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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