Access to Over One Million Patient Data Records and Additional Funding Support Enhanced Real-World Data and Analytics Services in Oncology
Boston, Mass. – November 18, 2020 – COTA, Inc., a healthcare technology company that uses real-world data to bring clarity to cancer care, today announced new capital and the expansion of its data access by over 300%, which now well exceeds one million oncology patient records. This growth will support the Company’s commitment to accelerating the use of real-world data to improve patient outcomes and increase efficiency in oncology drug development.
Building on a strong year of collaborations and ongoing partnerships, the company has recently secured $34 million in growth capital. This includes a Series D round of financing led by Baptist Health South Florida and ONC Capital with participation from EW Healthcare, Horizon BCBS, Boston Millennia Partners, and other existing investors.
As a co-leader of the Series D, Baptist Health South Florida has secured a seat on COTA’s board of directors that will be filled by Dr. Leonard Kalman, the Executive Deputy Director and Chief Medical Officer of Miami Cancer Institute of Baptist Health South Florida. COTA is a licensee of both data and intellectual property developed at Baptist Health South Florida’s Miami Cancer Institute.
“COTA has become a national leader in cancer patient data analytics,” said Dr. Leonard Kalman. “Their powerful analytics tools enable providers to rapidly answer clinical questions in order to make better decisions about clinical trial participation, and in the realm of population health.”
In conjunction with the Series D, COTA recently announced that Varian, the long-standing global leader in comprehensive solutions for oncology, has made a $20 million investment in the company. The two companies will collaborate to create better Intelligent Cancer Care™ tools for decision support using real-world evidence and explore an offering that combines COTA’s real-world data with Varian’s patient reported outcomes. Furthermore, Varian has negotiated an option to acquire the company at a later date.
COTA’s expanded access to oncology electronic health records is the result of a recent partnership with a leading United States cancer center. The clinical depth of COTA’s data combined with its access to over one million geographically diverse patient records is unmatched, as the company partners with both academic and community-based cancer centers across the country.
This data helps life science partners answer key research questions, while offering providers real-time insights into patient care and outcomes.
- In 2020 alone, despite the challenges posed by COVID-19, COTA is projected to double its life science customers growing from 8 to 16 and has extended its research collaboration agreement with the United States Food and Drug Administration.
- COTA data was used in multiple regulatory filings with the FDA and EMA as external control arms. Life Sciences companies expect the use of external control arms will accelerate the speed at which patients are able to access innovative therapies.
- The increased record access will support new regulatory filings in 2021.
“COTA is proud to receive this validation from leading institutions across the oncology ecosystem.” said Michael Doyle, President and CEO of COTA. “The additional capital combined with our increased data access positions COTA for tremendous growth and enables us to drive innovation in oncology using real-world data. Our high-quality data and technology solutions will improve how cancer is treated and provide much needed clarity to patients as they navigate their cancer journey.”
About COTA, Inc.
Founded by doctors, engineers and data scientists, COTA is committed to bringing a patient first approach to cancer care through the use of real-world data. The Company organizes fragmented, often hidden data from the real world to provide clarity in cancer care. Combining clinical expertise in cancer with proprietary technology and advanced analytics, COTA’s platform helps inform decisions and action in oncology. COTA partners with providers, payers, and life science companies to ensure that everyone touched by cancer has a clear path to the right care. To learn more about COTA and how to make better decisions with the right data, visit www.cotahealthcare.com.