Pharma giant Merck KGaA and analytics company Palantir Technologies are partnering for a new analytics-based joint venture called Syntropy, BioSpace reports.
According to the report, Syntropy will be built using Palantir’s Foundry platform, a solution which offers tools to both structure and analyze data from multiple sources all while ensuring data privacy.
“When we choose partners, be it in government or the private sector, we are on their side and want to grow a business together and not with five others,” Palantir co-founder and CEO Alexander Karp said.
The companies in their new venture will look to develop digital solutions to bolster data sharing with more robust transparency and privacy measures.
According to the report, each company will maintain a 50 percent stake in the venture. Few additional financial details have been released.