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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Postmarket

Last Trade
Delayed
$35.49
-0.04 (-0.11%)
Bid
--
Ask
--
B/A Size
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Market Hours

Closing Price
$35.53
Day's Change
-0.26 (-0.73%)
Bid
--
Ask
--
B/A Size
--
Day's High
35.94
Day's Low
35.50
Volume
(Light)
Volume:
41,129,064

10-day average volume:
56,491,969
41,129,064

Target RWE Acquires NoviSci Inc., Adding Significant Analytical Capabilities to Leading Real-World Evidence Platform

4:30 am ET January 15, 2021 (BusinessWire) Print

Target RWE, a leading real-world evidence (RWE) solutions company for the pharmaceutical and biotech industries based in Durham, North Carolina, today announced the acquisition of NoviSci, Inc., a software analytics and services company whose innovative technologies enable the visualization and analysis of health data using modern epidemiological methods and sound scientific principles. The acquisition significantly broadens Target RWE's data analytics capabilities and will enable the company to meet increasing demand for high quality evidence from real-world data.

Related to this acquisition, Amgen Inc., a strategic investor in and collaborator with NoviSci, has also made a strategic investment in the combined company to fuel growth, joining existing Target RWE investors Norwest Venture Partners and 22C Capital. This expanded partnership further validates the importance of real-world data on a global scale and the differentiated capabilities and solutions that Target RWE and NoviSci offer together. Financial terms of the transactions were not disclosed.

Neal Bibeau, Chief Executive Officer of Target RWE, said, "Target RWE's proven real-world data and evidence solutions continue to grow in breadth, depth and value for our research and industry partners. With the addition of NoviSci's novel analytics platform and experienced team, Target provides a highly adaptive environment to accelerate insights and reproducible research output from real-world data to various stakeholders in the healthcare ecosystem, including our pharmaceutical industry partners, healthcare investigator partners, government agencies and payor organizations."

"Now more than ever, real-world evidence solutions are transforming healthcare. Our expanding longitudinal, observational data augmented with new sources of data allow for deep characterization of patient journeys across a broad range of diseases and treatments," added Michael W. Fried, MD, FAASLD, Chief Medical Officer and Co-founder of Target RWE. "NoviSci's expertise and novel analytical software complements our leading real-world evidence platform, and we look forward to integrating these products to enable accelerated growth in our industry."

Durham-based NoviSci, Inc. applies epidemiologic methods and causal inference techniques from the fields of epidemiology and statistics to complex real-world data to support its partners in research and industry. NoviSci has built a novel repository of rigorously developed interactive real-world studies that can be adapted to new datasets and populations. All study results are rendered in NoviSci's secure web-based environment, featuring interactive content and compelling data visualizations that can be updated with accumulating data. NoviSci's tools also support all critical aspects of scientific knowledge production, peer review, and sharing.

M. Alan Brookhart Ph.D., Co-Founder and Chief Scientist of NoviSci and Professor of Population Health Sciences at Duke University, said, "We are delighted to have the opportunity to apply our analytic technology to Target RWE's unique data assets and to provide timely, relevant, and useful answers to important questions posed by stakeholders across the healthcare ecosystem."

Aaron McKethan, Co-Founder and CEO of NoviSci added, "Our goal is to make it easier and faster to answer important questions in health care that result in better outcomes for people and populations. We have sought to use technology to bring the craft of scientific expertise to greater scale, particularly as research methods and data sources have become more complex."

About Target RWE

Headquartered in Durham, NC, Target RWE is an innovative health evidence solutions company generating real-world evidence (RWE) and delivering regulatory-grade data to partners to advance clinical, medical, and commercial outcomes as well as to improve patient health guidelines and quality of care.

Target RWE designs custom data sets, analyses, and evidence to address the complexities of healthcare evidence questions and quality initiatives. Target RWE has developed a turnkey health evidence solution which rapidly aggregates real-world data (RWD) from a large network of participating sites (academic and community) across the United States, Europe, and other non-U.S. locations. Target RWE's data sets are aggregated from various data sources including registries, electronic medical records, patient outcomes measures, biospecimen analyses, and claims databases. Target RWE is backed by Norwest Venture Partners, 22C Capital and other strategic investors.

Visit www.targetrwe.com for more details.

About NoviSci Inc.

Headquartered in Durham, NC, NoviSci's mission is to use principled data science to improve population health outcomes for vulnerable patients with complex conditions. The company's novel analytic applications facilitate the efficient deployment of complex research methods from epidemiology and statistics as well as intuitive, interactive visualization of complex results from real-world studies. NoviSci's founders and leaders continue to hold faculty appointments, including at the Duke University School of Medicine and the University of North Carolina at Chapel Hill. NoviSci previously received seed investment from Amgen Ventures and Hatteras Venture Partners and is based in the American Underground campus in downtown Durham, NC.

Visit www.novisci.com for more details.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210115005063/en/

SOURCE: Target RWE

Media Contact: 
Gagnier Communications
Dan Gagnier / Jeffrey Mathews
646-569-5897
TargetRWE@gagnierfc.com
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