AstraZeneca has recently launched a new global health tech business, Evinova, with the goal of streamlining clinical trials and making them more accessible for patients. The company identified a need for these services in the market and decided to fill it by creating Evinova.
Operating as a separate business from AstraZeneca, Evinova will provide global services to CROs and pharmaceutical companies to design, run, and monitor clinical trials. The company will charge customers for access to its technology and operate on a revenue-based model.
Through the creation of Evinova, AstraZeneca hopes to address the challenges and inefficiencies in the clinical trial process, ultimately making it easier for patients to participate and improving the overall effectiveness of the trials. This new venture reflects AstraZeneca’s commitment to advancing healthcare and utilizing technology to improve the drug development process.