Verana’s platform combines real-world data from electronic health records and analytics to support pharmaceutical drug development.
The financing round as led by GV, formerly Google Ventures, and other existing investors, including Biomatics Capital, Brook Byers, Perkins, Caufield & Byers, GE Ventures, and Lagunita Biosciences.
Verana Health, formerly DigiSight Technologies, also announced a new President and CEO—Miki Kapoor, who told us that pharmaceutical and medical device companies can use the company’s data throughout the drug and device development lifecycle to improve efficiencies.
“For example, life science companies can use Verana’s analytics for more efficient subject recruitment during clinical trials, or to monitor the impact and safety profile of an approved medication over time,” Kapoor said.
The funding also will be used to create a technical team, Kapoor said.
“This team will include data scientists with clinical expertise that have a deep understanding of the information in our database and its potential value-add for our customers, and engineers to develop software applications that enable our customers to use our data in meaningful ways,” he explained. “These two components are going to be big pieces of the use of proceeds for us to accelerate innovation for our customers,” Kapoor said
In 2017, Verana created a specialty data platform after being selected by the American Academy of Ophthalmology as a partner for commercial applications of the IRIS registry. The registry holds 50m patients in its database representing billions of data points.