PicnicHealth, a patient-centered healthcare evidence generation company, today announced the acquisition of AllStripes, a platform dedicated to generating evidence about the rare disease community. This strategic consolidation establishes PicnicHealth as the leading patient-centric evidence generation partner within a rapidly evolving life sciences landscape.
PicnicHealth engages directly with patients to collect and curate comprehensive clinical data and patient-reported outcomes (PROs) to generate rich insights across patient healthcare journeys. Historically, generating such evidence has required the establishment of a network of clinical sites, which are expensive to operate, burdensome to patients and sites, and often lead to delays. PicnicHealth and AllStripes pioneered a new model by working directly with patients, which enables a deeper view of each patient's health and experience while reducing the challenges of traditional site-based studies. With AllStripes’ strong relationships across patient communities, PicnicHealth expands its footprint and enhances its ability to guide critical and deep evidence generation.
"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," said Noga Leviner, CEO of PicnicHealth. "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."
Through direct and long-term engagement with the PicnicHealth and AllStripes patient communities, PicnicHealth will expand and enhance solutions available to life sciences customers. The focus of the solutions will be making clinical research and registry development more effective and efficient.
"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, CEO of AllStripes. "PicnicHealth will continue both companies' work to harness the power of patient data to support biomedical research."
The acquisition follows AllStripes' $50 million Series B funding round in 2021 and PicnicHealth's $60 million Series C round in 2022.
Financial terms of the transaction are not disclosed.
PicnicHealth delivers on the future of evidence generation by putting patients at the heart of research. Through direct patient engagement and scientific expertise, PicnicHealth collects and curates comprehensive clinical data and PROs across the patient journey to generate uniquely robust insights. To learn more about why 80% of the top Biopharma companies partner with PicnicHealth or to view our 35+ publications, visit picnichealth.com.
Founded in 2017, AllStripes is a healthcare technology company dedicated to unlocking new treatments for people with rare diseases. AllStripes has developed a technology platform that generates research-ready evidence to accelerate rare disease research and drug development, as well as a patient application that empowers patients and families to securely participate in treatment research online and benefit from their own medical data.