Medical products and pharmaceutical group Johnson & Johnson was among three investors that added $19m to a series B round for US-based healthcare analytics provider Aetion on Wednesday that now totals $82m.
The corporate’s Johnson & Johnson Innovation – JJDC subsidiary was joined in the extension by the Singaporean government-owned EDBI and venture capital firm Greenspring Associates.
Aetion has built a software platform called Aetion Evidence Platform that sources and analyses data from a range of sources to provide real-world evidence (RWE) of healthcare trends and data to pharmaceutical companies, regulatory agencies and medical technology purchasers.
New Enterprise Associates led the round’s $36.4m first close in 2018, investing alongside Amgen Ventures, the corporate venturing vehicle for pharmaceutical firm Amgen, as well as Oxeon Ventures, Flare Capital Partners and Lakestar.
McKesson Ventures, the investment arm of healthcare product supplier McKesson Corporation, and Horizon Health Services, a subsidiary of health insurer Blue Cross Blue Shield of New Jersey, joined pharmaceutical companies Sanofi and UCB Pharma to add $27m in February 2019.
Carolyn Magill, Aetion’s chief executive, said: “Throughout the Covid-19 pandemic, the industry has turned to RWE for answers, cementing its value in the eyes of key stakeholders.
“This funding underscores the confidence in Aetion’s technology and team to generate the regulatory-grade RWE needed to inform decision-making across the industry.”
The series B round comes after Flare Capital Partners had led an $11.2m series A round for the company in 2017 that also featured Lakestar.
