October 18-20 | Tucson, AZ

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Merck’s venture arm invests in data security for academia, gov’t & biotech collaboration

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October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

Identity management software company Exostar  has received a $5 million investment from Merck’s venture arm to expand its healthcare and life sciences business. This centers on secure data collaboration, because big pharma – as pretty much every healthcare-related operation -needs to operate more lithely in the new world of big data.

Data security’s become hugely paramount in the health space – from HIPAA compliance issues in EHRs, e-prescribing and interoperable medical devices whose data resides on a cloud. Pharma companies are becoming far more collaborative with one another, and secure data sharing plays a huge role as big pharma interacts with smaller biotechs, CROs and other external partners. This is clearly the rationale for why a pharma behemoth like Merck Global Health Innovation Fund has chosen to make a data security play.

The Merck fund invests in a number of health-related ventures, including the “health data liberation” category – meaning, it’s interested in enabling interoperability with cloud-based platforms, privacy and security, and data aggregation.

Exostar CEO Richard Addi says the Virginia-based company has already  it’s proved its supply chain and identity management mettle in industries like aerospace and defense – markets that have similar needs as healthcare for data security. Exostar says its life sciences identity hub includes more than 600 life science-focused companies, government agencies and university – supporting the collaboration between thousands of folks.

“Exostar’s secure cloud-based access and existing user base delivers a strong complement to the current and future needs of the data-driven healthcare industry,” Merck Global Health Innovation Fund managing director Joe Volpe said in a statement.

via Merck's venture arm invests in data security for academia, gov't & biotech collaboration.

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