Monocl Software has taken a step toward its goal of introducing an analytic platform for finding and assessing life science experts in 2015. The Swedish innovation agency Vinnova has helped Monocl toward its target by awarding it funding under its digital health program.
Vinnova has given Monocl SEK 2.7 million ($362,000) as part of its Forska&Väx program, doubling the amount the company has received from public entities. The timely funding boost will give Monocl the resources to move ahead with plans to introduce its product next year. Gothenburg, Sweden-based Monocl has developed the platform, called Monocl Ego, to help people find, evaluate and contact life science experts and key opinion leaders.
By making it easier for drug developers to find experts, Monocl hopes to remove a bottleneck to the progress of projects. "In an era of information overload, it will be increasingly important to understand the relationships and the knowledge of specific experts in life science. We strongly believe that our unique user-driven approach will enable us to address these highly important and challenging needs," Monocl CEO Björn Carlsson said in a statement.
Monocl plans to follow the receipt of the grant with an investment round in the first quarter of next year, Carlsson said. The company's core business is providing consulting services--such as advising an oncology biotech on how to raise money--but it also has an emerging software unit. Monocl Ego is the first product to emerge from the software unit.
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