July 7, 2020: The trailblazer startup from New York has a plan to have a collaborative research and development model that works among the pharmaceutical companies and the hospitals and no actual data is shared. Investors- Bpifrance Large Venture, Cathay Innovation and, MACSF invested and helped the startup to raise a total of $25million in the recent funding. The company aims to build Owkin lab platform wherein data scientists, doctors, researchers login to the virtual lab to perform the research.
The Virtual lab would allow you to access all the databases of each other and perform the research required. The ultimate goal of the company is to get a better patient outcome. Owkin is focusing on companies to open up and share more databases and provide them a secure platform.
The data shared in the Owkin lab cannot be shared or used for any other purpose other than the research.
The large pool of data within the platform will help the companies to have better research and will help us to get a better outcome.
“We have a huge 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. “In the end, what it helps is developing better drugs.”
With additional financial raise, the company raised a total of $55 million after the extension of Series A funding.