A Boston based data analytics firm Palantir Technologies will partner with German pharma company Merck KGaA. The joint venture is called as Syntropy that will be using the expertise of the two organizations for advanced cancer research. Palantir Technologies will be offering cancer data analytics tools to the healthcare organizations.
The main concept behind the partnership is to create a roadmap that inculcates modern technology and different types of biomedical data. Such partnership helps in accelerating the pace of research advancements.
Syntopy’s technology is a Palantir’s developed tool that allows the user to structure and analyze data. Medical data can be from various types of sources and it can be overwhelming as medical trails require a long period of time. Syntropy can analyze data from any type of sources allowing the researchers to follow data safety and transparency protocol.
Merck KGaA Chairman and CEO Stefan Oschmann said in a statement “The success of science hinges on the ability to act on insights. Syntropy would facilitate the collaboration within the global scientific community. ”
Big Pharma companies are slowly making their moves towards data analytics acquisitions and investments. Over the past few years, we have seen many examples of it Roche’s $1.9 billion purchase of New-York based oncology Data Company. According to the last year tally of acquisitions and mergers, the healthcare sector totaled to 967 and with a combined cost of $175.2 billion.
