PALO ALTO, Calif., Nov. 10, 2020 /PRNewswire/ -- Varian (NYSE:
VAR) today announced a new $10M
investment and collaboration agreement with COTA, Inc., a
Boston-based curator of clinical
data in oncology. Both companies will work together to
empower cancer clinics with data analytics and decision support
tools, using real-world evidence to help guide clinical and
operational decisions as well as drive more cost-effective
Under the agreement, Varian will offer its customers access to
COTA's oncology real-world analytics and data curation services,
which aggregate fragmented and often incomplete electronic health
record (EHR) data to tease out meaningful insights. At the same
time, COTA will help Varian create better Intelligent Cancer Care™
tools for decision support using real world evidence.
Varian, through its Intelligent Cancer Care initiative, is
working to create a technology ecosystem that connects clinicians
and patients into a global continuously learning system that is
fueled by information, driven by collaboration and accelerated by
artificial intelligence (AI) to improve outcomes.
"This agreement with COTA represents a huge win for our two
companies, and also for oncology care providers and researchers,"
said Corey Zankowski, Senior Vice
President, Oncology Software Solutions. "We believe COTA's
proprietary technology, advanced analytics, and deep expertise in
organizing complex data will make a significant step toward
realizing the goals of Intelligent Cancer Care," Zankowski
"We are excited to partner with Varian to advance our shared
goal of improving outcomes for cancer patients," said Mike Doyle, CEO of COTA. "This
collaboration allows Varian to leverage our expertise using
oncology real-world data while providing COTA with new capital to
expand our work with life science companies around the
Varian made two prior investments in COTA earlier this year.
This latest investment brings the total amount invested to
$20M, in the form of a convertible
loan with an option to acquire the company at a future date.
At Varian, we envision a world without fear of cancer. For more
than 70 years, we have developed, built and delivered innovative
cancer care technologies and solutions for our clinical partners
around the globe to help them treat millions of patients each year.
With an Intelligent Cancer Care approach, we are harnessing
advanced technologies like artificial intelligence, machine
learning and data analytics to enhance cancer treatment and expand
access to care. Our 10,000 employees across 70 locations keep the
patient and our clinical partners at the center of our thinking as
we power new victories in cancer care. Because, for cancer patients
everywhere, their fight is our fight. For more information, visit
http://www.varian.com and follow @VarianMedSys on Twitter.
About COTA, Inc.
Founded by doctors, engineers and data scientists, COTA is
committed to bringing a patient first approach to cancer care
through the use of real-world data. The Company organizes
fragmented, often hidden data from the real world to provide
clarity in cancer care. Combining clinical expertise in cancer with
proprietary technology and advanced analytics, COTA's platform
helps inform decisions and action in oncology. COTA partners with
providers, payers, and life science companies to ensure that
everyone touched by cancer has a clear path to the right care. To
learn more about COTA and how to make better decisions with the
right data, visit cotahealthcare.com.
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties. The statements are
based upon management's current expectations and are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those anticipated. Statements
regarding industry outlook; the expectations, plans and prospects
for the companies, including potential clinical applications and
results, anticipated regulatory submissions and approvals and
future product launches; projected financial results; and any
statements using the terms "will," "may," "promise," "potential,"
"objective," "improve," or similar terms are forward-looking
statements that are based upon current expectations and are subject
to certain risks and uncertainties that could cause actual results
to differ materially from those anticipated. These risks and
uncertainties include market conditions the companies' ability to
meet Food and Drug Administration (FDA) and other regulatory
requirements for product clearances or to comply with FDA and other
regulatory regulations or procedures, changes in the regulatory
environment, including with respect to FDA requirements, and other
factors beyond the companies' control. For Varian, the risks and
uncertainties include the other risks listed from time to time in
its filings with the Securities and Exchange Commission, which by
this reference are incorporated herein. Neither Varian nor
COTA assumes an obligation to update or revise the forward-looking
statements in this release because of new information, future
events or otherwise.