Oracle Tycoon Larry Ellison’s startup Project Ronin, which offers software for use in the treatment of cancer, has failed. Bloomberg reported that the company informed staff of this last week.
Bloomberg cited an internal memo from Project Ronin management to employees that said the firm “will have a permanent mass layoff in connection with the closing of the company.”
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Project Ronin has, or had, about 150 employees.
While Ronin claimed success with its services, the company simply failed to establish a customer base.
Larry Ellison is clearly high on investing in the medtech arena, and cancer in particular. Two years ago he invested in the Series A round of funding of the Israeli medtech startup Imagene AI, a “precision oncology diagnosis” company. Its molecular and micro-environment intelligence platform delivers real-time biomarker reports using only digitized biopsy images, leading to faster diagnosis and better identification of treatment for patients.
Also, in 2022 Oracle acquired electronic health records company Cerner Corporation for $28 billion. The acquisition, however, did not aid with the development of Project Ronin as
The mere fact of that company’s failure shows.
Founded in 2018 by Dave Hodgson, one of the world’s leading architects of smart technology for doctors and patients, renowned cancer expert Dr. David Agus, and tech visionary Larry Ellison, Project Ronin said that its mission was to “transform cancer care by empowering clinicians to make confident, informed clinical decisions.”
Project Ronin said its solution would improve patient outcomes, reduce clinician burden, and increase operational efficiencies by providing personalized, data-driven insights within the EHR, delivering all the relevant patient information to clinicians at the point of care while reducing time spent in the patient chart, and engaging patients in their care through ongoing symptom monitoring with ePROs and personalized educational content.
Unfortunately, it did not succeed at this.
Larry Ellison is an American businessman and entrepreneur best known for co-founding the software giant Oracle Corporation in 1977. He served as Oracle’s CEO for 37 years until 2014 and is currently the company’s chairman and chief technology officer. Under his leadership, Oracle grew from a startup to the largest database software supplier and the second-largest supplier of business applications globally.
As of March 2024, Larry Ellisonis listed by the Bloomberg Billionaires Index as the eighth-wealthiest person in the world, with an estimated net worth of $142.2 billion.
