AstraZeneca launches Evinova, aiming to revolutionise clinical trials with digital solutions
AstraZeneca has initiated a foray into the burgeoning field of health technology with the introduction of its new subsidiary, Evinova. Officially unveiled this past Monday (20th of November, 2023), Evinova is poised to redefine how clinical trials are conducted for biotechnology entities, pharmaceutical corporations, and Contract Research Organisations (CROs). By integrating digital health solutions, Evinova aims to significantly curtail the duration and financial outlay required in the medicine development process.
With Evinova’s debut, AstraZeneca has announced several key partnerships. CROs Parexel and Fortrea are set to incorporate Evinova’s digital services into their operations. Furthermore, Evinova is working in conjunction with Accenture and Amazon Web Services to bolster the adoption of its digital products globally and enhance the scalability of its digital offerings.
Evinova will concentrate on three primary service domains within the health-tech sector. First, it will provide unified trial solutions that streamline the collection of clinical trial data, incorporating innovative digitally-enabled endpoints. This data acquisition will be supported by connected medical devices and sensors both onsite at clinical trial locations and remotely in patients’ residences. These solutions aim to bolster telehealth practices, enable remote patient monitoring, and facilitate direct-to-patient medicine dispatches.
Secondly, Evinova is channelling state-of-the-art technologies such as artificial intelligence and machine learning to architect optimally structured clinical trials. This involves assessing and quantifying a multitude of trial characteristics, from environmental impact to patient experience implications.
Lastly, the portfolio management services offered by Evinova seek to provide clients with a comprehensive overview of their drug development portfolio across various stages. This is achieved through predictive algorithms that forecast crucial milestones and allow study leaders to identify and rectify deviations from planned trajectories.
Cristina Duran, Evinova’s newly appointed president, expressed confidence that this strategic move will significantly advance the digital health sector. The objective is to meet the digital solution needs of healthcare professionals and regulators across the pharmaceutical landscape, ultimately enhancing patient care.
This development aligns with AstraZeneca’s recognition of the digital health market’s potential, which is anticipated to grow at a compound annual growth rate of 13.6% from 2022 to 2032, reaching a valuation in excess of $900 billion by the end of the forecast period. Evinova stands as a testament to AstraZeneca’s adaptive innovation strategy, aiming to navigate and lead in the digital transformation era of healthcare.
