OASYS NOW wins €1M in Slush 100 competition

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There's snow and lots of amazing startups — and, of course, the infamous Slush 100 startup competition, where startups compete for a cool €1 million in funding. \r\nToday, Tech.eu was granted an exclusive interview with OASYS NOW, the winner of Slush 100.\r\nNetherlands startup OASYS NOW is on a mission to make personalised healthcare and precision medicine accessible to all. \r\nThe company is currently focused on cardiology, rare diseases, and…","articleSection":"Medtech","articleBody":"I've spent the last few days at Slush in Helsinki. There's snow and lots of amazing startups — and, of course, the infamous Slush 100 startup competition, where startups compete for a cool €1 million in funding. \r\nToday, Tech.eu was granted an exclusive interview with OASYS NOW, the winner of Slush 100.\r\nNetherlands startup OASYS NOW is on a mission to make personalised healthcare and precision medicine accessible to all. \r\nThe company is currently focused on cardiology, rare diseases, and…","wordCount":1012,"timeRequired":"PT6M","author":{"@type":"Person","name":"Cate Lawrence"},"publisher":{"@type":"Organization","name":"Tech.eu","logo":{"@type":"ImageObject","url":"https:\/\/cdn.tech.eu\/uploads\/2022\/10\/techeu_logo_light.png","width":220,"height":55}},"thumbnailUrl":"https:\/\/cdn.tech.eu\/uploads\/2024\/11\/download-7-1-219.jpg","image":{"@type":"ImageObject","url":"https:\/\/cdn.tech.eu\/uploads\/2024\/11\/download-7-1-219.jpg","width":1280,"height":720}}</script> <script> window.lazySizesConfig = window.lazySizesConfig 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<div class="dropdown dropright no-drop-icon"> <i class="icon-md icon-three-dots dropdown-toggle" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false"></i> <div class="dropdown-menu" aria-labelledby="dropdownMenuButton"> <a class="dropdown-item" title="Send email" href="/cdn-cgi/l/email-protection#546b2721363e313720691b15070d07741a1b0374233d3a2774b6d6f86519743d3a74073821273c7465646474373b392431203d203d3b3a72363b302d693c202024276e7b7b2031373c7a31217b666466607b65657b66657b3b35272d27793a3b2379233d3a27793121266539793d3a79273821273c7965646479373b392431203d203d3b3a7b">Send email</a> <a class="dropdown-item copy-clipboard" data-content="https://tech.eu/2024/11/21/oasys-now-wins-eur1m-in-slush-100-competition/" title="Copy link">Copy link</a> </div> </div> </div> </div> </div> </div> <div class="col-12 col-md-8">  <div class="single-post-content"> <p><span data-preserver-spaces="true">I've spent the last few days at Slush in Helsinki. There's snow and lots of </span><span data-preserver-spaces="true">amazing</span><span data-preserver-spaces="true"> startups — and, of course, the infamous Slush 100 startup competition, where startups compete for a cool €1 million in funding. </span></p> <p><span data-preserver-spaces="true">Today, Tech.eu was granted an exclusive interview with OASYS NOW, the winner of </span><a href="https://tech.eu/2023/12/01/faircado-wins-eur1-million-in-slush-100/" target="_blank"><span data-preserver-spaces="true">Slush 100</span></a><span data-preserver-spaces="true">.</span></p> <p><span data-preserver-spaces="true">Netherlands startup OASYS NOW </span><span data-preserver-spaces="true">is on a mission</span><span data-preserver-spaces="true"> to make personalised healthcare and precision medicine accessible to all. </span></p> <p><span data-preserver-spaces="true">The company is currently focused on cardiology, rare diseases, and multiple chronic diseases. It has developed an AI-powered clinical trial patient identification and recruitment platform for hospitals, doctors, and research nurses who find patients eligible for medical research studies.</span></p> <p><span data-preserver-spaces="true">It meta-crawls research trial criteria and provides healthcare providers with checklists that can be cross-matched with EHRs to find trial options. </span><span data-preserver-spaces="true">This</span><span data-preserver-spaces="true"> automates a large chunk of the time spent trawling </span><span data-preserver-spaces="true">through</span><span data-preserver-spaces="true"> research eligibility criteria for individual studies. </span></p> <p><span data-preserver-spaces="true">Oasys Now will go on to secure an equity investment of €1,000,000 from <a href="https://tech.eu/2024/11/18/goodstack-secures-28m-from-general-catalyst/" target="_blank">General Catalyst</a> and <a href="https://tech.eu/2024/11/04/plato-raises-65m-for-ai-based-erp-automation-platform/" target="_blank">Cherry Ventures</a>. Cherry Ventures, Europe’s leading early-stage VC guided by its “founders first” ethos, joins as a Slush 100 partner for the first time this year. General Catalyst, a returning partner since 2022, is renowned for its commitment to visionary founders and long-term growth. </span></p> <p><span data-preserver-spaces="true">Last year’s winner, <a href="https://tech.eu/2023/12/01/faircado-wins-eur1-million-in-slush-100/" target="_blank">Faircado</a>, has since gone on to <a href="https://tech.eu/2024/05/29/faircado-raises-eur3m-for-ai-powered-resale-shopping-extension/" target="_blank">raise €3 million</a> - exemplifying the transformative potential of this award.