France's Owkin raises $11M Series A for AI-aided drug development; AstraZeneca expands discovery deal with X-Chem
→ Riding on the artificial intelligence buzz in clinical research, Owkin has completed a $11 million Series A funding round for its predictive analytics business, led by France’s Otium Venture with support from existing investor NJF Capital as well as a few tech funds, including Cathay Innovation and Plug and Play. The Paris-based company utilizes transfer learning — a domain of AI — to accelerate drug discovery and development. It plans to channel the funds into partnerships, internal growth and scaling its platform Owkin Socrates, which analyzes molecular/imaging libraries and patient datasets to detect disease-causing biomarkers patterns. Otium partner Bruno Raillard will join Owkin’s board of directors.
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