AstraZeneca, a global pharmaceutical company, has recently launched Evinova, a new global health tech business with the goal of revolutionizing the clinical trial process. The company recognized a gap in the market for these services and decided to fill it by creating Evinova.

As a separate business from AstraZeneca, Evinova will provide global services to CROs (Contract Research Organizations) and pharmaceutical companies to design, run, and monitor clinical trials. The company will charge customers for access to its technology and will operate on a revenue-based model.

The launch of Evinova is an effort by AstraZeneca to address the challenges and inefficiencies in the clinical trial process. By making it easier for patients to participate and improving the overall effectiveness of the trials, AstraZeneca hopes to ultimately improve patient outcomes. This new venture reflects AstraZeneca’s commitment to advancing healthcare and utilizing technology to improve the drug development process.