ObvioHealth raises $31m: partners with Dedalus & Novotech

Virtual research organisation (VRO) ObvioHealth has raised $31 million in funding to help boost its capabilities in conducting virtual clinical trials.

Over half ($18.5 million) of the funding comes from a series B round led by two of ObvioHealth’s new partners: Dedalus Group, IT and diagnostic software provider, and biotech specialist Novotech Health Holdings.

Collaborating with Dedalus will enable ObvioHealth to integrate its clinical research with electronic health record (EHR) data, helping with clinical trial design and recruitment. 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.”

Through the partnership with Novotech, ObvioHealth will become the biotech’s preferred provider for virtual clinical trails in the Asia-Pacific region. In return, Novotech will become ObvioHealth’s preferred CRO in the region for hybrid and virtual trials.

“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.”

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.