AstraZeneca has recently launched a new global health tech business, Evinova, with the goal of revolutionizing clinical trials. The company aims to reduce the time and cost of these trials and make them more accessible to patients.
Evinova will operate as a separate business, financially backed by AstraZeneca. The company will provide global services to CROs and pharmaceutical companies, helping them design, run, and monitor clinical trials. Evinova will charge customers for access to its technology and will operate on a revenue-based model.
The creation of Evinova stems from AstraZeneca’s observation of gaps in the market for clinical trial services. By addressing these challenges and inefficiencies, Evinova hopes to improve the overall effectiveness of clinical trials and make it easier for patients to participate. This new venture reflects AstraZeneca’s commitment to utilizing technology to advance healthcare and drug development processes.