US-based medical analytics technology developer Aetion received $27m from corporates Sanofi, Horizon Health Services, McKesson and UCB Pharma on Tuesday to increase its series B round to $63.4m.
Pharmaceutical firms Sanofi and UCB Pharma, healthcare provider Horizon Health Services and McKesson Ventures, the corporate venturing arm of healthcare product and IT technology supplier McKesson Corporation, provided the cash, which follows $36.4m in April 2018.
Venture capital firm New Enterprise Associates (NEA) led the first close, which also featured Amgen Ventures, the corporate venturing vehicle for pharmaceutical company Amgen, as well as Oxeon Ventures, Flare Capital Partners and Lakestar.
Founded in 2013, Aetion has developed software that applies analytics tools to medical data collected from insurance claims, health records, registries and clinical trials.
The Aetion Evidence Platform uses the analysed data to provide insights into the development, costs and outcomes associated with medical treatments. The company’s customers include drug producers, academic institutions and regulatory bodies such as the US Food and Drug Administration (FDA).
Ameet Nathwani, Sanofi’s chief medical officer, said: “We are at an inflection point, in which the convergence of massive analytical advances and enormous amounts of new data are transforming what’s possible in healthcare.
“Aetion is ideally positioned to lead this shift, given the power of its technology and extensive experience with biopharma leaders and the FDA. Sanofi is excited to join as a strategic investor as the company helps set the global standards for real-world evidence.”
The company has now raised a total of $77m, and the series B round follows an $11.2m series A in March 2017 that was led by Flare Capital and backed by Lakestar.