Milltrust International Group subsidiary Milltrust Ventures has announced plans to invest in health insights exchange platform Oncoshot.
As part of the investment, Milltrust Ventures chief scientific officer Dr Bernard Ng will join Oncoshot’s advisory board this month.
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Oncoshot tackles cancer clinical trial inefficiencies using its clinical trial matching artificial intelligence (AI) technology.
The platform acts as a link between top regional healthcare institutes and contract research organisations (CROs) and worldwide biotechnology and pharmaceutical firms to enable data-driven cancer trials.
It also aids in expediting enrolment into such cancer trials that are actively recruiting participants.
The Oncoshot platform sorts through more than 100,000 de-identified profiles of patients across its three markets in the initial stage to deliver suitable hospital-approved real-time leads for trials rapidly.
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By GlobalDataIf carried out traditionally, this process could take weeks to months.
The strategic investment permits Milltrust to take part in financing rounds of Oncoshot in the future.
The investment firm will also help Oncoshot with early market engagement between industry collaborators and healthcare systems in Asia-Pacific.
Furthermore, Milltrust will aid Oncoshot in extending business in Australia and India.
In these countries, Oncoshot has already secured collaborations with top cancer institutions, as well as early marketing from top pharmaceutical firms and CROs.
Dr Ng said: “We see the value this health insights platform can bring to the field of cancer clinical trials globally and Oncoshot’s potential in bringing this system to fruition.
“Starting with enabling patients to be matched with trials in near real-time and at a later stage, generating insights from the wealth of data for real-world evidence to help the way we fight cancer on a population and individual level.”
