Prognos Health Raises $23 Million
New York, NY – Prognos Health, the largest real-world integrated data marketplace, has announced that it has raised $23 million in growth equity co-led by Marshall Wace and Safeguard Scientifics, with participation from Cigna Ventures, Hikma Ventures, Hunt Holdings, Labcorp, Maywic, Merck Global Health Innovation Fund, and Red and Blue Ventures.
"We are excited to have the support of such a strong group of investors who share our mission of unlocking the power of data to improve health," said Sundeep Bhan, CEO of Prognos Health. "This funding will enable us to accelerate our growth and expand the reach of our platform, bringing the benefits of integrated real-world data to even more healthcare organizations. With this investment, we are well-positioned to make a real difference in patients' lives and improve the quality of healthcare."
Prognos Health's platform is used by over 70 life sciences customers to accelerate the development of new drugs, improve the safety and efficacy of existing drugs, and identify new patient populations that may benefit from specific treatments.
"Prognos Health has the potential to transform healthcare and drug development through its real-world data marketplace, insights, and technology,” said Bill Hanlon, Ph.D., Senior Vice President and Head of Real-World Data Product Strategy at Labcorp. “Our investment furthers our commitment to bringing innovative solutions to our customers that have the potential to improve healthcare, treatments, and patient outcomes.”
"Prognos Health's real-world data marketplace provides the opportunity to identify important actionable insights with the potential to significantly accelerate drug development and improve patient outcomes. We are pleased to provide support in this funding round and look forward to seeing the continued growth of the company,” said Joe Volpe, Managing Director at Merck Global Health Innovation Fund.
"At Safeguard, we partner with innovative companies that have the potential to transform industries, and Prognos Health is no exception,” said Eric Salzman, CEO of Safeguard Scientifics. “The company's platform has already made a significant impact in the healthcare industry, and we believe that with this funding, Prognos Health will continue to lead the way in unlocking the power of real-world data to improve health outcomes for patients and healthcare organizations."
“There is a growing need within the life sciences industry for platforms that enable early identification of patients who can benefit from enhanced treatment decision-making, and the Prognos platform provides a forward-thinking model for meeting that demand,” said Lana Ghanem, Managing Director of Hikma Ventures. “We are excited to continue supporting the company and to see it build on its success.”
The fresh capital injection will further aid in building Prognos' trusted and diverse data ecosystem, thereby accelerating the transformation of healthcare through the power of integrated data.
Tungsten Advisors served as the exclusive financial advisor and Brown Rudnick served as legal counsel to Prognos Health.
Prognos Health's real-world data marketplace has already made a significant impact in the healthcare industry. With this new funding, the company is poised to further accelerate the transformation of healthcare through the power of data.
Prognos Health is a real-world data (RWD) company that unlocks the power of data to improve health. Prognos offers the leading managed RWD marketplace, accelerating the development and delivery of innovative therapies and improving health outcomes by offering fully integrated and harmonized lab and health records on more than 325 million de-identified patients. Prognos Health's platform provides a comprehensive and integrated view of patient health, enabling researchers, payers, and providers to make better decisions about care.
Director of Marketing, Prognos Health