Owkin, a biotech startup focused on using AI to accelerate drug discovery, secured $304.1 million in Series B funding in July 2024. Based in New York, Owkin’s mission is to personalise treatment for patients by developing AI-driven diagnostic tools and identifying new drug candidates.
Owkin’s technology uses AI to analyse vast amounts of medical data, helping to identify patterns that could lead to the discovery of new treatments. The company’s approach is particularly valuable in oncology, where it’s helping to accelerate the development of cancer treatments.
“Our goal is to revolutionise the way we discover and develop new drugs,” said Gilles Wainrib, co-founder and CEO of Owkin. “By using AI, we can find patterns in medical data that might otherwise be missed, speeding up the drug discovery process and ultimately improving patient outcomes” (Startup Savant).
With investors like Bristol Myers Squibb and Sanofi backing Owkin, the company is set to make a major impact in the biotech sector. “Owkin’s use of AI in drug discovery is groundbreaking. Their technology has the potential to bring new treatments to market faster and more efficiently than ever before,” commented a representative from Bristol Myers Squibb (Startup Savant).
