Medical Whole Body Screening Software on Tablets and Medical Devices
Verana Health is a company that analyzes real patient data to provide drug insights, Raised $150 million to drive the expansion of its technology.
Data from more than 20,000 healthcare providers and 70 electronic health record systems is managed by the San Francisco-based digital health company. Verana’s technology, VeraQ’s analytics, provides information for physicians who can better understand a patient’s condition and best treatment options, as well as life sciences companies that use the data to guide clinical research.
Verana’s pharmaceutical industry partners include Janssen Research & Development, a Johnson & Johnson subsidiary. nearly a year ago, Verana and Janssen begin collaboration to develop new, better ophthalmology and urology treatments. The two focal diseases are diabetic retinopathy and early-stage prostate cancer.
The Series E financing announced Friday deepens Verana’s ties with J&J. The round was led by Johnson & Johnson Innovation – JJDC (the pharma giant’s venture capital arm) and Novo Growth. With the new cash, Verana said it plans to expand its strategy across the drug lifecycle, increase the value of the technology to physicians, and forge additional partnerships with medical societies to expand its data footprint. The company also said it will use its artificial intelligence capabilities to focus on extracting insights from unstructured text data in EHR notes using natural language processing.
“Verana Health has demonstrated incredible growth in its partnerships with leading pharmaceutical companies and medical associations,” Jeffrey Low, head of Novo Growth, said in a prepared statement. “The company has assembled a team in healthcare, A seasoned management team with extensive experience in science and business will continue to extend real-world evidence across multiple therapeutic areas through VeraQ, its unique and powerful health data platform.”
Earlier investors GV, Casdin Capital and Brook Byers also joined the latest funding round. New investors participating in the financing include Merck Global Health Innovation Fund, THVC and Breyer Capital.
Photo: ra2studio, Getty Images
