NEW YORK (GenomeWeb) – Healthcare informatics and analytics company Cancer Outcomes Tracking and Analysis (COTA) announced today that it has received investments from Celgene, Novartis, Foundation Medicine, and health management consultant firm HealthScape Advisors.
The company declined to disclose the amount of the investments.
COTA touted the cross-industry nature of its various funders, and said the most recent investors join Hackensack University Health Network, Horizon Blue Cross Blue Shield of New Jersey, Med-Metrix, and oncology practice Regional Cancer Care Associates. The firm said it aims to reduce the amount of money wasted in the US each year on inappropriate or unnecessary treatments through the use of its COTA Nodal Address classification system, which categorizes patient factors, types of diseases, and intended therapies.
"It is a great validation that leading companies Celgene, Foundation Medicine, HealthScape, and Novartis support COTA's mission and share our commitment to improving the health and well-being of patients," said COTA CEO Eric Schultz in a statement. "Our unique approach and real-world platform help physicians optimize treatment, ultimately facilitating the transition to value-based medicine, and help to ensure the right care for every patient, every time."
The company has signed a number of research partnerships to further its goal. In November 2014, COTA partnered with Foundation Medicine to analyze genomic information, clinical outcome, and cost data from patients whose tumors have been tested with FoundationOne. The firm also signed a collaboration agreement with Caris Life Sciences in April 2015 to measure the health and economic impact of the Caris Molecular Intelligence panomic tumor profiling service for cancer patients, and a collaboration with Guardant Health in March 2016 to study the barriers preventing non-small cell lung cancer patients from having their cancer's driver mutations genomically profiled in community settings.