</span></p> <p><span data-preserver-spaces="true">I spoke to OASYS NOW </span><span data-preserver-spaces="true">co-founders,</span><span data-preserver-spaces="true"> CEO Nima Salami and CTO Sara Okhuijsen. </span></p> <p><em>You can also check out our <a href="https://tech.eu/2024/01/04/oasys-now-pioneering-patient-centric-health-solutions-for-rare-diseases/" target="_blank">earlier</a> interviews with <a href="https://tech.eu/2024/06/24/from-months-to-minutes-oasys-now-streamlines-patient-recruitment-for-clinical-trials/" target="_blank">OASYS NOW</a> CEO Nima Salami. </em></p> <h2>Research participant shortages hamper medical innovation</h2> <p><span data-preserver-spaces="true">When it comes to new modes </span><span data-preserver-spaces="true">and</span><span data-preserver-spaces="true"> healthcare treatment and drug discovery, many innovations are thwarted in the early stages. </span><span data-preserver-spaces="true">Not</span><span data-preserver-spaces="true"> due to the science but a lack of research participants.</span><span data-preserver-spaces="true"> </span></p> <p><span data-preserver-spaces="true">According to Salami, around 80 per cent of trials fail to meet the initial enrollment target and timeline, and these delays can result in lost revenue of up to $8 million per day for drug-developing companies. </span></p> <p><span data-preserver-spaces="true">OASYS NOW is building the EU's first AI-powered Patient Recruitment platform for Clinical Trials. It consists of two main products:</span></p> <ol> <li><strong><span data-preserver-spaces="true">GRIP </span><span data-preserver-spaces="true">app:</span></strong><span data-preserver-spaces="true"> This</span><span data-preserver-spaces="true"> app empowers individuals to take control of their health data. Users can gain personal health insights and discover relevant clinical trials, accelerating </span><span data-preserver-spaces="true">access to treatments</span><span data-preserver-spaces="true">.</span></li> <li><strong><span data-preserver-spaces="true">ELaiGIBLE Platform:</span></strong><span data-preserver-spaces="true"> This platform streamlines the process of identifying eligible patient cohorts for clinical trials, reducing the time from months to minutes for trial sites (hospitals and clinics) and Clinical Research Officers (CROs). Health professionals can connect with multiple clinical trial </span><span data-preserver-spaces="true">databases,</span><span data-preserver-spaces="true"> and identify relevant trial options with </span><span data-preserver-spaces="true">the click of</span><span data-preserver-spaces="true"> a button. Health data </span><span data-preserver-spaces="true">is automatically matched</span><span data-preserver-spaces="true"> to clinical trial eligibility criteria, so their patients get personalised matches.</span></li> </ol> <h2>From heart disease to immunology</h2> <p><span data-preserver-spaces="true">The company has expanded its reach from primarily heart conditions to brain-related diseases such as Alzheimer's, Parkinson's, and Dementia </span><span data-preserver-spaces="true">as</span><span data-preserver-spaces="true"> well as immunology. Okhuijsen notes that </span></p> <p><span data-preserver-spaces="true">"The technology is </span><span data-preserver-spaces="true">very easy</span><span data-preserver-spaces="true"> to adapt to different therapeutic areas. So we're just identifying where the most needs are and which clients can quickly adopt our technology."</span></p> <h2>Making new tech accessible to healthcare providers is key</h2> <p><span data-preserver-spaces="true">Gaining traction in the healthcare sector is </span><span data-preserver-spaces="true">no easy</span><span data-preserver-spaces="true"> task.</span><span data-preserver-spaces="true"> OASYS NOW patient-centric üprivacy design approach has attracted interest from healthcare professionals. </span></p> <p><span data-preserver-spaces="true">Okhuijsen asserts that one reason healthcare has been predominantly hesitant to adopt new technology is that "they weren't surrounded by people who could tell them what is possible now. So </span><span data-preserver-spaces="true">we</span><span data-preserver-spaces="true"> go where they are and share with them through public lectures and workshops. </span><span data-preserver-spaces="true">This</span><span data-preserver-spaces="true"> also gives people names and faces to the technology. They get to know us and see how we develop and evolve the tech over time. </span></p> <p><span data-preserver-spaces="true">Research recruiters and staff </span><span data-preserver-spaces="true">well</span><span data-preserver-spaces="true"> receive the AI assistant because it's very explainable.</span><span data-preserver-spaces="true"> According to Okhuijsen:</span></p> <blockquote> <p><span data-preserver-spaces="true">"Our algorithm, while seemingly complex, is designed to be user-friendly. It not only processes data but also provides clear explanations for its decisions. </span></p> <p><span data-preserver-spaces="true">This transparency empowers end-users to agree or disagree with the algorithm's recommendations and provide valuable feedback.