Besides legal knowledge, players in the genomics market need deep and detailed knowledge of available technology. Nascent tools in particular may not be widely known or understood except in expert circles. Outsourcing or strategic acquisitions can secure quick access to the right expertise.
Powerful data-driven technology has the potential to deliver valuable insights and clinically-relevant information. In fact, recent technological advances such as homomorphic encryption or privacy-preserving machine learning allow to extract insights from data without making in accessible centrally or reveal individual records to third parties.
It’s important to harness that potential with the right know-how. At the same time, it’s essential to protect genomic data and trade secrets: No small task given that Life Sciences companies are an attractive target for cyber attackers.