Merck KGaA and Palantir Technologies Launch Joint Venture Syntropy to Accelerate Cancer Research

Recently, VCBeat (WeChat: vcbeat) learned that German pharmaceutical company Merck KGaA and Silicon Valley data analytics firm Palantir Technologies (hereinafter referred to as “Palantir”) have announced the formation of a joint venture aimed at integrating their respective expertise to jointly conduct cancer research.

 Image source: Merck official website

Palantir, founded in 2004 and headquartered in the San Francisco area of Silicon Valley, USA, is a unicorn-level technology company specializing in healthcare and data analytics. It primarily provides data analysis software to organizations such as government intelligence agencies and financial services firms. The company gained prominence for successfully assisting the U.S. government in tracking down Osama bin Laden. Last year, Palantir entered into a collaborative agreement with Merck KGaA, with the initial focus on leveraging its data analytics platform to accelerate the development of cancer treatments.

The joint venture currently being established, named Syntropy and headquartered in Boston, Massachusetts, aims to provide cancer data analytics tools for healthcare organizations, including academic medical centers, biotechnology companies, and researchers. Its underlying rationale is to break down the silos existing within biomedicine to accelerate cancer research.

Syntropy plans to integrate Palantir’s Foundry data platform with MilliporeSigma, the life science business of Merck KGaA, to screen data for potential value creation. Syntropy will enable its users to build and analyze medical data obtained from various channels while safeguarding data ownership. The company also intends to leverage technological development to allow researchers to share data securely and transparently. Currently, MilliporeSigma employs more than 1,600 people.

Palantir’s Co-Founder and CEO, Alexander Karp, stated, “Many companies have attempted to achieve this, but all have failed.”

He also stated that executives at pharmaceutical companies and academic research centers frequently collect clinical trial data for drugs, but they fail to fully unlock the value of these data or compare them with information gathered by other institutions.

Major pharmaceutical companies have long demonstrated their interest in the field of data analytics, with the renowned pharmaceutical company Roche being one of them. Last year, it initiated two mergers and acquisitions, acquiring the New York-based oncology data analytics company Flatiron Health and the genomic analysis company Foundation Medicine for $1.9 billion and $2.4 billion, respectively.

Stefan Oschmann, Chairman and CEO of Merck KGaA, stated that Merck KGaA and Palantir will jointly establish Syntropy with a 50-50 equity contribution.

Palantir CEO Alexander Karp stated, “Harnessing the full power of scientific data is critical to advancing the fight against cancer. Syntropy is designed to help researchers collaborate securely to unlock the value of these data and deliver better solutions for patients.”

Palantir, founded in 2004 and headquartered in the San Francisco area of Silicon Valley, USA, is a unicorn-level technology company. It primarily provides data analysis software to organizations such as government intelligence agencies and financial services companies, and is renowned for assisting the U.S. government in tracking down Osama bin Laden.

Merck KGaA, founded in 1668 and headquartered in Darmstadt, Germany, boasts a history of more than 350 years, making it the world’s oldest chemical and pharmaceutical company. The company is primarily dedicated to innovative pharmaceuticals, life sciences, and cutting-edge performance materials technologies.