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Owkin raises $25 million as it builds a secure network for healthcare analysis and research

Imagine a pattern of collaborative research and development among infirmaries, pharmaceutical companies, universities and other investigate conservatories where no one shared any actual data.

That’s the dream of the brand-new New York-based startup Owkin, which has raised $ 25 million in fresh financing from investors, including Bpifrance Large Venture, Cathay Innovation and MACSF( the French Pension Fund for Clinicians ), alongside previous investors GV , F-Prime Capital and Eight Roads.

The company’s pitch is that data scientists, clinical physicians, academics and pharmaceutical companies can all log in to the virtual lab that Owkin calls the Owkin Studio.

In that virtual situation, all parties can access anonymized data sets and frameworks exclusively to refine their own research and development and studies to ensure that the most cutting-edge insights into tale biomarkers, mechanisms of action and predictive sits inform the work that all of the relevant parties are doing.

The ultimate goal, the company said, is to improve patient outcomes.

In its crusade to get more corporations and establishments to open up and share information — with the promise that the information can’t be obtained or used in a way that isn’t allowed by the owners of the data — Owkin is replicating study that other companionships are pursuing in battlefields straying from healthcare to financial services and beyond.

The Israeli company Qedit has developed same technologies for the financial services sector, and Sympatic, a recent alumnu from one of the most recent batches of Techstars corporations, is working on a same technology for the healthcare industry.

Owkin realizes money by enabling remote access to the data sets for pharmaceutical companies and licensing the poses developed by universities to those companies. It’s a way for the company to entice researchers to join the platform and supply another revenue stream for experiment institutions who have viewed their funding decline over the last 40 years.

” We have a huge loop-the-loop of academic universities that have access to the data and are developing algorithms and we share data ,” said the company’s chief executive Dr. Thomas Clozel.” At the end what it helps is developing better stimulants .”

Declines in federal funding for scientific research since the 1980 s( Image courtesy of The Conversation)

The investment from Owkin’s new and existing investors takes the company to $ 55 million in total asset conjured through the extension of its Series A round. In all, the round totaled $52 million, Clozel said.

” We are exactly where we need to be because it’s about privacy and privacy is most important than ever before ,” said Clozel.

The COVID-1 9 epidemic has emphasized the need for closer collaboration among different corporations and research practices, and that has also increased demand for the company’s technology.” It touches everything … We have access to the right data sets and cores to build the best sits for COVID ,” said Clozel.” We’re lucky to have the right traction before the COVID happens and we have the right research that has been done .”

In fact, the company has propelled the Covid-1 9 Open AI Consortium( COAI ), and is using its scaffold to advance collaborative research and accelerate clinical development of effective cares for cases newly infected the coronavirus, the company said. All of its findings will be shared with the global medical and scientific communities.

The initial focus on the research is on cardiovascular complications in COVID-1 9 cases in collaboration with CAPACITY, an international registry working with over 50 hubs worldwide, the company said. Other areas of research will include patient outcomes and triage, and the prophecy and characterization of immune response, according to Owkin.

“Since we first backed Owkin in 2017, we have been sharing its vision to apply AI to fighting one of the most atrocious ailments on earth: cancer ,” said Jacky Abitbol, development partners at Cathay Innovation.” Owkin has risen to become a leader in digital health, we are proud to grow our investment in the company to fuel its ambition to pioneer AI for medical research, while at the same time preserving patient-privacy and data security.”

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