By Michael Susin

AstraZeneca said it has launched Evinova, a separate health-tech business to offer its knowledge of clinical-trial design and study delivery.

The Anglo-Swedish pharmaceutical giant on Monday said the business will deliver solutions at scale to trial sponsors, clinical-research organizations, care teams and patients. This includes improved data collection and machine-learning algorithms to support teams designing their studies.

"This will reduce the time and cost of developing new medicines, bring care closer to home for patients and reduce the burden on health systems," it said.

The company added that the first major collaborations with clinical-research organizations Parexel and Fortrea will enable Evinova's digital-health solutions to be offered to their wide customer base.

"We believe Evinova's combination of scientific expertise and track record in developing AI-enabled digital technologies at scale, provides a real opportunity to fundamentally improve patient care, drive healthcare transformation and reduce carbon emissions," Chief Executive Pascal Soriot said.

The digital-health market is expected to be worth more than $900 billion by 2032, with research and development of digital health and care delivery with remote patient monitoring making up around 60% of the total market, the company added.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

November 20, 2023 03:26 ET (08:26 GMT)

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