Evidation Health Inc. reported good news this week in the form of the close of $45 million in series D funding, with an eye toward the expansion of its research platform, Achievement, to include virtual health. B Capital Group led the round, with Mckesson Ventures and Section 32 joining, in addition to existing investors Revelation Partners, Rethink Impact and SV Health Investors.
At the same time, B Capital’s Adam Seabrook has joined Evidation’s board, while Sam Marwaha, senior partner at Boston Consulting Group and long-time advisor to the company, has been named chief commercial officer.
“Participation in research is an activator for individuals to better understand their health and seek care proactively,” said Evidation CEO Deb Kilpatrick. “The natural next step for Evidation is to decrease the latency between evidence and action by offering virtual health programs, while still keeping privacy and consent at the forefront.”
“We felt everything that we would ever build as a company would be built on the power and the promise of connecting directly to people and their permissioned data,” Kilpatrick told BioWorld. “And so, we’ve built an engine fundamentally based on that as a premise.” Now, it has a network of about 4 million people in all 50 states.
For the last few years, the San Mateo, Calif.-based company has focused on research; however, it is ready to take the next step on its journey. To that end, it will “begin to use the evidence that we can generate so rapidly and at scale ... to deliver and connect relevant information ... to individuals to help them understand and take advantage of the insights based on that evidence so they can better manage their care,” Kilpatrick explained.
Against this backdrop, these fresh funds partially will go toward expanding and diversifying the Achievement population. “It’s already the most geographically diverse, for sure,” she added, to include 90% of the zip codes. “We’re always saying that we’re already geographically diverse, but we want to be even better in how we can serve additional at-risk and disease-specific cohorts.” That includes age, race, ethnicity and socio-economic demographics.
Evidation also has been very active in the fight against COVID-19, including an effort to develop an early warning algorithm to detect symptoms and understand susceptibility to infection. The Biomedical Advanced Research and Development Authority and the Bill & Melinda Gates Foundation are backing this initiative, which uses wearables and personal-generated health data to focus on high-risk persons, such as frontline workers.
In addition, the company is collaborating with the New York City Department of Health and Mental Hygiene on a nationwide study focused on understanding the impact of the pandemic and the mechanisms of how people are dealing with such aspects as sheltering in place. Mount Sinai’s Icahn School of Medicine contributed to the design of the study.
When asked about additional near-term initiatives, Kilpatrick highlighted a February announcement related to a Johnson & Johnson and Apple Inc. opening enrollment for the Heartline study. The study aims to explore if the Heartline Study app on Iphone and heart health features on Apple Watch can improve health outcomes. Evidation is collaborating in the study by providing the technology and study operations that enable the app and study experience for participants.
“We are in the throes of that right now. And our focus is going to continue to be there, along with our other major programs that are ongoing related to COVID,” in addition to other therapeutic areas, Kilpatrick explained. Later this year, the company is expected to reveal other partnerships that will expand its offering and footprint beyond the U.S.
With the hiring Marwaha, Kilpatrick noted that he is an industry veteran and served as early champion of real-world evidence in pharma. “Sam’s joining at a time where we’re really at a key point in our journey as a company. We’ve learned that research participation is a real activator for people in their daily lives. And we're expanding our real-life evidence generation engine into more of a closed-loop engine,” with an eye toward helping individuals manage their condition. This information not only is of interest to consumers, but to the company’s biopharma customers, too.
“Health care needs Evidation more than ever before,” said Raj Ganguly, co-founder and managing partner at B Capital Group. “Evidation’s technology has the potential to realize new ways for individuals, providers, biopharma and payers to understand and react to health in real life. Today’s announcement marks the company’s next step toward achieving that goal and we are pleased to continue our partnership with the company as investors.”