On Wednesday, British pharmaceuticals company AstraZeneca announced its investment in Huma, a UK-based medical technology startup. The pharmaceutical titan invested £25 Million in Huma and this is all part of a wider commercial tie-up between the two companies, according to people familiar with the matter.
Huma was founded in 2011 and went by the name Medopad before the rebrand. The startup has raised over $200 million from investors which include big names like Sony, Samsung and Bayer. The medical startup develops applications that allow doctors to monitor the symptoms and vital signs of their patients without being physically there. The startup collects health-related data using smartphones, wearables and other devices which can be used by medical professionals when conducting research on patients.
Huma will be acquiring AMAZE, a disease management platform developed by AstraZeneca for asthma and heart failure patients, as part of the deal, according to these inside sources. Huma and AstraZeneca, however, did not disclose the details of their agreement but an AstraZeneca spokesperson confirmed that “AstraZeneca will become a shareholder of Huma continuing its mission to build strategic partnerships across the healthcare ecosystem. We will collaborate closely to scale AMAZE across multiple projects driving our shared ambition to improve clinical outcomes through digital health solutions that bridge the gap between patients, clinicians, and researchers.”
AstraZeneca and Huma already have a history together. The former with the latter on carrying out clinical trials virtually using Huma’s technology. According to Huma’s CEO and co-founder – Dan Vahdat, with the new partnership, Huma wants to become AstraZeneca’s “extended digital arm.”
Dan Vahdat who mentioned that the startup’s virtual clinical trials were boosted by the Coronavirus pandemic said that “On the research side, digital tools are becoming the standard. We are well-positioned with the network of patients we already have, and the simplicity of our technology.” He is of the opinion that the technology has the potential to not only reduce the time needed to complete drug trials, it will also be very cost-effective.
The new announcement will also boost Huma’s drive to further expand in the US where AstraZeneca already partners with institutions such as Massachusetts General Hospital and Stanford University.
“With Huma, we are accelerating AstraZeneca’s ambition to achieve earlier diagnosis and treatment for patients with chronic diseases so they can lead better, more fulfilling lives,” Karan Arora, AstraZeneca’s chief commercial digital officer, who said the tie-up marked “a first for AstraZeneca in the digital space,” mentioned in the company’s statement issued on Wednesday.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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