France: Owkin closes Series A funding at US$70m

Thomas Clozel, co-founder and chief executive, Owkin

French healthtech company Owkin has raised US$18m from Mubadala Capital and Bpifrance in follow on financing to close its Series A funding at US$70m.

Founded in 2016, Owkin applies decentralised machine learning to medical research.

Mubadala joins existing Series A investors Bpifrance, Cathay Innovation, MACSF – the French Pension Fund for  Clinicians, GV, F-Prime Capital, Eight Roads, Frst and NJF Capital.

“We are changing the world of medical research by breaking down silos and augmenting research capabilities at scale. Numerous discoveries of new multimodal biomarkers and disease mechanisms are changing how pharmaceutical companies approach drug development and how clinicians design treatment plans for patients,” said co-founder and chief executive Thomas Clozel.

Through its application of technology, Owkin enables researchers to draw insights from fit-for-AI cohorts, highly curated, multimodal, research-grade longitudinal data, while keeping patient information preserved safely within the hospital’s local infrastructure. Owkin’s proprietary platform, Owkin Studio, integrates these biomedical images, genomics, and clinical data to discover biomarkers and mechanisms associated with disease evolution and treatment outcomes that will propel the next generation of pharmaceutical drugs. Ultimately, this method can result in an acceleration of the clinical research process that offers protected data for patients, exhaustive traceability of computations for institutions, and maximum collaboration for researchers.