AstraZeneca has recently launched a new global health tech business, Evinova. The company aims to streamline clinical trials and make them more accessible to patients, ultimately improving the overall effectiveness of the trials.
As a separate business from its parent company, Evinova will provide global services to CROs and pharmaceutical companies. These services include designing, running, and monitoring clinical trials. Customers will have access to Evinova’s technology at a cost, and the company will operate on a revenue-based model.
Financially backed by AstraZeneca, Evinova was created in response to a gap in the market for these services. The new business venture reflects AstraZeneca’s commitment to advancing healthcare and utilizing technology to improve the drug development process. By addressing the challenges and inefficiencies in the clinical trial process, AstraZeneca hopes to make it easier for patients to participate and ultimately improve the overall effectiveness of the trials.