Romanian medtech Oncochain receives a €195k grant from Innovation Norway

The Timisoara-based startup Oncochain, which develops an oncology data management solution, has received a grant of €195,300. The round was led by the Innovation Norway fund.

• Oncochain develops the software solution named OncoAbstrakt. It is based on AI-powered automatic structuring of medical data and allows doctors and hospitals to access key elements from complete patient records, with the scope of facilitating medical research and practice.
• Oncochain started the implementation of the Oncochain – Innovative data management solution, enhancing the future personalized cancer care project in February 2023. It is co-financed within the SME Growth Romania – Support for Startups program, concluded with the Innovation Norway fund, Norwegian Government’s instrument for innovation and development of Norwegian enterprises and industry, as program operator.
• The investment will help to accelerate the development of the solution by integrating some technologies: machine learning algorithms for the software platform, optical character recognition, natural language processing dedicated to the Romanian language and other Eastern European languages. The project will be completed in April 2024.