Onco-Innovations Limited and Redwood AI, along with Canada's Michael Smith Genome Sciences Centre and Centre de recherche du CHU de Québec-Université Laval, have been awarded a competitive Digital Health Innovation Fund grant administered by the Terry Fox Research Institute. The grant will support the development of the Onco SynoGraph AI-driven oncology platform, according to a press release disseminated on behalf of Onco-Innovations Limited.
The reimbursement-based grant covers up to 25% of an estimated $3.5 million project budget. The project aims to advance SynoGraph using federated learning and causal AI to predict first-in-human clinical outcomes from preclinical studies and real-world clinico-genomic data. This approach could significantly reduce the time and cost of bringing new cancer therapies to patients by improving the accuracy of preclinical predictions.
Redwood AI will contribute proprietary data integration and physicochemical modelling methods, while the academic partners will provide clinico-genomic and imaging data. Onco-Innovations will contribute its causal AI methods and federated pipeline development. The collaboration leverages the unique strengths of each partner to create a robust platform for oncology drug development.
For investors, the grant validates the potential of Onco-Innovations' technology and provides non-dilutive funding for a significant research initiative. The company's shares trade under the symbols ONCO, ONNVF, and W1H. The latest news and updates relating to ONNVF are available in the company's newsroom at https://ibn.fm/ONNVF. To view the full press release, visit https://ibn.fm/ySIj9.
The announcement was disseminated through BioMedWire, a specialized communications platform focused on the biotechnology, biomedical sciences, and life sciences sectors. BioMedWire is part of the Dynamic Brand Portfolio at IBN, which offers access to a vast network of wire solutions via InvestorWire, editorial syndication to 5,000+ outlets, social media distribution, and a full array of tailored corporate communications solutions.
This grant is important because it supports the development of AI tools that could streamline oncology research, potentially leading to faster and more effective treatments. It also highlights the growing role of artificial intelligence in healthcare and the value of collaborative efforts between industry and academia. For the biotechnology sector, successful outcomes from this project could demonstrate the viability of federated learning and causal AI in drug development, encouraging further investment and innovation in the field.
