Owkin has raised $254.1M in funding to date. Here are the top-line bullets you need to know.
Owkin, a clinical research platform for drug development, has raised $180M in a Series B round that drew participation from Sanofi Ventures.
How’s the company performing?
- New York-based Owkin builds predictive biomedical AI models and datasets to help optimize clinical trial design and detect predictive biomarkers for diseases.
- It provides access to around 70 predictive models and 40 unique global datasets.
- The platform helps life science companies connect with researchers and hospitals to gain medical insights for drug development.
- The company works with 17 cancer centers and research institutions, including HealthChain and MELLODDY, across the US and Europe.
- Owkin, which is currently supported by a team of 110 employees, maintains headquarters in Paris and New York.
Why does the market matter?
- The global clinical trials market is projected to grow at a CAGR of 5.7% and reach a value of $69.3B by 2028, according to Grand View Research.
- Increasing occurrences of chronic diseases, the need for personalized medication, accelerated technological evolution, and the globalization of clinical trials are some of the key factors contributing to the market’s growth.
- AI has proven to help better identify patients for clinical trials, speed up clinical trials, and help bring drugs to market faster.