Oncochain, founded in 2019, develops OncoAbstrakt, a platform that employs OCR and NLP to extract and standardize oncology data from paper and electronic medical records for research use. The product maps outputs to standardized terminologies including LOINC, SNOMED CT, and the NCI Thesaurus and is available in English with rapid localization capability. The founders, Madalin and Roxana Margan, developed the solution after encountering fragmented patient data during clinical practice and have pivoted from an oncology-only focus to a broader medical-data portfolio. The team is actively refining proprietary OCR and NLP modules and exploring niche research models such as a custom data model for endometriosis. Oncochain has engaged early backers including Growceanu Angel Investment and received angel support cited by Liviu Munteanu. The company’s current financing includes a grant that will fund further product development and integration of ML, OCR, and Romanian-language NLP. Oncochain has developed a centralized platform composed of two apps: an oncology electronic health record (EHR) for healthcare providers and an analytics SaaS tool that offers aggregated clinical data and statistical analyses to researchers, CROs and pharma. The platform collects data from daily clinical practice to create quality multicenter research datasets and cohort comparisons that aim to accelerate oncology research and drug development. Company officials say fragmented medical records leave important oncology data inaccessible, and Oncochain’s product targets that gap. Management projects €30K per month in revenue by the end of next year from provider subscriptions to the EHR and fees from pharmaceutical companies, CROs and academia; pricing assumptions reference anonymized patient-record valuations. Near-term commercial targets include working with 25 cancer clinics, attracting six pharmaceutical customers and gathering 25,000 medical records; they aim to cover 50% of Romania’s oncological centers. Geographic expansion plans for 2022 target Eastern Europe (Bulgaria, Moldova, Serbia, Ukraine, Poland) with further entry into Turkey, Egypt and Thailand by 2025.

Total raised

$0M

Funding rounds

2

Latest round

Grant

Latest activity

Apr 2023