Artificial Intelligence: Global Pharma Company Sanofi Invests $180M In French American AI Startup Owkin

https://dailyalts.com/wp-content/uploads/2021/11/mitosis-g57b775c34_640.jpg

Sanofi has also struck a three-year, $90 million, cancer-related research collaboration with Owkin.

Sanofi (NASDAQ: SNY) announced today an investment of $180 million in Owkin, a Paris-based startup that utilizes AI and federated learning for medical research. Owkin’s platform connects life science companies with academic researchers and hospitals to share deep medical insights for drug discovery and development. Additionally, as a part of its AI-empowered precision medicine activities, Owkin builds predictive biomedical AI models and robust data sets. (Sanofi)

Strategic AI collaboration

Sanofi also inked a strategic collaboration with Owkin for drug discovery and developmental research on four exclusive types of cancer.

Sanofi will pay $90 million for this three-year programme, plus additional payments based on achievement of research milestones.

“Sanofi’s investment in the company includes a three-year agreement that will help discover and develop new treatments for non-small cell lung cancer, triple negative breast cancer, mesothelioma and multiple myeloma,” said John Reed, M.D., Ph.D., Global Head of Research and Development, Sanofi. “This partnership will help accelerate our ambitious oncology program as we advance a rich pipeline of medicines to address unmet patient needs.”

“We believe that the future of precision medicine lies in technologies that can unlock insights from the vast amount of patient data in hospitals and research centers in a privacy-preserving and secure way,” said Thomas Clozel, M.D., Co-Founder and CEO at Owkin. “This landmark partnership with Sanofi will see federated learning used to create research collaborations at a truly unprecedented scale. The future of AI to transform how we develop treatments is incredibly bright, and we are proud to partner with Sanofi on this mission.”

Owkin is a unicorn

According to Reuters, Sanofi’s investment of $180 million gives it a 10 – 15% stake in Owkin, as revealed by company co-founder and CEO Thomas Clozel.

Though a valuation was not disclosed, Clozel confirmed Owkin had joined the ‘unicorn’ club.

This is the second deal this month involving a buyout or investment in a French AI startup. Earlier, Royal Philips (NYSE: PHG) acquired Paris-based Cardiologs for AI-based cardiac disgnostics.

Related Story: Philips Snaps Up Cardiologs For Its AI-Empowered Cardiac Diagnostics

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/11/hand-plus-btc-plus-india-colors.png
Digital Assets: India To Clamp Down On Cryptocurrencies Via Legislation By Year-End
November 24, 2021     Digital Assets, Latest News, News

The legislative agenda for the upcoming winter session of the Lok Sabha, the lower house of India’s parliament, shows that a bill titled “The Cryptocurrency and Regulation of Official Digital…

https://dailyalts.com/wp-content/uploads/2021/11/Klarna-HQ-in-Stockholm-scaled.jpg
FinTech: Klarna Launches “Pay Now” In The US, Klarna Card Soon To Follow
November 24, 2021     FinTech, News

Klarna, the Stockholm-headquartered fintech powerhouse last valued at $45.6 billion, has brought a “Pay Now” offering to consumers at retailers wherever Klarna is accepted. The company also announced a Klarna…

https://dailyalts.com/wp-content/uploads/2021/11/fb-default.b5dd38d9c4194731a32674e7e89fe658.jpg
Venture Capital: Agtech And Farmer-To-Farmer Platform FBN Raises $300M
November 24, 2021     ESG and Sustainability, News, Venture Capital

Farmers Business Network (FBN) is a farmer-to-farmer network launched in 2014 as an information source and for sharing of agronomic precision data. It now has thousands of farmer-members managing millions…

https://dailyalts.com/wp-content/uploads/2021/11/img13-2400.jpg
Venture Capital: Arc, Which Makes $300K Electric Boats, Snags $30M
November 24, 2021     News, Venture Capital

Arc, a startup led by former SpaceX engineers and developing electric boats, announced its $30 million Series A raise led by Greg Reichow, a former Tesla VP of Production, now…