TripleBlind, Mayo Clinic to Commercialize Innovative Technologies
- TripleBlind recently announced that it expanded its collaboration with Mayo Clinic to further commercialize innovative technologies for patients worldwide using data analysis, algorithm training, and validation on one-way encrypted data and on next generation algorithm sharing.
Mayo Clinic researchers will use TripleBlind’s tools to validate the interoperability of encrypted algorithms against encrypted data and the training of new algorithms on private data.
The goal of the initiative is to l demonstrate that TripleBlind’s tools can be applied to train and develop new algorithms from independent entities anywhere in the world, without the need to share raw data topreserve privacy and security and meet regulatory standards.
Notably, TripleBlind’s API-driven virtual exchange solution is based on breakthroughs in advanced mathematics, which the Mayo Clinic team will use and validate. The solution acts as the innovative data encryption conduit that keeps the data and intellectual property in the algorithm secure.
Currently, health systems have to either transfer data or algorithms outside their institution for experts to train or conduct research. This process can take many months and typically involves legal contracts and a significant amount of time from technicians.
The encryption conduit that Mayo Clinic will evaluate is designed to eliminate this step, which will further protect intellectual property and data.
“TripleBlind’s API-driven virtual exchange solution accelerates how organizations develop, test and deploy AI solutions in healthcare, and leverage third party data amidst heavily regulated privacy concerns,” Riddhiman Das, co-founder and CEO of TripleBlind, said in the announcement.
“Mayo Clinic further supports our approach and we’re excited to continue our collaboration to deploy TripleBlind’s encryption tools and work on real-world applications,” Das continued.
As part of the collaboration, Mayo Clinic invested a seed extension round, adding to the $8.2 million that TripleBlind recently raised in an oversubscribed seed funding round.
Mayo Clinic joins Accenture Ventures, Okta Ventures, NextGen Venture Partners, Operator Partners, Wavemaker Three-Sixty Health, AVG Basecamp Fund, Anorak Ventures, Quiet Capital, Clocktower Technology Ventures, Parity Responsible Technology Fund, and Manresa Ventures.
Mayo Clinic Ventures Chair Andy Danielsen, stated that it’s part of the company’s mission to commercialize innovative technologies for the benefit of patients worldwide. Therefore, the right decision was to further its collaboration with TripleBlind through the investment.
At the end of December, Mayo Clinic and TripleBlind entered into a collaboration to streamline the diagnosis process.
The solution is designed to support Mayo Clinic and other healthcare systems generate insights from regulated data without actually accessing the data. This ensures compliance with HIPAA and other standards, a TripleBlind spokesperson explained in the December announcement.
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