PicnicHealth acquires AllStripes, adding rare diseases to data platform
Patients and researchers can access shared, depersonalized medical records
The patient-centered healthcare data generation company PicnicHealth has acquired AllStripes, a platform that’s focused on gathering clinical evidence of people with rare diseases like aromatic l-amino acid decarboxylase (AADC) deficiency.
With the acquisition, PicnicHealth aims to its expand patient-centered strategies intended to help in the design of the clinical trials essential for the development of novel therapies.
“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,” Noga Leviner, the CEO of PicnicHealth, said in a company press release.
Intent is to ‘empower patients, and accelerate treatment development’
“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,” Leviner added.
Being diagnosed with a disease, especially a rare disease, often entails the need for different consultations, and a panoply of exams. Maintaining this information in an up-to-date and organized fashion means consulting a network of clinical sites, an expensive, burdensome, and time-consuming approach.
Patients also can be challenged in accessing all of their medical records, limiting their control over their care.
Following authorization from a patient, PicnicHealth engages directly with their healthcare facilities and providers to collect all of the patient’s medical records, including lab results, doctor’s notes, patient-reported outcomes, imaging scans, and other exams.
After being digitalized, encrypted, and safety stored, collected data are organized in an intuitive timeline that can be easily consulted by the patient to monitor care, the company reports. The timeline also can be securely shared with their healthcare providers and family members.
Patient data, when stripped from personal information, also are used for research to help in better understanding a given disease and the needs of the patient community, advancing work into drug development.
AllStripes shares the same philosophy and model, but it is focused on people with rare diseases. Both companies work directly with patients, allowing for a unique view of healthcare that is centered on the individual.
“This deal builds on the premise that patient-centric evidence generation can empower patients and ultimately accelerate the development of new treatments,” said Nancy Yu, the CEO of AllStripes. “PicnicHealth will continue both companies’ work to harness the power of patient data to support biomedical research.”
Financial details of the acquisition were not disclosed. It follows a $50 million Series B financing round for AllStripes in 2021, and a $60 million Series C financing round for PicnicHealth in 2022.