AstraZeneca enters digital health with stake in tech start-up
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AstraZeneca (NASDAQ:AZN) has partnered with Huma, a U.K.-based medical technology start-up marking its entry into the digital health space.
As part of the tie-up announced on Wednesday, the Anglo-Swedish pharma giant has taken approximately Â£25 million ($33 million) worth of stake in Huma, CNBC reported, citing a person familiar with the matter.
âAstraZeneca will become a shareholder of Huma continuing its mission to build strategic partnerships across the healthcare ecosystem,â a company spokesperson said.
Per the terms, Huma is set to acquire AMAZE, a disease management platform developed by Astra (AZN) targeting asthma and heart failure patients.
Announcing the deal, Huma said that the two companies would join hands to launch Software as a Medical Device (SaMD) companion apps for several therapeutic areas. Huma and Astra (AZN) will also work together to speed up the adoption of decentralized clinical trials.
Huma did not disclose the financial terms of the partnership. The companies already collaborate in running virtual clinical studies.
"This collaboration marks an important moment as it is a first for AstraZeneca in the digital health space as well as in the industry for chronic diseases and SaMDs in support of different treatments," remarked Karan Arora, Astraâs (AZN) Chief Commercial Digital Officer.
Read more about Astraâs (AZN) past M&A deals.