AstraZeneca launches health-tech business Evinova

AstraZeneca has recently inaugurated Evinova, a dedicated health-tech entity aimed at leveraging its expertise in clinical trial design and study delivery. The prominent Anglo-Swedish pharmaceutical company announced on Monday that Evinova will focus on providing scalable solutions to trial sponsors, clinical research organisations, care teams, and patients. These solutions encompass enhanced data collection methods and the implementation of machine-learning algorithms to assist teams in the design of their studies.

The primary objective of Evinova is to streamline the development of new medicines by reducing both time and costs, while simultaneously bringing healthcare closer to patients and alleviating the strain on health systems. AstraZeneca emphasised that the initial key collaborations with clinical research organisations Parexel and Fortrea will facilitate the integration of Evinova's digital-health solutions into their extensive customer base.

AstraZeneca's CEO, Pascal Soriot, expressed optimism about Evinova's potential impact, stating, "We believe Evinova's combination of scientific expertise and a proven track record in developing AI-enabled digital technologies at scale provides a real opportunity to fundamentally improve patient care, drive healthcare transformation, and reduce carbon emissions."

The pharmaceutical giant's strategic move aligns with the growing significance of the digital-health market, projected to surpass $900 billion by 2032. AstraZeneca noted that approximately 60% of this market will be attributed to research and development in digital health and care delivery, particularly through remote patient monitoring.