Thomas Clozel, CEO of Owkin
Insights from a physician-scientist leading the biotech & pharma revolution with AI
🌟 We had the privilege of hosting Dr. Thomas Clozel, Co-Founder and CEO of the biotech unicorn Owkin, at an Icons dinner.
Thomas brought sharp insights as a physician-scientist leading AI in healthcare, paired with his fantastic sense of humor and interesting France vs. U.S. comparisons.
With a vision to transform pharma, Thomas shared valuable lessons on the intersection of AI and biology. Here are some key takeaways:
Importance of Data: Owkin uses AI as an augmentation tool, particularly in data management. They developed a federated learning approach that keeps data on-site while training distributed models, ensuring privacy and integrity.
Innovation & IP: Real innovation isn’t just about saving money—it’s about creating tangible value. Thomas stressed that IP is something you should never share. Strong IP protection is essential for long-term success in biotech.
Diagnostic AI: While AI in diagnostics, especially medical imaging, holds great potential, it lacks the strong business model that drug sales have. A sustainable financial strategy is crucial for its adoption in healthcare.
Effective Storytelling: To secure investor support, compelling storytelling is key. Since no investor fully understands both AI and biology, clear communication of innovation's broader impact is vital. - and this is were the Americans are good at ;)
Flexible Business Models: Owkin’s approach includes accepting equity from customers who can’t pay in cash, fostering long-term partnerships and evolving from a provider to a trusted partner.
Board Dynamics: Engaging the board as a market surrogate and maintaining open communication is crucial. Thomas also values an advisory board for added insights and support.
Long-term Vision: Owkin’s commitment to data privacy, including never sharing IP, is central to their trust-building strategy. Their culture ensures every team member understands their role in the overall vision, fostering alignment and purpose. - Fun fact: Thomas knows the name of all of Owkin's 360 employees!
Thomas’s wisdom extended beyond AI and biotech, highlighting the importance of vision and culture in driving success. He left us with a thought-provoking idea on happiness: "Happiness is about having goals that are both challenging and doable."
Thank you, Thomas Clozel, for the inspiring discussion and for shedding light on the future of AI in healthcare. Special thanks to our sponsor, Effective Soft (Mark), Gwen and Ben (NY Icons hosts), and the Icons community for making this event possible!