Health Care

Aetion completes $82M Series B round with $19M extension

A data analytics firm focused on generating real-world evidence has raised an extension that completes its Series B funding round.
New York-based Aetion said Wednesday that it had raised the $19 million extension to its Series B, completing the $82 million financing. The investment came from three new shareholders – Johnson & Johnson Innovation – JJDC, EDBI and Greenspring Associates. That’s in addition to existing investors NEA, Flare Capital, Lakestar, Sanofi, McKesson Ventures, Amgen Ventures, UCB and Blue Cross Blue Shield of New Jersey’s Horizon Health Services.
“Aetion has had an impactful year, bringing RWE to the forefront of drug research and development with key stakeholders across the industry,” former Food and Drug Administration commissioner and Aetion board director Scott Gottlieb said in a statement. “The new investment will help Aetion define and advance real-world evidence standards in the United States and across the globe.”
The company said it would use the money to expand its Aetion Evidence Platform technology for use by the biopharma, regulator, health technology assessment and payer sectors.
The company has already teamed up with a variety of players, particularly amid the Covid-19 pandemic. In July, it formed a partnership with Cegedim Health Data focused on real-world evidence research in Europe, especially regarding treatment questions related to Covid-19. And in May, it formed a partnership with the U.S. Food and Drug Administration, whereby the two planned to identify and analyze sources of real-world data that they could use to characterize populations of patients with Covid-19, how they use medicines and also risk factors, so as to characterize potential interventions. The FDA has already embraced the use of real-world evidence and collaborated with other institutions. Last April, under Gottlieb’s leadership, the agency expanded a project with Brigham and Women’s Hospital in Boston to use RWE to recreate randomized, controlled clinical trials in order to predict the results of Phase IV clinical trials. The expansion was announced shortly before Gottlieb’s departure from the agency.
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