The drug giant AstraZeneca launched Evinova to speed up clinical trials

Pharmaceutical giant AstraZeneca announced on Monday the spin-off and launch of a new digital health company called Ivinova. AstraZeneca says the new company will operate independently within the AstraZeneca ecosystem.

“The future of drug development can be accelerated by digital solutions,” said Pascal Soriot, CEO of AstraZeneca. “We believe Avinova's combination of scientific expertise and track record in developing AI-enabled digital technologies at scale offers a real opportunity to fundamentally improve patient care, transform healthcare and reduce carbon emissions.”

Digital health refers to technologies and applications designed to improve healthcare delivery, patient outcomes, and the overall efficiency of the healthcare system. These technologies include wearable devices, remote care and telemedicine, smartphone applications, and virtual or augmented reality.

AstraZeneca predicts that the digital health market will be worth $900 billion by 2032, and says that progress is essential in reducing healthcare costs. However, the time and cost involved in conducting clinical trials causes nearly 80% of them to be rejected, according to the company.

“Evinova's primary focus is on the design of clinical trials and the conduct of those clinical trials. Joining AstraZeneca in supporting Evinova are North Carolina-based clinical research firms Parexel and Fortrea,” an AstraZeneca spokesperson told Decrypt.

Since OpenAI's ChatGPT launched last year, artificial intelligence has become a staple in a variety of industries, including medicine, education, and defense. Tech giants Microsoft, Google, Amazon and Meta have invested heavily in artificial intelligence over the past year.

Artificial intelligence teams can speed up the process by designing studies, automating cost calculations and determining trial feasibility based on regional and historical data, Evinova said.

Using AI, AstraZeneca can also speed up the decision-making process.

In the year At the annual Healthy Long Life Global Inventors Summit in October, Microsoft Corporate Vice President of Research and Incubation Peter Lee said GPT-4—the latest version of ChatGPT—helped the family manage their elderly father's health and explained complex medical issues to the family. It was a source of heated debate.

“Being able to give us GPT guidance kept the temperature down and kept the family together,” Lee said.

Meanwhile, a study published in the international journal Nature suggests that AI models can be used to diagnose and remove central nervous system (CNS) tumors. Earlier this year, UK-based biotech startup EtAssembly said it was experimenting with using generative AI to design a new immunotherapy to treat cancer cells.

“In the sector and with a proven track record, Evonova uniquely provides science-based, evidence-based, and human experience-based solutions with the goal of improving patient experience and outcomes,” said Evonova President Cristina Duran in a statement.