New York-based startup Owkin has raised $25 million in fresh financing from investors, together with Bpifrance Large Venture, Cathay Innovation, and the French Pension Fund for Clinicians (MACSF), alongside earlier investors GV, F-Prime Capital and Eight Roads.
The company’s pitch is that data scientists, clinical doctors, academics, and pharmaceutical companies can all log in to the digital lab that Owkin calls the Owkin Studio.
In that digital setting, all events can access anonymized data units and fashions exclusively to refine their own analysis and development and studies to make sure that the most cutting-edge insights into novel biomarkers, mechanisms of action, and predictive models inform the work that all of the related parties are doing.
In its quest to get more companies and institutions to open up and share data — with the promise that the knowledge can’t be extracted or utilized in a method that isn’t allowed by the owners of the data — Owkin is replicating work that different corporations are pursuing in fields ranging from healthcare to financial companies and beyond.
The Israeli firm Qedit has developed related technologies for the monetary services industry, and Sympatic, a recent graduate from one of the latest batches of Techstars companies, is engaged in similar technology for the healthcare industry.
Owkin makes cash by enabling remote access to the info units for pharmaceutical corporations and licensing the models developed by universities to these companies. It’s a method for the company to entice researchers to join the platform and provide another income stream for research establishments who’ve seen their funding decline over the past four decades.