Owkin Raises $80 Million In Partnership For Drug Trials
Drug discovery AI platform company Owkin has raised $80, partially from a Series B funding round as well as up-front feed for clinical drug trials, all from Bristol Myers Squibb.
Created on June 8|Last edited on June 8
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Using machine learning for drug discovery is all the rage right now, and Owkin follows the trend precisely. With a platform for AI-driven medical discovery, they combine the powers of ML with insights from world class experts in cancer to push for treatment. Not every person responds the same to any particular treatment, but their platform can make strides in finding the optimal treatment, as well as be used in the development of new drugs.
Owkin Connect, their software for federated learning of AI, lets you securely connect to decentralized multi-party datasets and train AI without needing to pool data.
Who's funding Owkin and where's the money going?
Owkin has secured a total of $80 million announced today from Bristol Myers Squibb. The money is split between a Series B funding round of around $50 million and the rest being from fees for using Owkin's technology on clinical trials for cardiovascular drugs. Owkin may also acquire more money depending on the trail progress.
The money will be going towards Owkin's continued expansion through the US and Europe, growing it's data network and developing their own pipeline for treatment.
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