AstraZeneca has taken a roughly £25 million ($33 million) stake in U.K. health start-up Huma, according to a person familiar with the matter.
Huma develops applications that let doctors monitor a patient's symptoms and vital signs remotely. It also collects health data using smartphones, wearables and other devices to help clinicians with conducting medical research involving patients.
AstraZeneca already works with Huma on carrying out clinical trials virtually by using the company's technology. With its new partnership, Huma aims to become the"extended digital health arm" of AstraZeneca, CEO and co-founder Dan Vahdat told CNBC. "On the research side, digital tools are becoming the standard," Vahdat said in an interview."We are well positioned with the network of patients we already have, and the simplicity of our technology."
Vahdat said the progress of Huma's virtual clinical trials was"accelerated" by the coronavirus pandemic. He believes the technology has the potential to cut the cost and time involved in completing drug trials dramatically. Whereas it would normally take 12 years and cost around $1.5 billion to get a drug clinically approved, virtual trials can reduce that by two years and"a few $100 million," he said.
The move will also help Huma pursue further expansion in the U.S., where AstraZeneca has partnerships with the likes of Massachusetts General Hospital and Stanford University, Vahdat said.
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