ObvioHealth Raises $31 Million, Adds Two Strategic Partners to Bolster Capabilities and Drive Growth Globally

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Jul 01, 2021, 09:01 ET

NEW YORK, July 1, 2021 /PRNewswire/ -- ObvioHealth, a global Virtual Research Organization (VRO), announces it has raised $31 million in its latest round of financing. The round was led by two new partners: Dedalus Group, an international healthcare IT and diagnostic software provider, leader in Europe and backed by Ardian, and Novotech Health Holdings Pte. Ltd. ("Novotech"), Asia Pacific's highest revenue biotech-specialist CRO in 2020.

The collaboration with Dedalus integrates clinical research with EHR (electronic health record) data, facilitating clinical trial design and recruitment while helping healthcare providers from over 6000 hospitals and clinics to deliver better care to more than 330 million patients. The initial stage of the partnership enables researchers to collaborate with hospitals to conduct granular prognostic and predictive analysis for identification of more precise patient subpopulations while maintaining full compliance with stringent European privacy and data safety regulations.

"The collaboration is born out of our strategic focus on clinical safety and efficiency," said Giorgio Moretti, founder of Dedalus and ObvioHealth board member. "Dedalus will facilitate the collaboration of healthcare stakeholders through Dedalus systems, enabling the transformation of clinical data into clinical knowledge. This will result in huge benefits for patients, healthcare professionals and for the clinical research industry at large. ObvioHealth is already helping to bring new drugs and devices to market by making clinical trials faster and safer. The financial investment from Dedalus testifies to its commitment in supporting this transformation."

Novotech specializes in conducting clinical research for biotech companies in Asia-Pacific, a fast-moving market with an appetite for virtual trials. The partnership means ObvioHealth will become Novotech's preferred provider for virtual clinical trials in APAC. In return, Novotech will become ObvioHealth's preferred CRO in the region for hybrid and virtual trials. This partnership will grow ObvioHealth's presence in a region known globally for its medical research and access to large diverse patient populations. Novotech has 29 offices across APAC with local expertise in each market essential to the success of clinical trials in the region.

"Our efficient approach to conducting clinical trials is a key driver of our growth in the biotech space, where clients are seeking faster and more cost-efficient solutions," said John Moller, CEO at Novotech. "Virtual trials offer patients greater access to the important clinical trials conducted across our region."

"The addition of Dedalus and Novotech as investors and partners is a real boon to ObvioHealth's strategic roadmap," said Ivan Jarry, ObvioHealth's CEO. "Both companies are leaders in their respective fields. These complementary assets will allow us to continue to grow our global footprint and extend our virtual trial competencies beyond traditional boundaries."

Together the Dedalus and Novotech Series B investment represents $18.5 million. Additional investment comes from, SPRIM Global Investments, a healthcare and life science-focused venture fund that was the initial seed investor in ObvioHealth and AT Capital group, a Singapore based family office with over US $2 billion of proprietary assets under management, as well as other existing investors.

The financing enables ObvioHealth to boost the IT capabilities of its proprietary ecosystem and platform for conducting virtual clinical trials, including the GDPR compliant bridging software to query EHR data. ObvioHealth also intends to make key hires in the coming year, particularly in Asia, with plans to expand the Singapore office into a technology hub.

About ObvioHealth

ObvioHealth is an end-to-end Virtual Research Organization (VRO) that delivers better data to sponsors and an easier clinical trial experience for participants. The company developed and launched one of the first DCT apps, downloadable on smartphones enabling people to participate in clinical trials from the comfort of their homes. In the 4 years since launch, the company has been awarded nearly 40 studies from 28 blue chip clients, implemented in 28 countries, in 16 different therapeutic areas. For more information, visit https://www.obviohealth.com.

About Dedalus

Dedalus Group is the leading healthcare and diagnostic software provider in Europe, supporting the digital transformation of 6100 hospitals and 5300 Laboratories worldwide, processing its solutions for more than 330M patient records. The company recently announced the successful acquisition of DXC Technology's global healthcare information technology (ICT) business, strengthening its position as a specialist healthcare ICT company, with one of the largest digital health research and development teams in Europe. For more information, visit www.dedalus.com

About Novotech

Novotech is a leading Asia-Pacific biotech specialist CRO, consisting of two operating brands, "Novotech" and "PPC". Novotech is a full-service clinical CRO with labs, phase I facilities, and drug development consulting services. It has accumulated experience in over 3,700 clinical projects, including Phase I to Phase IV clinical trials and bioequivalence studies. Novotech is positioned to serve biopharmaceutical clients conducting clinical trials in Asia and globally. As of March 31, 2021, Novotech had a total of 1,765 FTEs working across our offices in 11 geographies in Asia-Pacific and the United States. For more information, visit https://novotech-holdings.com/

About Ardian

Ardian is a world-leading private investment house with assets over US$112bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian's global network of 700 employees manage funds on behalf of 1000- clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt that fuel individual, corporate and economic growth around the world.

About ATC

Founded by Mr. Arvind Tiku, the AT Capital group is a Singapore-based family office with over US$2 billion of proprietary assets under management. AT Capital Group's key strategic investments are in the renewable energy and residential & commercial real estate sectors, in addition to significant public market investments.

About SPRIM Global Investments

SPRIM Global Investments (SGI) is a healthcare and life science-focused investment company with offices in New York and Singapore with major focuses on healthcare IT and biotech across stages and therapeutic areas. Further information can be found at www.sprim.com.

SOURCE ObvioHealth