Merck, a leading science and technology company, and software company Palantir Technologies, today announced their intent to form a joint venture under the brand name Syntropy. Syntropy is expected to empower scientists and research centers with a collaborative technology platform to advance cancer research, help drive scientific discovery, and improve human lives.
Research institutions around the world are generating a rapidly growing amount of biomedical data, but much of it is trapped in silos within and between institutions. Today, this critical data is often inaccessible to the scientists and clinicians who need it to advance their work. Syntropy aims to unlock the value of this untapped data, enabling the world's leading experts to collaborate in the fight against cancer and many other diseases.
"The success of science hinges on the ability to act on insights," said Stefan Oschmann, Chairman of the Executive Board and CEO of Merck. "We expect Syntropy to facilitate collaboration within the global scientific community, in order to drive breakthrough innovation in cancer research."
"Unlocking the power of scientific data is critical to advancing the fight against cancer," said Alexander Karp, Palantir co-founder and CEO. "Syntropy aims to help researchers collaborate securely to realize the value of this data, driving discoveries that will deliver better treatments to patients faster."
Syntropy's user-centric data integration platform is powered by Palantir Foundry, which allows users to structure and analyze data from disparate sources, enabling experts to more quickly act on novel research insights and advance patient care, while safeguarding data ownership. Syntropy is expected to also facilitate the secure, transparent sharing of data between participating researchers and institutions, creating an ecosystem that incentivizes collaboration and ultimately accelerates scientific discovery.
About Syntropy
Syntropy shall be a joint venture between a new subsidiary of Merck, which is independent from its existing healthcare, life science and performance materials business sectors, and Palantir Technologies, aimed at unlocking the value of scientific biomedical data. Syntropy is expected to serve as a catalyst for change in scientific research by equipping scientists with more intuitive and effective tools for unlocking the value of their data, while creating an ecosystem that brings together leading scientific experts to win the fight against cancer and countless other diseases. Syntropy is expected to be headquartered in Boston, MA. Merck and Palantir Technologies have signed a non-binding term sheet to initiate the creation of Syntropy.
About Merck
Merck, the vibrant science and technology company, operates across healthcare, life science and performance materials. Around 53,000 employees work to make a positive difference to millions of peoples’ lives every day by creating more joyful and sustainable ways to live. From advancing gene editing technologies and discovering unique ways to treat the most challenging diseases to enable the intelligence of devices - the company is everywhere. In 2017, Merck generated sales of € 15.3 billion in 66 countries.The company holds the global rights to the name and trademark "Merck" internationally. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Performance Materials. Since its founding 1666, scientific exploration and responsible entrepreneurship have been key to the company's technological and scientific advances. To this day, the founding family remains the majority owner of the publicly listed company.
About Palantir
Palantir Technologies is a software company that builds enterprise data platforms for organizations with highly complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combatting terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Palantir is headquartered in Palo Alto, with major offices in New York, Washington, D.C., London, Paris, and Munich.