Fast-growing Cambridge life science AI solutions company OKRA.ai acquired by Envision Pharma Group
OKRA.ai, the Cambridge-based company providing AI solutions for life sciences, has been acquired by Envision Pharma Group.
Envision is a global medical affairs and healthcare communications company with more than 1,400 employees on four continents, including offices in Bishop’s Stortford, Hertfordshire, and in London, West Sussex and Cheshire.
It said OKRA’s AI products and solutions would strengthen its offer to its pharma partners.
Dr Loubna Bouarfa, CEO and founder of OKRA.ai, will join Envision as a member of its executive leadership team.
She said: “Today is a redefining moment for OKRA.ai. I am honoured to be joining forces with Envision and to see the enormous opportunities for the growth of our combined expertise and solutions for clients in the life sciences industry.
“As part of Envision Pharma Group, we can accelerate our work to bring AI to the heart of decision-making across the life sciences industry. Our success will not only bring commercial benefit to clients, but lead to improved patient outcomes across the globe.”
OKRA.ai employs about 30 staff at St John’s Innovation Centre and in the Netherlands, who join Envision.
They provide “humanised artificial intelligence” technology to deliver predictions, suggestions and explanations for life sciences executives and operational teams to help drive the right drug to the right patient.
Meg Heim, CEO of Envision, said: “We are delighted to welcome OKRA.ai into the Envision family. The acquisition of OKRA.ai marks an exciting milestone in Envision’s evolution as we continue to accelerate and deliver a compelling combination of technology-enabled capabilities and solutions to clients.
“The combination of Envision’s leading technology, capabilities, and solutions with OKRA.ai’s artificial intelligence expertise enables us to strengthen our offerings to clients across the product life cycle, but more importantly support patients in their journey to health and wellness.”
The acquisition, for an undisclosed fee, follows a period of rapid growth and numerous accolades for OKRA.ai and Dr Bouarfa, a former winner of CEO of the Year at the Cambridge Independent Science and Technology Awards. Dr Bouarfa was also named among the Forbes 50 Top Women in Tech and won the Deloitte Fast 50 Women in Leadership Award in 2022.
Having recorded a stunning 4,227 per cent growth over the last four years, Deloitte put the company ninth in its list of the fastest-growing tech companies in the UK.
Dr Bourfa was also selected as a European Young Leader (EYL40) for 2022 - a programme highlighting rising stars and change makers helping to build connections across different fields of work from around the world.