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Sanofi Invests $180 Mln Equity In AI Startup Owkin To Develop Oncology Pipeline

French drug major Sanofi (SNYNF,SNY) announced Thursday an equity investment of $180 million and a new strategic collaboration with Owkin, a French American startup that specializes in artificial intelligence or AI and federated learning for medical research.

With the collaboration, the company aims to advance its oncology pipeline in core areas such as lung cancer, breast cancer and multiple myeloma. The deal comprises discovery and development programmes in four exclusive types of cancer.

The total payment would be $90 million for three years plus additional research milestone-based payments.

The collaboration agreement will allow Sanofi to work closely with Owkin in identifying new oncology treatments across four cancers.

Sanofi will leverage the comprehensive Owkin Platform, in order to find new biomarkers and therapeutic targets, building prognostic models, and predicting response to treatment from multimodal patient data.

The company said its investment will support Owkin's development and goal to grow the world's leading histology and genomic cancer database from top oncology centers.

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