Policy & Regulation
PicnicHealth Raises USD 60m in Series C Financing
27 June 2022 - - US-based health technology company PicnicHealth has closed a USD 60m Series C financing led by new investor B Capital Group, the company said.

Existing investors Felicis Ventures and Amplify Partners also joined the round, bringing the total PicnicHealth has raised to more than USD 100m.

The company also announced plans to build 30 new patient-centered real-world data cohorts, and the addition of Adam Seabrook, Partner at B Capital Group, to the PicnicHealth board of directors.

PicnicHealth takes a patient-centered approach to building real-world datasets for life sciences researchers.

This longitudinal data avoids typical gaps in existing real-world data sources by working directly with consented patients, the company said.

All datasets include complete medical records from all of a patient's sites of care and can be supplemented with direct patient-reported experience and linked to other research data sources.

The PicnicHealth Research Platform, since its launch in 2020, has powered the creation of patient-centered real-world data cohorts in hematology (including hemophilia, sickle cell disease, paroxysmal nocturnal hemoglobinuria, and immune thrombocytopenia); neurology (including multiple sclerosis, Parkinson's disease, Alzheimer's disease, amyotrophic lateral sclerosis, myasthenia gravis, and Huntington's disease); and rare diseases (including lupus nephritis, primary biliary cholangitis, and Pompe disease).

Accordignn to the company, dozens of global life sciences and biopharmaceutical companies rely on these datasets to surface the real-world experiences of more diverse populations than can be studied in clinical trials alone, ultimately getting the right treatments to the right patients faster.

Funds raised will support PicnicHealth in growing its portfolio of patient-centered real-world data cohorts across 30 new indications in complex, chronic, or rare conditions.

The company will also introduce new capabilities to bring this same depth and completeness to aid clinical trial sponsors in linking trial data with longitudinal real-world outcomes.

In addition, PicnicHealth plans enhancements to streamline and speed the patient experience of gaining access to up-to-date medical records.