The healthcare data company PicnicHealth has moved to acquire AllStripes, with its focus on generating clinical evidence in rare diseases.
Both companies have sought to build digital platforms with the ability to tap into patient communities and collect real-world information that could be useful to medical product designers and drug developers—with the goal of lowering the costs previously associated with operating a network of clinical sites.
PicnicHealth, for example, organizes electronic medical records into digestible datasets, while supplementing them with patient-reported outcome findings that can help better illustrate a person’s healthcare journey as they move between hospitals or health systems. The company has previously estimated that the typical PicnicHealth patient has data spread across more than 20 different providers spanning seven years.
Meanwhile, AllStripes, formerly known as RDMD, collects information from people with rare diseases such as Batten disease, Hunter syndrome, sickle cell anemia and more, then uses their anonymized records to help improve the design of clinical trials and quality-of-life metrics.
“Through this acquisition, PicnicHealth will be able to better engage our patient community by incorporating the best of AllStripes patient experience into the PicnicHealth platform,” PicnicHealth CEO Noga Leviner said in the company’s announcement.
“AllStripes and PicnicHealth share a common vision of elevating clinical studies by putting patients at the core of the research experience. By combining forces, we can unlock the potential of patient-centered studies and provide best-in-class solutions to support therapeutic development,” Leviner added.
The financial terms of the acquisition were not disclosed.
The deal comes after PicnicHealth raised $60 million in a series C venture capital round in June of last year and after AllStripes secured $50 million in an August 2021 series B. AllStripes’ round was led by Lux Capital, with additional backing from Jazz Venture Partners, Spark Capital, Medidata Solutions, McKesson Ventures and Maveron, among others.
“This deal builds on the premise that patient-centric evidence generation can empower patients and ultimately accelerate the development of new treatments,” said AllStripes CEO Nancy Yu. “PicnicHealth will continue both companies' work to harness the power of patient data to support biomedical research.”