Digital Patient Clone is a health data repository that brings together deidentified real-world data, with contributions from providers.
Many companies are investing in real-world data to advance treatments and therapies. And today, Ciox Health announced a $30 million investment to enhance its ability of providing real-world data liquidity to reduce healthcare costs and improve patient outcomes.
The Georgia-based health-technology company works to improve health outcomes by turning clinical data into actionable insights. Ciox can release, acquire, enhance and deliver medical record and discrete clinical data from anywhere in the U.S., the company claims.
“Today, we are privileged to extend our mission to support leading-edge efforts to help save, improve and extend lives,” said Pete McCabe, CEO of Ciox Health.
New investor Merck Global Health Innovation Fund and private equity owner New Mountain Capital led the financing round. Ciox will use the money to accelerate development of Digital Patient Clone. The solution, which the company launched for select partners this past February, is a health data repository that brings deidentified real-world data to researchers at scale and on demand.
The platform allows Ciox to piece together a patient’s story from disparate clinical information systems and normalize data for researchers to use. Digital Patient Clone could help pharmaceutical and biotech companies employ real-world evidence to develop more innovative treatments and therapies.
“The Digital Patient Clone brings disparate data together and, in doing so, enables researchers to make well-informed clinical decisions using real data,” said Julie Krommenhoeck, vice president of life science at Ciox.
Real-world data help push targeted drugs to market more quickly, with fewer adverse events. That’s because researchers better understand how the therapy will perform in a highly variable and uncontrolled environment.
The funding will also enable Ciox’s provider partners to help advance clinical research and development.
“Ciox brings a unique approach to accessing real-world data at scale, and we expect them to partner intimately with companies within the (Global Health Innovation Fund) oncology digital health portfolio,” said David Rubin, Ph.D., managing director of Merck. “Ultimately, Ciox’s technology will advance clinical research and accelerate the launch of new treatments.”
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