</span></p> <p><span data-preserver-spaces="true">This approach contrasts sharply with traditional methods that rely on research nurses with advanced data science skills to write complex queries. </span></p> <p><span data-preserver-spaces="true">Our algorithm simplifies the process, making it accessible to </span><span data-preserver-spaces="true">a </span><span data-preserver-spaces="true">wider</span><span data-preserver-spaces="true"> range of</span><span data-preserver-spaces="true"> users."</span></p> </blockquote> <h2>The value of privacy by design</h2> <p><span data-preserver-spaces="true">OASYS NOW's technologies are built compliant-by-design and are thus fully GDPR compliant. An external party continuously monitors its ISO27001 compliance.</span></p> <p><span data-preserver-spaces="true">According to Salami, </span><span data-preserver-spaces="true">privacy-first</span><span data-preserver-spaces="true"> a choice. </span></p> <blockquote> <p><span data-preserver-spaces="true">"So it's transparency over the data you use and giving people a choice over how </span><span data-preserver-spaces="true">it should be used</span><span data-preserver-spaces="true">. We use the best data security possible to ensure the least amount of data </span><span data-preserver-spaces="true">is used</span><span data-preserver-spaces="true"> so that </span><span data-preserver-spaces="true">it's</span><span data-preserver-spaces="true"> not used</span><span data-preserver-spaces="true"> for purposes outside those agreed upon.</span><span data-preserver-spaces="true">"</span><span data-preserver-spaces="true"> </span></p> </blockquote> <p><span data-preserver-spaces="true">The company is also developing a third product that will enable genetic researchers worldwide to collaborate on large data sets without moving the data.</span></p> <p><span data-preserver-spaces="true">Salami shared: </span></p> <blockquote> <p><span data-preserver-spaces="true">"</span><span data-preserver-spaces="true">Every researcher, no matter where they are in the world, can learn from other researchers' data somewhere else. Without that data </span><span data-preserver-spaces="true">having</span><span data-preserver-spaces="true"> to move. </span></p> <p><span data-preserver-spaces="true">Moving data is expensive, but when you move data, you lose control over it.</span><span data-preserver-spaces="true">"</span></p> </blockquote> <p><span data-preserver-spaces="true">The company is tackling this through confidential federated learning with extra layers of security whereby the data is encrypted at rest and in transit."</span></p> <p><span data-preserver-spaces="true">This approach has attracted interest from NVIDIA and Google. According to Salami, it gives the team validation that "by prioritising privacy first, you can </span><span data-preserver-spaces="true">come up with</span><span data-preserver-spaces="true"> novel ideas of how things can </span><span data-preserver-spaces="true">be done</span><span data-preserver-spaces="true">, which wasn't possible before.</span></p> <p><span data-preserver-spaces="true">Hot on the heels of their win, the team at OASYS Now is full of praise for Slush. Okhuijsen notes that the competition is a very public VC pipeline. </span></p> <p><span data-preserver-spaces="true">"The top 20 startups go through a due diligence process which includes interviews with the VC patterns. So, it's a great funnel in a very professional, publicly known competition. </span></p> <p><span data-preserver-spaces="true">The funds will assist with expanding the team, especially engineers and salespeople, and will also help finance </span><span data-preserver-spaces="true">compute</span><span data-preserver-spaces="true"> power.</span></p> <p><a href="https://tech.eu/2024/06/24/from-months-to-minutes-oasys-now-streamlines-patient-recruitment-for-clinical-trials/" target="_blank"><span data-preserver-spaces="true">Runners-up</span><span data-preserver-spaces="true"> were women's healthcare science company </span></a><a href="https://www.mohanahealth.com/" target="_blank"><span data-preserver-spaces="true">Mohana</span></a><span data-preserver-spaces="true"> (Canada) and AI-driven accessibility compliance platform </span><a href="https://www.deva11y.com/" target="_blank"><span data-preserver-spaces="true">Dev Ally</span></a> <span data-preserver-spaces="true">— stay</span><span data-preserver-spaces="true"> tuned for an interview with Dev Ally co-founders Cormac Chisholm, CEO, and Patrick Guiney-Fox COO, in the next couple of weeks.</span><span data-preserver-spaces="true"> </span></p> <p><em>Lead image: OASYS NOW by Petri Anttila.</em></p> <div data-getsitecontrol-inline="284877" style="margin-bottom: 20px;"></div> </div>   <div id="dfp_ads_674f58858952157" class="dfp-banner aad-u-en-desktop-single_after_post_1" data-slot="/190839790/Techeu_300x250_Web_2" data-sizes="[]"></div>   <script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script><script type="text/post-content-ad"> <div id="dfp_ads_674f5885896a342" style="width:300px; 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OASYS NOW wins €1M in Slush 100 competition - Tech.eu