Datavant, an information sharing expertise startup for suppliers and life science corporations, final week closed $40 million in Series B funding. Transformation Capital headlined the elevate, which noticed contributions from new backers Johnson & Johnson Innovation – JJDC and Cigna Ventures along with these of prior traders Roivant Sciences and Flex Capital.
All advised, the brand new funding brings Datavant’s lifetime elevate to $83 million.
WHAT THEY DO
The San Francisco firm appears to be like to facilitate safe well being knowledge alternate throughout its knowledge ecosystem. So far, it is integrated greater than 350 organizations into its community, together with educational medical facilities, pharmaceutical corporations, payers, specialty pharmacies and different well being expertise corporations. These organizations use the free-flowing, de-identified knowledge to analysis novel therapies, forecast inhabitants outcomes or conduct different real-world knowledge well being analysis.
“Datavant’s mission is to connect the world’s health data to improve patient outcomes. The fragmentation of health data across institutions holds back every part of medical research and patient care,” Travis May, founder and CEO of Datavant, mentioned in a press release. “By making it safe and easy to connect data across institutions, Datavant aspires to accelerate medical research, improve clinical trials, and ultimately enhance patient care. We have already seen real-world data make a clear difference in our understanding of the current public health crisis, and we believe that real-world data will accelerate our understanding and ability to treat other diseases.”
WHAT IT’S FOR
Datavant was sparse on particulars on the way it will use its new funds, saying solely that the cash will assist the corporate proceed its work towards its purpose of selling a low-friction healthcare knowledge ecosystem.
Data sharing has lengthy been a sore spot inside healthcare, with HIPAA compliance, interoperability points and safety considerations typically impeding the free circulate of knowledge for therapy, analysis and different makes use of.
With that being mentioned, the previous few years have seen data-driven platforms for well being analysis choose up steam. Aetion, Verana Health and OM1 every raised substantial funding to help their real-world proof instruments for suppliers, pharmas and life science clients. And regardless of some COVID-19 deadline delays, many in the space are looking forward to the information sharing implications of the Office of the National Coordinator’s long-awaited remaining guidelines on well being knowledge interoperability, info blocking and data-driven innovation.