company told VentureBeat. “Through this initiative, Cota is delivering findings from its observational, real-world studies using data from over 3,000 patients hospitalized with COVID-19 within the Hackensack Meridian Health network.”
Healthcare data analytics companies raised $1.3 billion in the first nine months of 2020, according to the latest Mercom Digital Health Funding report. Recently, Biofourmis, developer of Biovitals, a personalized AI-powered health analytics platform, raised $100 million in a Series C financing.