OWKIN, a French predictive analytics company working on medical data, has raised $11 million in funding led by Otium Venture. Cathay Innovation, Plug and Play, and NJF Capital also participated in the Series A round.
The company develops OWKIN Socrates, a predictive analytics and machine learning platform for pharmaceutical researchers to analyse large amounts of medical data and enhance drug development.
The technology is “respectful of a patient’s data privacy” while being thorough enough to discover “underlying disease mechanisms” and new therapies, said CEO Thomas Clozel.
It will invest in further development of the platform and build new partnerships with healthcare organisations.
“This capital gives us additional resources to expand quickly and strategically, and we plan to use these funds to build out our internal discovery team, secure additional strategic partners, and accelerate our pace of product innovation by further strengthening the capabilities of our AI-driven platform, OWKIN Socrates,” said Clozel.
Bruno Raillard, partner at Otium Venture, will join OWKIN’s board of directors as part of the investment.