Recently in a press release, Novartis announced the impact of digital health on the life science value chain from discovery through clinical trials to commercialization. Novartis has responded with the creation of Novartis Biome—state-of-the-art workspace, mentorship and resources that are present with all incubators. However, Novartis brings a “new twist” to the digital health start up world—it’s treasure trove of data in validation studies entrepreneurs can utilize and run in real clinical settings to shape and design proof-of-concept studies.
It is a smart move. Novartis correctly points out that many digital health upstarts fail to have the appropriate impact due to gaps in the ecosystems they participate in. By offering a flexible yet turnkey program designed around real-world data Novartis first and foremost gives ventures an opportunity to plug-in-and-play with one of the world’s largest pharmaceutical and biotech companies. Secondly, it provides Novartis a pipeline of companies, models, entrepreneurs and talent to study and explore how emerging digital health models, technologies and breakthroughs can be transformative for the company.Source: Novartis